Craig Ramsey, Head of Real-Time Payments, ACI Worldwide

Toronto-based BMO Financial Group is unveiling a new product Zelle’s B2C payments, through its BMO Payment Hub which is powered by ACI’s UP Real-Time Payments solution.

“Our focus is to create services that better support our customers and make payments faster and easier,” said Sharon Haward-Laird, Head, North American Treasury & Payment Solutions, BMO Financial Group.

According to the supplier, ACI’s solution is expected to provide BMO with payments network connectivity and allow banks to deliver quick payments. It also aims to facilitate better management of cash flow, improve secure payments and fraud detection capabilities and enable transparency for customers in tracking their payments.

“BMO transcends innovation and its recent Celent award win is very well deserved,” said Craig Ramsey, Head of Real-Time Payments, ACI Worldwide. “BMO embarked on a transformational project that has already proven to be fruitful. And, adding Zelle faster payments is only the beginning. With ACI’s UP Real-Time Payments solution, BMO has the freedom to rapidly make strategic or tactical moves, and realize new market opportunities essential to their success.”

Recently, ACI added new payment capabilities to its UP portfolio following the acquisition of Western Union’s Walletron (developer of mobile wallet offerings).

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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