ACI Worldwide and BANRED Drive Digital Payments for Banks and Merchants in Ecuador
April 09 2019 - 8:00AM
Business Wire
BANRED transforms its payments environment
while protecting its investments in existing systems
ACI Worldwide (NASDAQ: ACIW), a leading global provider of
real-time electronic payment and banking solutions,
today announced that BANRED, the largest interbank network in
Ecuador, has selected ACI’s UP Retail Payments to deliver a
powerful digital payments experience to banks and merchants in
Ecuador.
Founded in 1994, BANRED provides technological infrastructure, a
payment network connectivity and manages the biggest ATM network in
Ecuador. A long-time customer of ACI, the company handles a high
percent of financial transactions and supports 90 percent of banks
in the country. BANRED’s decision to extend its relationship with
ACI was based on its desire to add new services and transform its
payments processing environment while maintaining business-as-usual
for its clients. ACI’s UP Retail Payments enables BANRED to unite
current and next-generation technology under the UP Framework -
which allows the management and flow of transaction volumes between
systems based upon specific needs. As a result, the company can now
add more services that meet the demands of end consumers, such as
real-time interbank funds transfers (the first step toward
real-time, immediate payments). With new electronic transactions
running through BANRED’s associate members, the company now has the
flexibility to adapt to new customer demands and process
transactions efficiently.
“As the digital payments evolution continues to drive changing
consumer demands, we want to be at the forefront of that
evolution,” said Pablo Narvaez, CEO, BANRED. “We’ve worked with ACI
for many years, and the company plays a strategic role in our
business by enabling us to offer new and emerging payments
solutions and services with seamless and secure continuity. With
ACI, we’re able to respond to changing customer demands with
efficiency. In fact, we have recently been recognized for our
business efficiency by Ekos Magazine, which placed us first in the
hardware and software category.”
Presented by the Ekos Corporation, Ekos de Oro Award winners
represent Ecuador’s strongest business leaders. BANRED’s “Gold”
(first place) award for business efficiency in the hardware and
software category was based on the results generated from the
services using ACI’s UP Retail Payments solution.
“As the payments network leader in Ecuador, BANRED is a key
driver of innovation in the country,” said Marco Bravo, vice
president, Latin America, ACI Worldwide. “We provide the secure
foundation the company needs to evolve its solutions for its
clients. ACI’s UP Retail Payments allows the company to balance the
migration to digital systems all while maintaining security and
trust. With ACI, BANRED is advancing payments in Ecuador into the
era of fully integrated digital payments around Latin America and
the rest of the world.”
ACI’s UP Retail Payments bridges the features and
functionalities of current systems with next-generation
technologies to deliver a preeminent digital payments experience.
The solution supports open API strategies by leveraging the UP
Framework’s API Manager capabilities and provides a path for
handling real-time payments. In addition, organizations can
continue business-as-usual while adding new services and innovating
in a protected environment.
About ACI WorldwideACI Worldwide, the Universal
Payments (UP) company, powers electronic
payments for more than 5,100 organizations around the world.
More than 1,000 of the largest financial institutions and
intermediaries, as well as thousands of global
merchants, rely on ACI to execute $14 trillion each day in
payments and securities. In addition, myriad organizations utilize
our electronic bill presentment and payment services.
Through our comprehensive suite of software solutions delivered on
customers’ premises or through ACI’s private cloud, we provide
real-time, immediate payments capabilities and enable the
industry’s most complete omni-channel
payments experience. To learn more about ACI, please
visit www.aciworldwide.com. You can also find us on
Twitter @ACI_Worldwide.
© Copyright ACI Worldwide, Inc. 2019
ACI, ACI Worldwide, the ACI logo, ACI Universal Payments, UP,
the UP logo and all ACI product/solution names are trademarks or
registered trademarks of ACI Worldwide, Inc., or one of its
subsidiaries, in the United States, other countries or both. Other
parties' trademarks referenced are the property of their respective
owners.
Product roadmaps are for informational purposes only and may not
be incorporated into a contract or agreement. The development
release and timing of future product releases remains at ACI’s sole
discretion. ACI is providing the following information in
accordance with ACI's standard product communication policies. Any
resulting features, functionality, and enhancements or timing of
release of such features, functionality, and enhancements are at
the sole discretion of ACI and may be modified without notice. All
product roadmap or other similar information does not represent a
commitment to deliver any material, code, or functionality, and
should not be relied upon in making a purchasing decision.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190409005377/en/
Dan RingE-mail: dan.ring@aciworldwide.comPhone: 781-370-3600
Nidhi AlbertiEmail: nidhi.alberti@aciworldwide.comPhone:
781-370-3600
ACI Worldwide (NASDAQ:ACIW)
Historical Stock Chart
From Mar 2024 to Apr 2024
ACI Worldwide (NASDAQ:ACIW)
Historical Stock Chart
From Apr 2023 to Apr 2024