Dutch banking group ABN Amro has selected ACI Worldwide UP Retail Payments solution.

The solution is intended at meeting the needs of the bank’s consumer and corporate customers.

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ACI Worldwide UP Retail Payments solution will speed up developments

The vendor said that its solution will enable the lender to reduce costs by moving to a more cost-effective IT platform. A legacy system can often hold back a bank’s ability to adapt to new changes in the industry.

UP Retail Payments is also said to speed up innovation, and create new revenue streams at the bank.

ACI Worldwide group president Mandy Killam said: “UP Retail Payments equips financial institutions with sophisticated payments processing technology, giving them the flexibility and agility needed to succeed in a changing and very competitive environment.”

The bank already uses ACI’s UP Payments Risk Management solution.

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ABN Amro retail products lead Jonnes Bouma said: “As a longstanding and trusted partner, we are confident that ACI will help us to accelerate our digital payments innovation strategy.

“Deploying UP Retail Payments will allow us to launch new payment products such as wearables and wallets, and create new transaction streams in areas such as public transport while making efficiency savings at the same time, ultimately increasing customer loyalty and revenues.”