ACI Worldwide (Nasdaq: ACIW), a leading international provider of payment systems, today announced that ACI Money Transfer System has achieved the SwiftReady accreditation for payments for the fourteenth consecutive year, and ACI Open Account Manager has once again achieved the SwiftReady Trade Services Utility (TSU) accreditation, demonstrating the company's commitments to Swift's standards, products and services.
The receipt of the SWIFTReady accreditation for payments recognizes that Money Transfer System satisfies SWIFT's highest requirements for the initiation, generation, processing and settlement of payments. The SWIFTReady TSU label, as received by Open Account Manager, is granted to trade applications that can send and receive TSU messages. The label is awarded after a successful technical and functional validation by SWIFT, and has been granted to Open Account Manager every year since the inception of the SWIFT TSU certification program.
Louis Blatt, chief product officer at ACI Worldwide said, "Once again, ACI has demonstrated the value it places on staying at the forefront of industry standards and giving our customers confidence that our products will continue to meet their business and regulatory needs."
"SWIFT provides messaging products and services that must be complemented by partner products to provide total solutions. A recent survey of SWIFT users showed that SWIFT application providers are crucial to the support of our customers' business," said Filip Versluys, head of Partner Management at SWIFT. "Since the very beginning of the SWIFTReady program, ACI Worldwide has consistently demonstrated its ongoing commitment to satisfying the standards set down by SWIFT."
SWIFT supplies standards and secure messaging services to financial entities. Candidates for the SWIFTReady accreditation are evaluated on an annual basis to determine their ability to meet a wide range of SWIFT-specific criteria.
Money Transfer System is a multibank and multicurrency global payments processing and risk management system that provides continuous processing capabilities. With interfaces directly to SWIFTNet services, as well as multiple real time gross settlement (RTGS) and low value networks across the globe - the system is a single, integrated solution for domestic and international payments processing, which also fully supports processingng for transactions under the SEPA Credit Transfer and Direct Debit schemes.
Open Account Manager is a comprehensive trade solution that offers open account transaction processing and supply chain financing services, including online purchase order (PO) issuance, automatic generation of invoices and document matching. It enables financial institutions to align with both their customers and the strategic partners of their customers, to integrate services across the trade value chain. This integration creates more symbiotic relationships and increases business opportunities with all aspects of the open account trade process. The latest innovative feature is ACI Trade Enhanced Payments which enables both buyer and seller to reduce the expense of completing trade settlement. Open Account Manager is designed and built from the ground up on the TSU standards, and is fully compliant with TSU Release 2.