OTP Bank chooses ACI Worldwide to drive its open banking transformation

Wednesday 11 April 2018 11:24 CET | News

ACI Worldwide, a provider of real-time electronic payment and banking solutions, has partnered Hungary’s OTP Bank Group, to drive its digital transformation strategy. 

OTP Bank already uses ACI’s UP Retail Payments Solutions and UP Payments Risk Management Solution and the new partnership will allow the bank to pursue its digital evolution by leveraging ACI’s API Manager capabilities and implement UP Immediate Payments. 

The two solutions will serve as the foundation for the bank’s open banking strategy. UP Immediate Payments allow for the processing and settlement of real-time payments. 

OTP will use the instant payments solution for both the new domestic scheme in Hungary, which is mandatory and launches in 2018, as well as the pan-European schemes, including SEPA Instant Credit Transfer (SCTinst) and TARGET Instant Payment Settlement (TIPS).

ACI’s API manager capabilities are designed to support customers in developing a strategic approach to the emerging open banking payments ecosystem, and to provide the tools to meet established and emerging regulatory requirements including PSD2 and GDPR.

To find out more about ACI Worldwide, please visit our online payments company database for a complete company profile with services and offerings. 

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Keywords: OTP Bank, ACI Worldwide, digital transformation, Open Banking, PSD2, instant payments
Categories: Banking & Fintech | Online & Mobile Banking
Countries: World
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Banking & Fintech

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