ACI Worldwide, Inc. Announces the Release of ACI Money Transfer System 5.0(TM)
January 07, 2013 at 08:00 am EST
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ACI Worldwide, Inc. announced the release of ACI Money Transfer System 5.0(TM) the company's leading wholesale banking solution. The newest version of Money Transfer System offers financial institutions the utmost flexibility in defining and managing their payment processing flows. This most recent update was developed as the result of a large scale collaborative effort between ACI and a number of its customers whose design input and suggestions were included in the final version.
By exposing services, ACI is empowering customers with more flexibility, choice and control of their payment systems, both to leverage the services across their organization as well as to further tailor their unique customer offerings. Money Transfer System is one of many ACI products in the company's broader payments platform to deliver on this approach. Money Transfer System 5.0 also provides: Repair Reporting: provides the ability to explain to customers how to correctly format transactions in order to reduce expensive repair activity in the bank's back-office; SWIFT Network Validation Kit: performs validation on messages received through a back-end interface to avoid negative acknowledgements and improve straight through processing; Expanded Global Clearing Channels: expanding the suite of global clearing channels available, Money Transfer System has added: Kuwait Automated Settlement System for Inter-Participant Payments (KASSIP) using the Central Bank of Kuwait's wide area network (CBK-Net) including Arabic character support; Saudi Arabian Riyal Interbank Express (SARIE) system including Arabic character support.
ACI Worldwide, Inc. develops, markets, installs, and supports a line of software products and solutions primarily focused on facilitating real-time digital payments. The Companyâs segments include Banks, Merchants, and Billers. It provides payment solutions to large and mid-size banks globally for retail banking, real time, digital, and other payment services. It support merchants globally, including Tier 1 and Tier 2 merchants, online-only merchants and payment service providers, independent selling organizations, value-added resellers, and acquirers who service them. Within the Billers segment, the Company provides electronic bill presentment and payment (EBPP) services to companies operating in the consumer finance, insurance, healthcare, higher education, utility, government, and mortgage categories. Its solutions include ACI acquiring, ACI issuing, ACI enterprise payments platform, ACI low value real-time payments, ACI high value real-time payments, and others.