ACI Worldwide to Drive Payments Modernization for South Africa’s Nedbank

Rhea-AI Summary

ACI Worldwide (NASDAQ: ACIW) has partnered with Nedbank, a leading South African bank, to modernize its payment systems using the ACI Enterprise Payments Platform. This collaboration aims to implement real-time mobile payments through ACI’s Low-Value Real-Time Payments. The initiative will support Nedbank's digital transformation, restructure legacy systems, and enhance financial services with advanced solutions to combat fraud and improve customer service. The partnership is a strategic move towards better payment infrastructure in response to the growing demand for digital banking.

Positive

• Partnership with Nedbank to enhance digital transformation.
• Implementation of ACI Low-Value Real-Time Payments for mobile transactions.
• ACI Enterprise Payments Platform enhances payment infrastructure and innovation.

Negative

• None.

• Leading South African Bank to utilize ACI’s award-winning ACI Enterprise Payments Platform
• ACI Low-Value Real-Time Payments will enable Nedbank to offer real-time mobile payments to its customers

MIAMI & LONDON--(BUSINESS WIRE)-- ACI Worldwide (NASDAQ: ACIW), the global leader in mission-critical, real-time payments software, today announced a partnership with one of South Africa’s leading financial services providers, Nedbank, to drive its digital transformation journey including real-time payments.

Nedbank is embarking on a wide-ranging modernization program, migrating all of its legacy systems to ACI’s award-winning ACI Enterprise Payments Platform, including the move to ISO20022, the global financial messaging standard.

Nedbank offers wholesale and retail banking services as well as insurance, asset management and wealth management. Its primary market is South Africa, and it also operates, through subsidiaries and banks, in Eswatini, Lesotho, Malawi, Mozambique, Namibia and Zimbabwe.

The ACI Enterprise Payments Platform is an end-to-end payments hub solution for retail and wholesale payments and encompasses all the capabilities of ACI Issuing, ACI High-Value Real-Time Payments, ACI Low-Value Real-Time Payments, ACI Acquiring and ACI Fraud Management. The solution enables banks to future-proof their payments foundation and meet new customer demands for all payment types across consumer, merchant, and corporate payments.

“We are excited about the modernization journey we have embarked on jointly with ACI,” said Marijke Guest, group technology divisional executive, enterprise payments, Nedbank. “Migrating our legacy systems to the ACI Enterprise Payments Platform will allow us to offer new payment methods with a quick time to market, reduce TCO, increase the speed of innovation, and ultimately prepare our business to successfully compete in the future.”

As part of the migration, Nedbank will utilize ACI Low-Value Real-Time Payments, enabling the bank to offer real-time mobile payments to its customers. ACI Low Value Real-Time Payments is a highly scalable, end-to-end real-time payments solution. It enables banks and processors to connect to all global real-time schemes, deliver value-added services to their customers and respond to the rapidly growing demand for real-time digital banking.

“With the increasing demand for digital and real-time banking services, the need for a solid payment infrastructure has never been greater, and this is why more financial institutions are turning to ACI,” said Brett Stevens, sales director, ACI Worldwide. “ACI Enterprise Payments Platform helps financial institutions around the world like Nedbank to meet the complex challenges of payments modernization.”

To successfully protect customers against rising levels of fraud attacks, Nedbank will also deploy ACI Fraud Management, ACI’s award-winning enterprise fraud management and prevention solution. The solution offers advanced machine learning as well as behavioral biometrics capabilities, predictive analytics, and expertly defined rules, to help banks identify and mitigate financial crime.

About ACI Worldwide
ACI Worldwide is a global leader in mission-critical, real-time payments software. Our proven, secure and scalable software solutions enable leading corporations, fintechs and financial disruptors to process and manage digital payments, power omni-commerce payments, present and process bill payments, and manage fraud and risk. We combine our global footprint with a local presence to drive the real-time digital transformation of payments and commerce.

© Copyright ACI Worldwide, Inc. 2022
ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220222005084/en/

Dan Ring

dan.ring@aciworldwide.com

Katrin Boettger

katrin.boettger@aciworldwide.com

Source: ACI Worldwide

FAQ

What is the partnership between ACI Worldwide and Nedbank?

ACI Worldwide is partnering with Nedbank to modernize its payment systems and implement real-time mobile payments.

How will ACI’s platform benefit Nedbank?

The ACI Enterprise Payments Platform will enable Nedbank to reduce costs, increase innovation speed, and enhance customer service.

What are ACI Low-Value Real-Time Payments?

ACI Low-Value Real-Time Payments is a scalable solution that allows banks to provide real-time payment services.

What is the significance of real-time payments for Nedbank?

Real-time payments will improve customer experience and meet the growing demand for digital banking services.

What role does ACI Fraud Management play in this partnership?

ACI Fraud Management will help Nedbank protect against fraud using advanced machine learning and analytics.