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ACI seconds SWIFT’s ‘universal confirmations’ notion; opts for one-year pilot

SWIFT

Craig Ramsey, Head of Real-Time Payments at ACI 

ACI Worldwide, a global provider of real-time electronic payment and banking solutions, has announced its support to SWIFT’s universal confirmations program, which is due to go live in November this year.

ACI, who has been a SWIFT partner for more than 20 years, has entered a one-year joint pilot program with the latter. As a part of the program, ACI is currently rolling out universal confirmations for all its customers willing to participate in the pilot. By the end of 2020, all financial institutions on SWIFT will be required to confirm payments to the basic tracker, according to a statement.

“For ACI, this is another exciting opportunity to collaborate with SWIFT, as we expand on our real-time payments offering, providing real-time information on payments,” Craig Ramsey, Head of Real-Time Payments, ACI Worldwide commented.

As a part of universal confirmations program, financial institutions on SWIFT that are not gpi (global payment initiative)-enabled will be able to confirm their incoming payments manually using a new basic tracker, as well as through a range of other automated solutions. However, gpi member banks will continue to be able to access gpi Tracker to confirm payments, as well as benefit from the full search and tracking features of gpi, along with the suite of value-added services.

“…Confirmations enable banks to provide an excellent customer experience by offering transparency and certainty that the funds have reached their destination and are available to the beneficiary,” Fabien Depasse, Head of gpi Customer Success at SWIFT stated.

ACI Worldwide, a universal payments (UP) company, renders electronic payments to more than 5,100 organizations globally. Through its comprehensive suite of software solutions delivered on customers’ premises or through ACI’s private cloud, the company provides real-time, immediate payments capabilities and an omnichannel payments experience.

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