ACI Worldwide’s Money Transfer System has achieved the SWIFTReady accreditation for payments for the twelfth consecutive year. The accreditation recognizes that the Money Transfer System satisfies SWIFT’s highest requirements and demonstrates ACI’s commitment to SWIFT’s standards, products and services.
The process for gaining the accreditation was more extensive this year than before, and involved third-party validation of the SWIFT requirements. ACI executed both a technical validation and functional validation to confirm SWIFT program compliance, with special attention focused on readiness for the 202COV being introduced later this year.
SWIFT, the Society for Worldwide Interbank Financial Telecommunication, supplies standards and secure messaging services to financial entities. Candidates for the SWIFTReady accreditation are evaluated on an annual basis to determine their ability to meet a wide range of SWIFT-specific criteria.
The ACI Money Transfer System is a multibank and multicurrency global payments processing and risk management system that provides continuous processing capabilities. With interfaces directly to SWIFTNet services – as well as multiple real time gross settlement (RTGS) and low value networks across the globe – the system is a single, integrated solution for domestic and international payments processing. The ACI Money Transfer System for SEPA supports processing for transactions under the SEPA Credit Transfer and Direct Debit schemes.
