Latest news with #ISO20022
Finextra
a day ago
- Business
- Finextra
Transactility adds ISO 20002 compatibility to JPOS infrastructure
Transactility Inc., the company behind the widely used open-source card payments framework jPOS, has announced the release of jPOS 3. 0 This major upgrade introduces ISO 20022 compatibility, improved performance, and enhanced observability features, positioning jPOS at the forefront of the future payment infrastructure. Trusted by some of the world's largest acquirers, issuers and payment schemes, jPOS has powered critical transaction systems for over two decades. With the launch of jPOS 3, Transactility Inc. aligns its framework with modern financial messaging standards, adding support for ISO 20022, enabling payment players to transition toward real-time and instant payments while relying on the same solid and trusted jPOS ecosystem. The update also delivers a significant performance boost. Institutions upgrading to jPOS 3 can expect up to 20,000 transactions per second—a substantial increase over previous versions—achievable even on standard hardware. These performance enhancements are complemented by system scalability and observability improvements, making jPOS 3 an ideal choice for high-volume, latency-sensitive payment networks. jPOS 3 is built on the latest Java technology stack and introduces new capabilities, including structured logging and real-time metric tracking, streamlining regulatory compliance, and improving fault detection. jPOS continues to differentiate itself through its open architecture and developer-friendly design. Engineering teams can rapidly implement and customize payment systems with full source code transparency, significantly reducing development time and vendor dependencies. jPOS 3 is a powerful solution for businesses seeking to modernise legacy infrastructure or replace rigid, closed platforms with something more flexible and future-ready. 'jPOS is a proven, 25-year-old framework adopted worldwide by some of the biggest names in payments,' said Alejandro Revilla, the original creator of jPOS and founder of Transactility Inc. 'For over 25 years, jPOS has quietly powered reliable global payments. With jPOS 3, we're raising the bar—delivering speed, scalability, ISO 20022 compliance, and unmatched ease of use for developers.'
Finextra
6 days ago
- Business
- Finextra
EBAday 2025: Are we ready for ISO 20022?
Is the market ready for the end of the coexistence of ISO and MT messages? What remains to be done in the next few months to realise ISO 20022's full benefits? 0 The afternoon session discussing the end of the ISO 20022 coexistence period was moderated by Kjeld Herreman, founding partner at Paylume, and featured a panel of experts including Christopher Gardner, ISO 20022 programme and change execution director at Deutsche Bank; Domenico Scaffidi, market infrastructure advisor - payments innovation, Bank of England, SAP Member, and executive director at Unifits; Justin Brearley-Smith, global product lead at J.P. Morgan; Sylvain Dauge, product manager - cash clearing services at Société Générale; and Vitus Rotzer, chief product officer - financial messaging global at Bottomline. Herreman began by outlining the specifics of the upcoming ISO 20022 deadline. Highlighting statistics from Swift that forecast 91% readiness by November 2025, as well as a poll to the audience that revealed that 43% of audience members have achieved all outgoing messages in ISO 20022 (interestingly, the next largest answer were the least prepared), he asked the panel about general ISO 20022 readiness across the industry. Brearley-Smith highlighted: 'It certainly seems that our audience here are ahead of the global adoption rates[..], but I honestly think what we'll see is an actual sort of vertical in November with a big bang. We'll probably see some gentle adoption between now and FedWire migration in July, so we'll see the adoption go up. We're at 40% now, so maybe 50, 55%. And then I think we'll plateau before we get to a big bang in November. The reason why I think we'll have this big bang is that we've got another big change coming in in November. It's not just the end of the [coexistence for] payment messages, but we've got hybrid address coming in as well. So I think for those that aren't sending MX now or mid-July/August, they won't be able to go through two rounds of testing and two big implementations in a short time span.' The panel highlighted that many organisations will likely rely have to rely on in-flow translation before achieving the ability to go fully native. 'It's a bit like a long weekend that we have in front of us,' Rotzer commented. 'Everyone takes the highway and we get a traffic jam with all the projects that are ongoing. [..] The key is engaging and aligning with system providers. Everyone is doing initiation, coming in is not really an issue, but they need to manage it properly within different systems, including subsystems. If you haven't started yet, you will be late and, at best, tick the box.' Getting away from translation as quickly as possible is important to achieve the full benefits of ISO 20022, yet Scaffidi emphasised that not all organisations have the resources to effectively go ISO-native. The Swift numbers 'are coming from 175 banks, but what about the other 2000 financal institutions that are medium and small? They do not have the resources to afford the proper migration with all the value that we are discussing today. So there is another important risk that we need to take into account, which is systemic risk.' A second audience poll revealed that 60% of organisations in attendance were opting for a fully native approach, 23% were relying on a mix between being ISO native and relying on translation, and 18% were primarily relying on translation. 