Utkarsh works on ACI’s UP BASE24-eps

ACI Worldwide has helped transition of Utkarsh Small Finance Bank (USFB) to the latest version of its UP Retail Payments solution, completing a rapid technological transformation for one of India’s fastest-growing small finance banks.

The milestone was achieved through ACI’s long-standing strategic partnership with AGS Transact Technologies (AGSTTL), one of India’s leading end-to-end payment solutions providers.

ACI’s UP Retail Payments solution, featuring UP BASE24-eps, is a market-leading enterprise-class payments solution that enables institutions to acquire, authenticate and authorize, route and protect card and digital payments from multiple channels.

ACI’s UP solutions are relied upon by 18 of the world’s top 20 banks and used in 59 countries, and the global payments company has a proven track record in the Indian market.

Varanasi-based Utkarsh Small Finance Bank, by transitioning to the latest iteration of ACI’s solution, can process conventional as well as multiple new transaction types through UP Retail Payments.

Utkarsh will also be in a position to access the set of APIs developed by the National Payments Corporation of India’s (NPCI) UPI initiative, which connect banks’ issuing systems to central infrastructures and payment service providers (PSPs).

“Together with AGS, we have a strong track-record of enabling innovation and connecting financial institutions, banks and merchants across the diverse Indian payments ecosystem,” said Manish Patel, vice president, ACI Worldwide.

“With UP Retail Payments, Utkarsh not only has peace of mind from a regulatory standpoint by adhering to data localization guidelines, but also access to a suite of powerful payment solutions that encompass cross-channel payments, real-time fraud prevention and transaction management capabilities — something only ACI can provide,” he said.

ACI Worldwide, the Universal Payments (UP) company, powers electronic payments for more than 5,100 organizations around the world. fiinews.com