Few operations are more critical to the viability of a financial institution than moving, clearing and settling payments. In today’s global market, customers demand fast, accurate and continuous movement of funds — between accounts and across the world. They expect settlement in multiple currencies and information within seconds of execution.
Whether a financial institution’s business is domestic or international, in one location or many, in dollars, yen, or euros, it must offer innovative products and services to attract and retain customers while satisfying market and regulatory requirements.
A new payments model is emerging, one that blends products and blurs the distinction between high- and low-value payments, between retail and wholesale, and between domestic and international. Faced with increasing competition from non-traditional financial services, financial institutions must rationalise their back offices to gain peak efficiency.
Financial institutions need to ensure that their payment systems comply with national and clearing house regulations, and that they are protected from undue credit exposure. Systemic risk, liquidity management, position monitoring and credit risk are pivotal concerns. The possibilities of fraudulent activities, operational problems and natural disasters create even more uncertainty.
Every day, critical payments originating from institutions and corporations around the globe flow through ACI Worldwide’s suite of products for clearing and settlement. For financial institutions, our payment solutions and expertise provide productivity gains that significantly decrease the cost of doing business.
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Faster Payments: Addressing Fraud in Real Time Payments
Pressure from customers and regulators is forcing banks to increase the speed at which an interbank payment reaches the beneficiary’s account. While many countries are moving to a one-day process, some are moving to real time transactions. This document explores the challenges of fraud particularly for online banking.
Preparing Wholesale Payments for the Post-Financial Crisis World by DataMonitor.
This Datamonitor report, sponsored by ACI Worldwide and IBM, looks at business and technology responses in wholesale payments to the post-financial crisis landscape, and assesses whether a service-oriented architecture (SOA) approach could help to meet these challenges.
