In a world where payments are cleared in real-time, we have to be constantly on our toes; as such artificial intelligence, machine learning and pattern matching have become critical
Westpac New Zealand has completed a wide-ranging banking technology transformation, underpinned by ACI’s Universal Payments (UP) portfolio of solutions.
Westpac NZ is utilising ACI’s UP Immediate Payments solution as its financial transaction hub, orchestrating payments across channels, networks and payment types, and settling to any clearing stream in real-time.
Core payment processing is handled by ACI’s UP Retail Payments solution which acquires, authenticates, switches and authorises financial transactions across different channels.
The implementation allows Westpac NZ to make changes at speed and rapidly scale up operations to overcome market challenges, says ACI.
“Building on our close collaborative relationship with ACI, it was logical to partner with them as we shifted to DevOps methodology and practices,” says Westpac NZ CIO Dawie Olivier.
“Implementing ACI’s retail payments solution on Linux positions us to fully capitalise on the transformation of both our IT culture and technology stack,” says Olivier, in a statement.
“We can leverage capabilities across the solutions that are part of ACI’s Universal Payments Framework, and bring them together in a multitude of innovative products.”
ACI says the ability to detect fraud – and well as process payments – in real-time has also become a competitive differentiator for Westpac NZ, as it is the first to benefit from the new features of ACI’s UP Payments Risk Management solution.
“In a world where payments are cleared in real-time, we have to be constantly on our toes; as such artificial intelligence, machine learning and pattern matching have become critical,” says Olivier.
“By upgrading to the latest version of ACI’s risk management solution, we’ve not only boosted our capabilities, but also benefited from quick go-live time due to our existing implementation of ACI’s Universal Payments solutions.”
Phillip Finnegan, general manager, Pacific, ACI worldwide, says Westpac NZ shows how an established bank can transform its IT culture and operations to become nimbler, and supply customers with innovative solutions.
“ACI’s UP solutions provide the underlying technology, but it’s the company’s agile implementation approach that has made this a truly transformative project that has sped up time to market, enabled innovation, and – crucially – reduced the risk of operating in a real-time world,” says Finnegan.
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