ACI Worldwide Propels National Bank of Kuwait to Become Country’s First Bank to Implement SWIFT gpi
NAPLES, Fla.--(BUSINESS WIRE)--Jan 2, 2019--ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced that National Bank of Kuwait (NBK) has successfully launched SWIFT Global Payments Innovation (gpi) services for its customers, utilizing the built-in gpi capabilities that are integrated into ACI’s flexible, global payments engine. NBK customers can now benefit from same day transfer and use of funds, reduced timelines and greater transparency.
NBK, a pioneering bank in Kuwait and the Middle East and a long-time ACI customer, achieved the milestone through upgrading its existing implementation; joining a growing global gpi community that now includes nearly 300 banks. SWIFT gpi has quickly become the new de facto standard in global payments, with member banks able to send and receive funds quickly and securely to anyone, anywhere in the world, with full transparency over where a payment is at any given moment. With the new integration, NBK continues to strengthen its position to develop value-add services for customers that leverage the enriched data available as part of the new format.
ACI Worldwide, the first certified vendor of SWIFT gpi solutions and a SWIFT partner for more than twenty years, enables banks around the world to take full advantage of real-time, cross-border payment opportunities with a direct connection into the SWIFT central database to monitor inbound and outbound gpi transactions. The gpi Data Service and gpi Connect capabilities are available as part of ACI’s UP Real-Time Payments solution and ACI Money Transfer System.
“Effectively leveraging the richer data of SWIFT gpi messages will allow NBK to further optimize the customer experience and differentiate against competitors,” said Craig Ramsey, Head of Real-Time Payments, ACI Worldwide. “NBK now delivers customers greater transparency and traceability in cross-border transactions, which facilitates better communication and reconciliation for the bank’s customers.”
“NBK is committed to maintaining its leading position in Kuwait through ongoing technological innovations – and this means improving efficiency and adopting the latest advancements to offer better services to customers through the implementation of SWIFT gpi,” said Mohammed Al-Khorafi, General Manager – Operations Group, NBK. “ACI’s certified gpi module enabled us to configure ACI’s Money Transfer System and lead as the first bank in Kuwait, and one of the first in the wider MENA region, to become a SWIFT gpi member bank.”
“ACI has proven to be a reliable and trustworthy partner for NBK, handling payment processing and fraud prevention for high-value transaction banking services,” added Manish Patel, vice president, ACI Worldwide. “Our SWIFT gpi capabilities are increasingly used by banks across the globe; for NBK specifically, our regional support team proved invaluable in delivering remote and on-site support to achieve this significant milestone.”
About ACI Worldwide
ACI Worldwide, the Universal Payments (UP) company, powers electronic payments for more than 5,100 organizations around the world. More than 1,000 of the largest financial institutions and intermediaries, as well as thousands of global merchants, rely on ACI to execute $14 trillion each day in payments and securities. In addition, myriad organizations utilize our electronic bill presentment and payment services. Through our comprehensive suite of software solutions delivered on customers’ premises or through ACI’s private cloud, we provide real-time, immediate payments capabilities and enable the industry’s most complete omni-channel payments experience. To learn more about ACI, please visit www.aciworldwide.com. You can also find us on Twitter @ACI_Worldwide.
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PUB: 01/02/2019 02:00 AM/DISC: 01/02/2019 02:01 AM