Hungary’s OTP Bank picks ACI for open banking plans
As a “long-standing ACI customer”, OTP already uses ACI’s UP retail payments solution and UP payments risk management solution.
Love is clearly still in the air, as the bank will now use ACI’s API manager capabilities and, in addition, implement UP immediate payments. Both solution sets will “serve as the architectural foundation for the bank’s enterprise-wide open banking strategy”.
Tibor Johancsik, CIO/COO, OTP Bank, says ACI’s UP solutions will be a “significant element of our architecture, playing a substantial role in our own open banking strategy, enabling us to capitalise on the opportunities that PSD2 and real-time payments present”.
According to ACI, UP immediate payments provides connectivity, processing, origination, clearing and fraud detection across multiple real-time schemes, on a single platform.
OTP will be using UP immediate payments for both the new domestic scheme in Hungary, which is mandatory and launches in 2018, as well as the pan-European schemes, including SEPA Instant Credit Transfer (SCTinst) and Target Instant Payment Settlement (TIPS).
Key features of ACI’s API manager capabilities include “connection to any front-end gateway, connection to any back-end system that a bank runs, providing a middleware API layer to help orchestrate the message flows and business logic”.