This is the third in a series of articles on the companies behind online banking. Last week we profiled Fiserv. This article features ACI Worldwide. Dan Ring, vice president of external communications shared information about the company and its role in the FinTech world.
ACI Worldwide: A Long Time Player in Electronic Payments
Over the last decade, ACI Worldwide has been on an acquisition hunt, bringing some 15 companies into its coffers. They are playing the game to win. Their mission is clear – power global commerce with innovative technology solutions. Founded in 1975, today the company has 4,500+ employees and revenues of just over $1 billion. Yet, they are far from a household name.
Q: In a nutshell what does ACI do?
A: ACI Worldwide provides real-time, any-to-any electronic payments solutions to financial institutions, intermediaries, merchants and billers.
Q: What are some of the key things people need to know and understand about the company?
A: We have more than 40 years of payments expertise and customers in 80+ countries. We power electronic payments for more than 5,100 organizations around the world. We have a broad and integrated suite of electronic payment software solutions enabling payments processing for: 125+ billion consumer transactions each year, $14+ trillion in payments and securities transactions each day, $117+ billion in electronic bill payments each year. ACI has a world-class SaaS organization with: more than 4,600 customers in the ACI cloud globally, 24x7x365 monitoring and support.
Q: ACI has made many acquisitions. Can you give an example of how they have shaped the company?
A: We acquired ORCC to further our any-to-any payments strategy with electronic bill presentment and payment services. Three-plus years into the acquisition, we’re now considered among the industry leaders in the EBPP space. We now count thousands of bill pay customers that utilize our market-leading bill payment platform, Universal Payment (UP) Bill Payment Solutions, to elevate customer engagement (by 30%), reduce customer service calls (by up to 10%), decrease costs of document delivery (by up to 50% through replacing paper with electronic documents) and more.
Q: How has ACI Worldwide made a difference?
A: More than 1,000 of the largest financial institutions and intermediaries, as well as thousands of leading merchants globally rely on us to execute $14 trillion each day in payments. In addition, thousands of organizations utilize our electronic bill presentment and payment services.
Q: What are some of the challenges your customers face?
A: The big challenge that customers (continue to) face is industry disruption (and its associated speed of change). Financial services, among many other industries, such as merchant retail, face major disruptive forces, but these forces actually serve as real catalysts for innovation. Our UP solutions and underlying technology framework, the UP Framework (consisting of flexible, open payment services), enable financial services (as well as merchant and eCommerce) customers worldwide to innovate quickly, reduce risk and gain choice, flexibility and control over their payment strategies.
Q: What role does ACI Worldwide play in the FinTech world?
A: We empower organizations with end-to-end enterprise payment capabilities, accelerating time to market, reducing risk, growing revenues and controlling costs. UP is at the core of our strategy to enable real-time, any-to-any payments. It is a set of technologies and a framework that orchestrates all aspects of payments processing for any payment type, any channel, any currency and any network. Combined with our leading solutions, UP delivers an innovative architecture that bridges existing systems and future needs.
Q: What’s next?
Ring didn’t say, but a company that spends 14% of its annual revenue on R&D is up to something!