Canada’s BMO Financial Group has tapped ACI Worldwide to speed up new products to market including Zelle’s B2C payments.
This will be done through BMO’s Payment Hub, which leverages ACI’s UP Real-Time Payments solution.
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By GlobalDataACI, a technology partner of Zelle, addresses firms’ requirements related to real-time gross settlement (RTGS), SWIFT messaging, ACH and faster payments with UP Real-Time Payments.
The technology of ACI is said to facilitate faster time to market and cash flow management.
It is also said to support fraud detection.
Using UP Real-Time Payments, BMO gains connectivity to real-time payment networks from one hub.
According to the vendor, this will enable BMO to offer faster payments.
In the recent times, various firms opted for ACI’s UP Real-Time Payments solution.
The latest to join the fray is Vocalink, which aims to accelerate the adoption of real-time payments in Saudi Arabia using the ACI solution.
Recently, the solution was also tapped by Indonesian interbank network ALTO, interbank network BANRED in Ecuador, and Norwegian technology firm EVRY.
ACI head of real-time payments Craig Ramsey said: “BMO embarked on a transformational project that has already proven to be fruitful. And, adding Zelle faster payments is only the beginning.
“With ACI’s UP Real-Time Payments solution, BMO has the freedom to rapidly make strategic or tactical moves, and realise new market opportunities essential to their success.”
