ACI Worldwide to drive real-time payments for Rabobank

Based in the Netherlands, Rabobank is a customer-focused cooperative bank. As the bank continues its growth trajectory among an increasingly crowded field, it realised the need to continue to offer real-time services to meet consumer and business demands.

It is also recognised that real-time payments processing is the future of payments and a real-time payments hub is critical to its strategy. As such, Rabobank needed a system to ready itself for the evolution of instant and open banking and selected ACI’s UP Immediate Payments for SEPA Instant Payments.

With the onset of new instant payments schemes across Europe, Rabobank required a flexible solution to address domestic NL instant payments processing as well as pan-European instant payments. Available via a SaaS delivery model or on-premise, ACI’s UP Immediate Payments provides connectivity and processing for the local and pan-European SEPA Instant Credit Transfer schemes (SCT Inst).

UP Immediate Payments is already in production at other banks as a single point of access and liquidity controls for other country immediate payments (IP) schemes. It features enhanced functionality specifically for the management and processing of real-time payments, including exceptions handling, business intelligence and monitoring dashboards.

ACI has an unmatched global customer base of financial institutions and payment service providers using its UP Immediate Payments solution. In the UK, it has been used by financial institutions to access the UK Faster Payments scheme since its launch in 2008. Currently, 9 out of the 14 direct participants of the UK’s Faster Payments Scheme use ACI’s solutions, and it has recently begun offering UK aggregator services out of its Limerick data center.

Additionally, ACI has customers using UP Immediate Payments to access Singapore FAST and the Australian NPP (New Payments Platform). ACI serves on the ISO 20022 Real-Time Payments Group, the EPC Instant Payments Technology Group, payments and security task forces for the U.S. Federal Reserve, and chairs the IPFA rules working group.

For more information about ACI Worldwide, please check out a detailed profile of this company in our dedicated, industry-specific online company database.