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Leverage UK's Open Access for Immediate Payments

UK Faster Payments offers a first-of-its-kind 'open' operating environment for immediate payments through its New Access Model.

Originally, only a handful of larger banks with ‘direct member’ status could directly connect to UK Faster Payments in order to offer their customers a true, real-time experience. But now, every payments player – small to mid-size banks, FinTechs, insurers, etc., - can do the same. 

Check out the below infographic to better understand the faster payments business case and how your business can join the real-time playing field under the UK’s open access model.

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Providers of all Types Gain Real-time Opportunity

The UKs New Access Model has the attention of small to mid-size banks, FinTechs and other players that operate in the UK. These payment providers stand to gain a lot from real-time processing, but don’t meet the licensing requirements of the original model. In less than seven minutes, ACI explains the business case for gaining direct access through the new model for Faster Payments, and how it ties in with the emerging Open API trends. By leveraging both speed and open data capabilities, payment providers can position ahead of competitive threats and realize new opportunities for innovation and business growth

ACI’s Aggregator Service for UK Faster Payments

ACI’s aggregator service, built on UP Immediate Payments, is FPSL certified to meet the UK Faster Payments connectivity requirements. It enables any payments organization to connect to the scheme following the New Access Model (or aggregator approach), which means customers have multiple options depending on the needs of their business.

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MPE 2017

ACI manages a complete data center for our faster payments solution, including connectivity and technical compliance. Our investment in hardware and software ensure every client’s solution operates optimally 24x7x365 within the most modern, state-of-the-art processing environment.

Reliability

  • Accreditation to meet all Faster Payments scheme requirements
  • Active-active deployment ensures continuous 24x7 service to you and your customers

Efficiency

  • Offers speed to revenue - we on-board you quickly with a predictable budget
  • Provides all connectivity and IT expertise

Innovation

  • Address new markets as country schemes expand to meet growing eCommerce needs
  • Create new real-time features for unique customer segments

Security

  • Enterprise risk and vulnerability management program
  • Comprehensive internal audit supports IT and business processes, risk management and mitigation

Compliance

  • Consultation to efficiently guide end-to-end testing
  • Ongoing support for scheme changes