ACI Worldwide Leverages New Trade Finance and Cash Management Solutions
Monday, April 16, 2007
(Omaha, Neb. – 16 April 2007) – ACI Worldwide (NASDAQ: TSAI), a leading international provider of software for electronic payment systems, today announced its strategy for leveraging the recently acquired trade finance and cash management solutions of Visual Web Solutions, Inc. The acquisition allows ACI to expand its global cash management capabilities with multi-language and multi-currency support, while offering an end-to-end trade finance solution for both traditional and open account trading.
Visual Web’s market-ready trade services are an ideal complement to ACI’s robust wholesale banking and payments suite. Through the acquisition, ACI now offers a single product for end-to-end trade finance that provides back-end trade processing for bank operations as well as an integrated front-end open account trading vehicle for bank and customer use. The solution is fully compliant with the SWIFT Trade Services Utility (TSU) and supports standard purchase order formats between buyer and seller. The solution is built using a modern service-oriented architecture, offers integrated payment processing, and supports the integration of buyer/seller financing with bank accounting systems.
ACI is offering its new trade finance solution as a standalone product or bundled with its existing solutions for online banking, automated enrollment and payment processing. The products are immediately available to financial institutions worldwide.
Ralph Dangelmaier, president of the wholesale banking group at ACI, said, “We are committed to growing our wholesale banking business domestically and overseas, and the expansion of proven cash management and international trade services is an important aspect of our strategy. The acquisition of Visual Web and its prestigious client list expands our solution suite, broadens our customer base, and strengthens our staff to include more than 430 people focused exclusively on development, marketing and support of wholesale payment solutions. With support for multi-currency payment processing, multi-lingual information reporting and an outsourced hosting option, our products are ideally suited for users throughout the world.”
About ACI Worldwide
Every second of every day, ACI solutions are at work processing electronic payments, managing risk, automating back office systems, and providing application infrastructure services. Founded in 1975, ACI is a leading international provider of solutions for retail banking, wholesale banking, and cross-industry systems. ACI serves more than 800 customers in 83 countries including many of the world's largest financial institutions, retailers, and payment processors. Visit ACI Worldwide on the Internet at www.aciworldwide.com.
Any statements in this press release regarding projected results are preliminary and "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, this press release may contain other forward-looking statements including statements regarding Transaction Systems Architects, Inc.’s (“TSA”), its subsidiaries or third parties’ expectations, predictions, views, opportunities, plans, strategies, beliefs, and statements of similar effect. The forward-looking statements in this press release are subject to a variety of risks and uncertainties. Actual results could differ materially.
For a detailed discussion of these and other risk factors, interested parties should review the Company's filings with the Securities and Exchange Commission, including the Company’s Form 10-K filed on December 14, 2005, the Company’s Form 10Q filed on February 9, 2006, the Company’s Form 10Q filed on May 10, 2006, and the Company’s Form 10Q filed on August 9, 2006.