The bank is leveraging the ACI money transfer system for SWIFT, The clearing house interbank payments system (CHIPS) processing and as an interface to the US Federal Reserve Bank Fedwire system. Future phases will interface to additional central banking systems, messaging systems, net settlement systems and clearing houses, such as Fed Book Entry Securities and Telex. In addition, the bank is leveraging the scalability of ACI solution to centrally manage large-scale liquidity transactions and enhance monitoring capabilities.
The ACI Global Payments Hub provides a consolidated, enterprise payments solution for internal and external financial message switching. The solution is a gateway to various financial networks such as SWIFT, telex, and a number of real time gross settlement (RTGS) systems. By replacing several messaging gateways with a single message hub, the bank will achieve greater efficiencies and consistency across all operations and products.
