ACI Worldwide (Nasdaq: ACIW), leading international provider of electronic payments software and solutions, today announced that the ACI Money Transfer System(TM) has achieved the SWIFTReady accreditation for payments for the twelfth consecutive year. The accreditation recognizes that the Money Transfer System satisfies SWIFT's highest requirements and demonstrates ACI's commitment to SWIFT's standards, products and services.
This year the process for gaining the accreditation was more extensive than before and involved third-party validation of the SWIFT requirements. ACI executed both a technical validation and functional validation to confirm SWIFT program compliance, with special attention focused on readiness for the 202COV being introduced later this year.
"Receiving this accreditation for the twelfth year in a row emphasizes our commitment to being a leader in SWIFT processing," said Louis Blatt, chief product officer at ACI. "As SWIFT continues to introduce operational changes related to compliance, efficiency and new revenue opportunities, our clients are confident that the Money Transfer System addresses their business needs."
"As the challenges facing banks change, and regulatory requirements evolve, SWIFT is constantly updating its offering to meet the needs of banks around the world every day. The accreditation process for vendors is an important element of that, to ensure banks can have the confidence they are working with solutions that are completely SWIFTReady," said Philippe Lecomte, Partner Manager Americas, SWIFT Pan-Americas, Inc. "Since the inception of the SWIFTReady program, ACI Worldwide has consistently demonstrated its ongoing commitment to satisfying the standards we set forth."
SWIFT, the Society for Worldwide Interbank Financial Telecommunication, supplies standards and secure messaging services to financial entities. Candidates for the SWIFTReady accreditation are evaluated on an annual basis to determine their ability to meet a wide range of SWIFT-specific criteria.
The ACI Money Transfer System is a multibank and multicurrency global payments processing and risk management system that provides continuous processing capabilities. With interfaces directly to SWIFTNet services - as well as multiple real time gross settlement (RTGS) and low value networks across the globe - the system is a single, integrated solution for domestic and international payments processing. The ACI Money Transfer System for SEPA supports processing for transactions under the SEPA Credit Transfer and Direct Debit schemes.
This year the process for gaining the accreditation was more extensive than before and involved third-party validation of the SWIFT requirements. ACI executed both a technical validation and functional validation to confirm SWIFT program compliance, with special attention focused on readiness for the 202COV being introduced later this year.
"Receiving this accreditation for the twelfth year in a row emphasizes our commitment to being a leader in SWIFT processing," said Louis Blatt, chief product officer at ACI. "As SWIFT continues to introduce operational changes related to compliance, efficiency and new revenue opportunities, our clients are confident that the Money Transfer System addresses their business needs."
"As the challenges facing banks change, and regulatory requirements evolve, SWIFT is constantly updating its offering to meet the needs of banks around the world every day. The accreditation process for vendors is an important element of that, to ensure banks can have the confidence they are working with solutions that are completely SWIFTReady," said Philippe Lecomte, Partner Manager Americas, SWIFT Pan-Americas, Inc. "Since the inception of the SWIFTReady program, ACI Worldwide has consistently demonstrated its ongoing commitment to satisfying the standards we set forth."
SWIFT, the Society for Worldwide Interbank Financial Telecommunication, supplies standards and secure messaging services to financial entities. Candidates for the SWIFTReady accreditation are evaluated on an annual basis to determine their ability to meet a wide range of SWIFT-specific criteria.
The ACI Money Transfer System is a multibank and multicurrency global payments processing and risk management system that provides continuous processing capabilities. With interfaces directly to SWIFTNet services - as well as multiple real time gross settlement (RTGS) and low value networks across the globe - the system is a single, integrated solution for domestic and international payments processing. The ACI Money Transfer System for SEPA supports processing for transactions under the SEPA Credit Transfer and Direct Debit schemes.
