One of Hungary’s largest banks, Erste Bank Hungary (EBH), is enhancing its electronic payment services by working more closely with partner ACI Worldwide.
ACI will be powering EBH’s updated electronic payment options using ACI’s UP Retail Payments solution. The goal, both companies say, is to spur continued growth across Europe.
“As the payments landscape presents countless new business opportunities, it also presents considerable pressures to lower costs and increase margins. ACI provides innovative banks, like Erste, with the ability to seize opportunities, while maintaining their bottom lines,” said Sylvie Boucheron, SVP of financial institutions in North America and Europe for ACI Worldwide, in a press release.
The new initiative is an upgrade from the older versions of ACI’s solutions, as EBH and ACI have been working together since 2003. EBH is part of the Erste Group, which works with 15.8 million clients in Austria, Czech Republic, Slovakia, Romania, Hungary, Croatia and Serbia.
ACI’s UP Retail Payments solution will focus on payment type, channel, currency or network and also intends to help EBH to protect the bank’s existing infrastructure regarding its investments and payments. In addition to the added payment options, EBH will calculate interchange fees using ACI Interchange, a central monetary transaction manager, as well as ACI Proactive Risk Manager, which manages fraud.
Tamás Foltányi, COO of Erste Bank Hungary, says ACI’s UP Retail Payments will lead to faster development and increase the implementation of instant payments. The updates will also ensure that EBH is complying with any new European regulations, including the European Commission’s Payments Services Directive (PSD2), aimed at standardizing and making interoperable card, internet and mobile payments.
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