Security News > 2020 > September > Hungarian financial institutions leveraging ACI Worldwide’s Real-Time Payments solution

Hungary is among numerous countries in Eastern Europe poised for an explosion in real-time payments growth, with several Hungarian banks and intermediaries leveraging ACI's unrivalled Real-Time Payments solution to capitalize on the expected rise in digital transaction volumes.

Long-standing customer OTP Bank is leveraging ACI's Real-Time Payments solution to connect to the scheme; the solution offers a complete range of capabilities for processing real-time payments, including origination, processing, clearing, fraud detection and connectivity-all on a single platform.

Erste Bank Hungary, another long-standing ACI customer and a member of Erste Group, one of the largest financial services providers in Central and Eastern Europe, is leveraging ACI's Retail Payments solution to meet real-time balance compliancy requirements for the domestic real-time scheme and PSD2. In addition, the bank utilizes ACI's Payments Risk Management solution to reduce fraud losses and to satisfy PSD2 requirements.

"The launch of the domestic real-time scheme in Hungary presents an opportunity for financial institutions to drive new levels of digital transaction volumes and develop new digital overlay services," said Craig Ramsey, general manager and head of real-time payments, ACI Worldwide.

"Banks in Hungary are some of the first in the region to fully future-proof their payments infrastructure while laying the foundations for growth. ACI's solutions ensure that financial institutions can take advantage of the new opportunities PSD2 and real-time payments present by delivering openness while also ensuring the highest levels of privacy, data protection and fraud prevention for their clients."

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