'It's really positive to see the native processing,' Gardner stated. 'But I understand the need and necessity for some organisations to use translation depending on the complexity of the architecture.' He continued that as more payment market infrastructures require structural remittance information (e.g., Fedwire with the tax IDs for IRS payments), banks can only meet this demand if they have this information coming in to them as well. Importantly, this upcoming November deadline is just the start of the journey, with Brearley-Smith equating ISO 20022 as the first movie of a blockbuster franchise. He expects reporting and advising to be the next migration priority, with case and enquiry investigation being another crucial aspect. 'It's worth highlighting that the complexities with some of those sequels is not to be underestimated,' Gardner added. 'Case management, for example, isn't like payment messages, where we have just a change of message type and data. This is a holistic change to how the industry is reporting the management of investigations and exceptions. So I ask everyone: Please be working on this now, because it's not going to be long until this comes in.' The panellists additionally highlighted the importance of engaging corporates, and emphasising that a failure to 'produce the use cases for corporates is a failure of migration.' Ultimately, standardisation and richer data will have benefits for the entire industry, however, that is only achievable if the migration is tackled holistically rather than as a tick-box exercise.
Finextra
23-05-2025
- Business
- Finextra
Cimb Bank picks ACI Worldwide payments tech
ACI Worldwide (NASDAQ: ACIW), an original innovator in global payments technology, today announced that CIMB Bank, one of ASEAN's leading banking groups and Malaysia's second largest financial services provider, has chosen ACI's payment solution to converge all account-to-account transactions—real-time, ACH, RTGS and cross-border—onto a single future-proof payments platform. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. As the industry pushes toward ISO 20022 standardization, this new ISO20022-native compliant platform—which serves as the foundation for CIMB Group's regional payments platform, starting from its headquarters in Malaysia—empowers the bank with richer data exchange, straight through processing and insights that enhance interoperability, security and compliance. With the new unified solution, CIMB Bank will reduce the complexity of managing siloed legacy systems to achieve greater efficiency and agility while minimizing cost and risk. 'CIMB's payment transformation is a bold re-architecture of our core payments infrastructure to unify all payment flows. This enterprise-wide initiative is a cornerstone of our Forward30 Strategy, built to future-proof operations, accelerate digital convergence, and deliver seamless, secure, and intelligent payment experiences for both consumers and businesses. Aligned with ISO 20022 and powered by our partnership with ACI Worldwide, CIMB is positioning itself at the forefront of next-generation banking,' said Ros Aziah, Group Chief Technology Officer, CIMB Bank. CIMB Bank and ACI Worldwide were recently recognized at The Asian Banker (TAB) Global Financial Technology Innovation Awards 2025 in the 'Best Corporate Banking and Payment Technology Initiative in Asia Pacific' category. In its evaluation, TAB highlighted the technological differentiation and customer-centric approach demonstrated by CIMB Bank and ACI Worldwide in this project, which not only enhances security, scalability, and performance but also future proofs the bank to adapt quickly to rising customer expectations and evolving regulatory mandates. 'ACI is proud to be the strategic partner behind CIMB's full-scale payment transformation—a complex, end-to-end overhaul that unified CIMB's payment operations across real-time, high-value, low-value, and cross-border transactions onto a modern, enterprise-wide ISO20022 platform — and we are honored that our successful partnership has been recognized with a prestigious industry award. This partnership is a testament to how forward-thinking banks like CIMB can lead in a digital-first economy in Malaysia and across ASEAN,' said Leslie Choo, Senior Vice President, Managing Director – APAC, ACI Worldwide. With 50 years of experience, ACI Worldwide has a strong track record of powering real-time schemes around the world. ACI currently powers 26 domestic and pan-regional real-time schemes across six continents, including 11 central infrastructures. Malaysia's Real-time Retail Payments Platform (RPP) was introduced by the national payments network and central infrastructure provider PayNet in collaboration with ACI. Globally, ACI serves all 10 of the world's largest financial institutions by asset value and provides solutions that move trillions of dollars through more than one billion transactions daily.
