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Enhanced payment solution improves efficiency E-mail


ACI Worldwide released ACI Money Transfer System 5.0, which offers financial institutions flexibility in defining and managing their payment processing flows.

This most recent update was developed as the result of a collaborative effort between ACI and several of its customers whose design input and suggestions were included in the final version.

"The newest version of Money Transfer System improves the ... solution with a greatly enhanced services framework along with a highly tuned sanctions filter to combat the global issue of sanctions checking," says Jonathan Eber, director and product line manager, Wholesale Payment Engines, ACI Worldwide.

The product leverages the services across financial institutions' organizations as well as further tailors their unique customer offerings.

Money Transfer System 5.0 also provides:

  • Repair Reporting-provides the ability to explain to customers how to correctly format transactions in order to reduce expensive repair activity in the bank's back-office.

  • SWIFT Network Validation Kit-performs validation on messages received through a back-end interface to avoid negative acknowledgements and improve straight through processing.

  • Expanded global clearing channels-expanding the suite of global clearing channels available.
  • [This article was posted on January 15, 2013, on the website of ABA Banking Journal, www.ababj.com.]

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