Rabobank goes real-time

Rabobank goes real-time

Rabobank is implementing ACI Worldwide’s UP Immediate Payments solution to support SEPA instant payments.

“Real-time is the future of payments processing and we need to offer our customers superior solutions that keep us competitive with the new entrants in financial services,” comments Erik Kwakkel, EVP, payment services, Rabobank.

He explains the bank selected ACI’s system as it is “proven” and can manage the increased transaction volumes “reliably and extensively” as the adoption of immediate payments grows.

The bank is also on the customer list of other payment software providers, including Pelican (formerly ACE Software Solutions) and NCR Alaric.

Europe is experiencing “the onset of new instant payments schemes”, states ACI. It has recently made available the latest version of its UP platform, with new features and a “single point of access to all immediate payments schemes globally”.

It has also been named by EBA Clearing as one of the “frontrunner service providers” for the pan-European EBA SEPA Instant Credit Transfer Scheme (SCT Inst), which due to go live in November 2017. EBA Clearing has recently started testing the new system.