Business Upturn
23-05-2025
- Business
- Business Upturn
CIMB Bank Taps ACI Worldwide to Advance Payment Transformation
Singapore & Omaha, Neb., United States: ACI Worldwide (NASDAQ: ACIW), an original innovator in global payments technology, today announced that CIMB Bank, one of ASEAN's leading banking groups and Malaysia's second largest financial services provider, has chosen ACI's payment solution to converge all account-to-account transactions—real-time, ACH, RTGS and cross-border—onto a single future-proof payments platform. As the industry pushes toward ISO 20022 standardization, this new ISO20022-native compliant platform—which serves as the foundation for CIMB Group's regional payments platform, starting from its headquarters in Malaysia—empowers the bank with richer data exchange, straight through processing and insights that enhance interoperability, security and compliance. With the new unified solution, CIMB Bank will reduce the complexity of managing siloed legacy systems to achieve greater efficiency and agility while minimizing cost and risk. This press release features multimedia. View the full release here: From left to right – Leslie Choo, Senior Vice President, Managing Director – APAC, ACI Worldwide | Ros Aziah, Group Chief Technology Officer, CIMB Bank 'CIMB's payment transformation is a bold re-architecture of our core payments infrastructure to unify all payment flows. This enterprise-wide initiative is a cornerstone of our Forward30 Strategy, built to future-proof operations, accelerate digital convergence, and deliver seamless, secure, and intelligent payment experiences for both consumers and businesses. Aligned with ISO 20022 and powered by our partnership with ACI Worldwide, CIMB is positioning itself at the forefront of next-generation banking,' said Ros Aziah, Group Chief Technology Officer, CIMB Bank. CIMB Bank and ACI Worldwide were recently recognized at The Asian Banker (TAB) Global Financial Technology Innovation Awards 2025 in the 'Best Corporate Banking and Payment Technology Initiative in Asia Pacific' category. In its evaluation, TAB highlighted the technological differentiation and customer-centric approach demonstrated by CIMB Bank and ACI Worldwide in this project, which not only enhances security, scalability, and performance but also future proofs the bank to adapt quickly to rising customer expectations and evolving regulatory mandates. 'ACI is proud to be the strategic partner behind CIMB's full-scale payment transformation—a complex, end-to-end overhaul that unified CIMB's payment operations across real-time, high-value, low-value, and cross-border transactions onto a modern, enterprise-wide ISO20022 platform — and we are honored that our successful partnership has been recognized with a prestigious industry award. This partnership is a testament to how forward-thinking banks like CIMB can lead in a digital-first economy in Malaysia and across ASEAN,' said Leslie Choo, Senior Vice President, Managing Director – APAC, ACI Worldwide. With 50 years of experience, ACI Worldwide has a strong track record of powering real-time schemes around the world. ACI currently powers 26 domestic and pan-regional real-time schemes across six continents, including 11 central infrastructures. Malaysia's Real-time Retail Payments Platform (RPP) was introduced by the national payments network and central infrastructure provider PayNet in collaboration with ACI. Globally, ACI serves all 10 of the world's largest financial institutions by asset value and provides solutions that move trillions of dollars through more than one billion transactions daily. About ACI Worldwide ACI Worldwide, an original innovator in global payments technology, delivers transformative software solutions that power intelligent payments orchestration in real time so banks, billers, and merchants can drive growth, while continuously modernizing their payment infrastructures, simply and securely. With 50 years of trusted payments expertise, we combine our global footprint with a local presence to offer enhanced payment experiences to stay ahead of constantly changing payment challenges and opportunities. About CIMB CIMB is one of ASEAN's leading banking groups and Malaysia's second largest financial services provider, by assets. Listed on Bursa Malaysia via CIMB Group Holdings Berhad, it had a market capitalisation of approximately RM75.2 billion as at 31 March 2025. It offers consumer banking, commercial banking, wholesale banking, transaction banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present across ASEAN in Malaysia, Indonesia, Singapore, Thailand, Cambodia, Vietnam and Philippines. Beyond ASEAN, the Group has market presence in China, Hong Kong and UK. CIMB has one of the most extensive retail branch networks in ASEAN with 592 branches and over 33,000 employees as at 31 March 2025. CIMB's investment banking arm is one of the largest Asia Pacific-based investment banks, which together with its award-winning treasury & markets and corporate banking units comprise the Group's leading wholesale banking franchise. CIMB is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 94.8% shareholder of CIMB Thai in Thailand. © Copyright ACI Worldwide, Inc. 2025 ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay and all ACI product/solution names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries or both. Other parties' trademarks referenced are the property of their respective owners. View source version on Disclaimer: The above press release comes to you under an arrangement with Business Wire. Business Upturn takes no editorial responsibility for the same.
