Standard Chartered adopts ACI money transfer system in Germany

Source: ACI Worldwide

ACI Worldwide (Nasdaq: ACIW), a leading international provider of payment systems, today announced that Standard Chartered Bank has adopted the latest version of ACI Money Transfer System 4.0 in Germany for its Euro clearing, as the bank reaches the milestone of working with ACI Worldwide for 20 years.

Standard Chartered Bank uses Money Transfer System for clearing major currencies: US Dollar, Euro and the Japanese Yen as part of its commitment to meet the highest levels of availability, reliability and scalability that its customers have come to expect. Adopting Money Transfer System 4.0 in Germany allows the bank to respond to the requirements of the Single Euro Payments Area (SEPA) - enabling it to comply fully with the new regulations, and make cross-border payments faster and more economic for its customers.

Madhavan Ramaswamy, Global Head, Product Management, Banks, Standard Chartered Bank said, "Our clients recognize the bank's strength in providing access to its international network and multi-currency capabilities to facilitate seamless cross border trade and cross-border transactions. ACI Money Transfer System is a key partner in enabling our ability to deliver best in class solutions and processes to meet our clients' dynamic needs in a reliable and scalable fashion."

Ralph Dangelmaier, president of global markets and services at ACI Worldwide said, "Standard Chartered Bank, whose brand promise is 'here for good', is focused on delivering the best propositions to its customers globally and locally. We have worked on many different projects over the years, such as the integration and combination of two different versions of Money Transfer System after the acquisition of American Express Bank by Standard Chartered Bank in 2008, and there are currently many different projects in progress. The bank is always looking for ways to work better, more efficiently or more cost effectively, and I am pleased that ACI is able to support so many of those initiatives." 

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