Capitalising on the opportunities that PSD2 and real-time present is at the heart of OTP’s open banking strategy.
ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced that Hungary’s OTP Bank Group, one of the largest independent financial service providers in Central and Eastern Europe, will utilise the full range of ACI’s UP portfolio of solutions to drive its digital transformation strategy.
As a long-standing ACI customer, OTP Bank already utilises ACI’s UP Retail Payments Solution and UP Payments Risk Management Solution. As the bank continues its digital evolution, it will now leverage ACI’s API Manager capabilities and, in addition, implement UP Immediate Payments. Both solution sets will serve as the architectural foundation for the bank’s enterprise-wide open banking strategy.
“With the EU’s new PSD2 mandate, more Eastern and Central European countries are embarking on real-time and immediate payments initiatives,” said Mandy Killam, group president, ACI Worldwide. “Our UP solutions ensure that financial institutions can take advantage of this sea change by delivering openness while also ensuring the highest levels of privacy and data protection for their clients. Rather than simply ‘checking the boxes’ to meet the PSD2 mandate requirements, ACI’s UP solutions help clients to protect their existing business, grow revenues in the short term and place them in the pole position in the new open banking payments ecosystem.”
“Providing the best possible customer experience has been the focus of our bank since its inception. Consumers increasingly want new and innovative banking services. The advent of PSD2 and the launch of more real-time schemes will offer our customers more options as well as greater control and flexibility,” said Tibor Johancsik, CIO/COO, OTP Bank. “ACI’s UP solutions will be a significant element of our architecture, playing a substantial role in our own open banking strategy, enabling us to capitalize on the opportunities that PSD2 and real-time payment present.”
Key facts and benefits of the newly added ACI UP solutions:
Universal Payments (UP) is at the core of ACI’s strategy to provide the broadest, most integrated suite of electronic payments solutions in the market. UP is ACI’s vision of enabling real-time, any-to-any electronic payments for financial institutions, intermediaries, merchants and billers. ACI’s UP portfolio of solutions is underpinned by a unique technology framework with flexible, open payment services that enable organizations to innovate quickly, reduce risk and gain choice, flexibility and control over their payment strategies.
ACI is showcasing its expertise in immediate payments, online banking, bill pay and payments fraud management at PAYMENTS 2018, April 29 - May 1.
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