BMO Partners with ACI Worldwide to Drive Payments Modernization
- Payments , Banking
- 19.10.2018 07:52 am
ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, along with BMO Financial Group (BMO), announced today that BMO has rolled out ACI’s world-class payments hub within their business in just nine months, integrating a number of BMO's core payment systems and driving efficiencies for customers.
A thought leader in driving innovation and improved banking experiences, BMO is involved in the modernization of national payment ecosystems in Canada and the United States. A modernized infrastructure will be critical in supporting the rapidly changing expectations of customers in Canada, the U.S. and around the world—providing access to faster and simpler payment options, the ability to leverage richer data and analytics, and allowing for new payment capabilities without compromising security.
“The launch of our payment hub is a cornerstone of our payment modernization strategy and a very exciting step forward for BMO and our clients,” said Sharon Haward-Laird, Head, North American Treasury & Payment Solutions, BMO Financial Group. “Our speed-to-market differentiates BMO and has been a significant win that has positioned us well to adapt quickly to shifting demands and enable the new payment rails we are working toward in the coming months. It’s all about delivering faster and more efficient payment experiences for clients and with the hub, we’re well positioned to do that.”
ACI’s UP Real-Time Payments solution is the only global solution that allows financial institutions to address their RTGS (Real-time Gross Settlement), SWIFT messaging, ACH and real-time payments needs with a single, universal offering. ACI enables faster time to market, better management of cash flow, improved secure payments and fraud detection capabilities, simplified connectivity to new payments types, and transparency for customers in tracking their payments.
“Leading financial institutions have relied on ACI for more than 30 years and by utilizing ACI’s world-class payments hub, BMO will be well positioned to offer new capabilities as payments evolve based on customer needs,” said Mandy Killam, Group President, ACI Worldwide. “As modern digital innovations are being introduced, ACI is at the center of facilitating this transition to open, real-time, digital banking.”