Kiwibank Goes Live with ACI Worldwide, Inc. Enterprise Payments Platform
March 06, 2024 at 08:00 pm
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Kiwibank has successfully gone live with ACI Worldwide's Enterprise Payments Platform, a managed cloud solution that will process all of Kiwibank's account-to-account real-time payments. The Reserve Bank of New Zealand has urged local banks to pick up the pace in New Zealand's journey towards real-time payments. New Zealand's economy could benefit from additional economic growth of $271 million, or 0.1%, by 2027 if the country were to introduce a domestic real-time payments scheme, according to a study by the Centre for Economic and Business Research commissioned by ACI and Payments NZ, the payments industry association responsible for the governance of New Zealand's core payment systems. Kiwibank is a long-standing ACI banking customer, leveraging ACI's ATM/POS and AI-powered Fraud Management solutions.
The strategic partnership with ACI marks a significant milestone in Kiwibank's digital transformation efforts and sets the foundation to unlock the benefits of real-time payments.
ACI Worldwide, Inc. develops, markets, installs, and supports a line of software products and solutions primarily focused on facilitating real-time digital payments. The Companyâs segments include Banks, Merchants, and Billers. It provides payment solutions to large and mid-size banks globally for retail banking, real time, digital, and other payment services. It support merchants globally, including Tier 1 and Tier 2 merchants, online-only merchants and payment service providers, independent selling organizations, value-added resellers, and acquirers who service them. Within the Billers segment, the Company provides electronic bill presentment and payment (EBPP) services to companies operating in the consumer finance, insurance, healthcare, higher education, utility, government, and mortgage categories. Its solutions include ACI acquiring, ACI issuing, ACI enterprise payments platform, ACI low value real-time payments, ACI high value real-time payments, and others.