Business
Kiwibank Accelerates Real-Time Services with New ACI Worldwide SaaS Solution
MIAMI & AUCKLAND, New Zealand & SINGAPORE--(BUSINESS WIRE)-- Kiwibank has taken the next step in delivering real-time experiences for its customers, after
About this update from Aci Worldwide, Inc.
[{"type":"text","content":" MIAMI & AUCKLAND, New Zealand & SINGAPORE--(BUSINESS WIRE)--\nKiwibank has taken the next step in delivering real-time experiences for its customers, after entering into a strategic partnership with ACI Worldwide, (NASDAQ: ACIW) a leading global provider of real-time digital payment software.\n\nThe landmark agreement will see ACI provide and run Kiwibank’s newly installed, full capability Payment Hub: a SaaS solution hosted in the Microsoft Azure cloud. The flexibility of ACI’s cloud-native payment solution ensures that any service Kiwibank requires is available on a secure cloud-based platform.\n\nThe announcement comes as New Zealand’s banking and financial sectors accelerate their transformation to fully digital businesses and prepare for a series of industry changes.\n\n“Due to rapid technological change, many consumers now expect almost everything to be available instantly and the payments system is no exception. The nature of cloud technology means we’ll be able to do things faster and more efficiently, and we’ll be able to deliver those simple and seamless experiences customers now demand,” said Elliot Smith, Chief Product and Strategy Officer, Kiwibank. “The business benefits of real-time payments are huge, including enhanced cash flow management and improved liquidity. This improvement will be especially impactful to small merchants that may be used to waiting days for their settlement.”\n\nThe digital and real-time payment market is rapidly changing with new, more sophisticated customers, a rapidly expanding set of form factors and payment types, and more active and engaged regulators.\n\n“This relationship with ACI supports Kiwibank’s long-term strategies for efficiently dealing with future payment needs. It gives Kiwibank access to some of the biggest technical resources in the world and will lower the cost of operating multiple – and growing – payments services, such as related back-office functions and any overlapping IT infrastructures,” Smith continued.\n\nAs customers become more sophisticated and educated, a one size fits all banking model is no longer sufficient. It challenges banks to provide a more flexible and personalized digital experience that can cater to ongoing change, complexity, and uncertainty.\n\nThe SaaS solution will do just that. By utilizing ACI’s technology, and cloud partner, Microsoft Azu...