Agricultural Bank of China taps ACI payment processing and AML systems for US launch

Source: ACI Worldwide

ACI Worldwide (NASDAQ: ACIW), a leading international provider of payments systems, shared details today of an agreement first reached earlier this year, with the Agricultural Bank of China (ABC), the third largest bank by total assets in the People's Republic of China, to implement ACI Money Transfer System and ACI Proactive Risk Manager as its wholesale payment processing and anti-money laundering (AML) solution to facilitate its expansion into the U.S. market.

"ACI provides us with a complete and readily implemented solution for fully automated payment processing and fraud protection as we enter the U.S. market," said Wei He, Vice President, Operation Department, Agricultural Bank of China.

"The Agricultural Bank of China is one of the most dynamic, growing players in the banking industry and we are proud to be playing such a key role in its expansion in the United States," said Ralph Dangelmaier, President, Global Markets and Services, ACI Worldwide. "I look forward to a long and mutually beneficial relationship between ACI and the Agricultural Bank of China."

Money Transfer System helps advanced payment management, execution and streamlined banking operations. It is a single source solution which facilitates efficient processing within a highly configurable work flow. Money Transfer System allows global processing needs to be centralized in a single location or distributed via a configurable network. In addition, the Enterprise Sanctions Filter of the solution provides a set of services which position banks to maintain continuous regulatory compliance.

Proactive Risk Manager is a comprehensive financial crime management solution to help card issuers, merchants, acquirers and financial institutions combat fraud and money-laundering schemes. It monitors cross-channel fraud, swiftly spots fraud trends and is able to protect against varying fraud types while also minimizing risk. 

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