Erste Bank Hungary updates retail payments hub with ACI Worldwide
Erste Bank Hungary is implementing ACI Worldwide’s UP Retail Payments solution, upgrading from the older versions of ACI’s solutions.
The bank will also deploy ACI Proactive Risk Manager (a fraud management solution) and ACI Interchange (central monetary transaction manager) to calculate interchange fees.
Erste and ACI have been working together since 2003.
Tamás Foltányi, COO of Erste Bank Hungary, comments that UP Retail Payments will ensure the bank’s full compliance with new European regulations, such as the EU Payments Services Directive (PSD2) – as it will enable faster implementation of open APIs and facilitate the development of instant payments.
UP Retail Payments is an amalgamation of solutions and services developed (as well as acquired) by ACI over the years. These include the long-standing payments processing solution, Base24, and its newer version, Base24-eps, plus the payment orchestration layer, UP Framework.