ACI Worldwide, Capsys, T-Systems to power majority of Hungary's real-time payments

Tuesday 1 September 2020 09:27 CET | News

ACI Worldwide, a global provider of real-time digital payment software and solutions, has announced that it powers approximately 75% of Hungary’s real-time payments.

The announcement was made after the successful go-live of the country’s domestic real-time scheme. The scheme mandates that all transactions below HUF10M (USD 34,000) must be processed immediately.

OTP Bank, Erste Bank Hungary (EBH), and Takarekinfo have successfully connected to the country’s domestic real-time scheme, marking a transition from the batch-based legacy system, IG2. These banks are all ACI customers in Hungary, according to the official press release. The go-live has been supported by ACI partners Capsys and T-Systems.

For instance, OTP Bank is leveraging ACI’s Real-Time Payments solution to connect to the scheme; the solution offers functionalities for processing real-time payments, including origination, processing, clearing, fraud detection, and connectivity. Moreover, OTP uses ACI’s API Manager; both solutions serve as the architectural foundation for the bank’s enterprise-wide Open Banking strategy.

Takarekinfo, a Hungarian banking IT systems integrator, is also utilising ACI’s Real-Time Payments solution to connect three large Hungarian banking groups to the new scheme—the Takarek Group (uniting more than 120 former savings cooperatives across the country), Budapest Bank, and MKB Bank.

Erste Bank Hungary (EBH) is using ACI’s Retail Payments solution to meet real-time balance compliancy requirements for the domestic real-time scheme and PSD2.

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Keywords: ACI’s Retail Payments, PSD2, banking, Hungary, real time payments, OTP Bank, Erste Bank Hungary, EBH, Takarekinfo, Capsys, T-Systems, origination, processing, clearing, fraud detection
Categories: Banking & Fintech
Countries: Hungary
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Banking & Fintech

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