ACI updates banking solutions for financial institutions

ACIworldwide

Updating its payment solutions

ACI Worldwide, has announced the release of ACI Money Transfer System 5.0™ the company’s leading wholesale banking solution.

The newest version of Money Transfer System offers financial institutions greater 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.

“The newest version of Money Transfer System improves the payments industry’s most robust processing solution with a greatly enhanced services framework along with a highly tuned sanctions filter to combat the global issue of sanctions checking,” said Jonathan Eber, Director and Product Line Manager, Wholesale Payment Engines, ACI Worldwide. “Money Transfer System has an extremely rich, detailed set of features. Introducing these as services will allow a financial institution to utilize this functionality much more broadly and consistently within its processing environments.”

The update also provides; Repair reporting which enables customers to correctly format transactions in order to reduce expensive repair activity in the bank’s back-office. The SWIFT Network Validation Kit performs validation on messages received through a back-end interface to avoid negative acknowledgements and improve straight through processing. 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 chaing Arabic character support.

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