Sign In  |  Register  |  About Mill Valley  |  Contact Us

Mill Valley, CA
September 01, 2020 1:29pm
7-Day Forecast | Traffic
  • Search Hotels in Mill Valley

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

ACI Worldwide Supports the FedNow® Service, Advancing U.S. Payment System

ACI helps financial institutions implement best-in-class, real-time payment solutions with award-winning fraud protection

ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software, announced today it will be supporting transactions on the Federal Reserve’s newly live instant payment rail, the FedNow Service. ACI is among the first service providers that will be supporting transaction activity for financial institutions on the service.

Through the FedNow Service, ACI Worldwide is positioned to offer financial institution customers access to instant payments, helping them remain competitive and offer best-in-class service for business and consumer customers. Further, ACI’s award-winning fraud protection services are available as part of ACI’s Real-Time Payments Cloud for U.S. customers. Featuring built-in integrated fraud protection, ACI supports connectivity to both The Clearing House’s Real-Time Payments network and the FedNow Service.

“As a service provider of the FedNow Service, ACI Worldwide demonstrates dedication to innovation,” said Ken Montgomery, Federal Reserve Bank of Boston first vice president and FedNow Service program executive. “Financial institutions benefit from the ability to offer instant payments through the seamless experience offered by service providers; these critical organizations expand the reach of instant payments and pave the way for industrywide progress.”

To support transaction activities for financial institutions participating in the FedNow Service, ACI – a FedNow Instant Payment Pioneer – completed a multi-step customer testing and certification program in the months leading up to launch. ACI Worldwide is currently certified across all payment activities, including fulfilling a checklist of requirements to confirm ability to send, receive and process ISO 20022 messages and meet the requirements to successfully operate in a 24x7x365 instant payments environment.

“ACI is proud to have worked closely with the Federal Reserve on FedNow, as we recognize the material benefit of the launch of the new service for financial institutions. Banks want partners who can facilitate and protect real-time payments transactions, supporting new customer products and use cases,” said Thomas Warsop, president and CEO of ACI Worldwide. “Our 20+ years of experience helping global financial institutions across countries in Asia, Europe and the Americas adopt real-time payments rails enables us to offer end-to-end support and be true strategic partners to our clients.”

Financial institutions and service providers will continue to onboard throughout 2023 and beyond, helping the FedNow Service build a strong instant payments infrastructure across the U.S.

About ACI Worldwide

ACI Worldwide is a global leader in mission-critical, real-time payments software. Our proven, secure and scalable software solutions enable leading corporations, fintech companies and financial disruptors to process and manage digital payments, power omni-commerce payments, present and process bill payments, and manage fraud and risk. We combine our global footprint with a local presence to drive the real-time digital transformation of payments and commerce.

About the FedNow Service

The Federal Reserve Banks developed the FedNow Service to facilitate nationwide reach of instant payment services by financial institutions — regardless of size or geographic location — around the clock, every day of the year. Through financial institutions participating in the FedNow Service, businesses and individuals can send and receive instant payments at any time of day, and recipients have full access to funds immediately, giving them greater flexibility to manage their money and make time-sensitive payments. Access is provided through the Federal Reserve’s FedLine® network, which serves more than 10,000 financial institutions directly or through their agents. For more information, visit FedNowExplorer.org (Off-site).

© Copyright ACI Worldwide, Inc. 2023

ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay and all ACI product/solution names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries or both. Other parties' trademarks referenced are the property of their respective owners.

Contacts

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 MillValley.com & California Media Partners, LLC. All rights reserved.