Associated Press
23-05-2025
- Business
- Associated Press
CIMB Bank Taps ACI Worldwide to Advance Payment Transformation
OMAHA, Neb. & SINGAPORE--(BUSINESS WIRE)--May 22, 2025-- ACI Worldwide (NASDAQ: ACIW), an original innovator in global payments technology, today announced that CIMB Bank, one of ASEAN's leading banking groups and Malaysia's second largest financial services provider, has chosen ACI's payment solution to converge all account-to-account transactions—real-time, ACH, RTGS and cross-border—onto a single future-proof payments platform. As the industry pushes toward ISO 20022 standardization, this new ISO20022-native compliant platform—which serves as the foundation for CIMB Group's regional payments platform, starting from its headquarters in Malaysia—empowers the bank with richer data exchange, straight through processing and insights that enhance interoperability, security and compliance. With the new unified solution, CIMB Bank will reduce the complexity of managing siloed legacy systems to achieve greater efficiency and agility while minimizing cost and risk. This press release features multimedia. View the full release here: From left to right - Leslie Choo, Senior Vice President, Managing Director – APAC, ACI Worldwide | Ros Aziah, Group Chief Technology Officer, CIMB Bank 'CIMB's payment transformation is a bold re-architecture of our core payments infrastructure to unify all payment flows. This enterprise-wide initiative is a cornerstone of our Forward30 Strategy, built to future-proof operations, accelerate digital convergence, and deliver seamless, secure, and intelligent payment experiences for both consumers and businesses. Aligned with ISO 20022 and powered by our partnership with ACI Worldwide, CIMB is positioning itself at the forefront of next-generation banking,' said Ros Aziah, Group Chief Technology Officer, CIMB Bank. CIMB Bank and ACI Worldwide were recently recognized at The Asian Banker (TAB) Global Financial Technology Innovation Awards 2025 in the 'Best Corporate Banking and Payment Technology Initiative in Asia Pacific' category. In its evaluation, TAB highlighted the technological differentiation and customer-centric approach demonstrated by CIMB Bank and ACI Worldwide in this project, which not only enhances security, scalability, and performance but also future proofs the bank to adapt quickly to rising customer expectations and evolving regulatory mandates. 'ACI is proud to be the strategic partner behind CIMB's full-scale payment transformation—a complex, end-to-end overhaul that unified CIMB's payment operations across real-time, high-value, low-value, and cross-border transactions onto a modern, enterprise-wide ISO20022 platform — and we are honored that our successful partnership has been recognized with a prestigious industry award. This partnership is a testament to how forward-thinking banks like CIMB can lead in a digital-first economy in Malaysia and across ASEAN,' said Leslie Choo, Senior Vice President, Managing Director – APAC, ACI Worldwide. With 50 years of experience, ACI Worldwide has a strong track record of powering real-time schemes around the world. ACI currently powers 26 domestic and pan-regional real-time schemes across six continents, including 11 central infrastructures. Malaysia's Real-time Retail Payments Platform (RPP) was introduced by the national payments network and central infrastructure provider PayNet in collaboration with ACI. Globally, ACI serves all 10 of the world's largest financial institutions by asset value and provides solutions that move trillions of dollars through more than one billion transactions daily. About ACI Worldwide ACI Worldwide, an original innovator in global payments technology, delivers transformative software solutions that power intelligent payments orchestration in real time so banks, billers, and merchants can drive growth, while continuously modernizing their payment infrastructures, simply and securely. With 50 years of trusted payments expertise, we combine our global footprint with a local presence to offer enhanced payment experiences to stay ahead of constantly changing payment challenges and opportunities. About CIMB CIMB is one of ASEAN's leading banking groups and Malaysia's second largest financial services provider, by assets. Listed on Bursa Malaysia via CIMB Group Holdings Berhad, it had a market capitalisation of approximately RM75.2 billion as at 31 March 2025. It offers consumer banking, commercial banking, wholesale banking, transaction banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present across ASEAN in Malaysia, Indonesia, Singapore, Thailand, Cambodia, Vietnam and Philippines. Beyond ASEAN, the Group has market presence in China, Hong Kong and UK. CIMB has one of the most extensive retail branch networks in ASEAN with 592 branches and over 33,000 employees as at 31 March 2025. CIMB's investment banking arm is one of the largest Asia Pacific-based investment banks, which together with its award-winning treasury & markets and corporate banking units comprise the Group's leading wholesale banking franchise. CIMB is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 94.8% shareholder of CIMB Thai in Thailand. © Copyright ACI Worldwide, Inc. 2025 ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay and all ACI product/solution names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries or both. Other parties' trademarks referenced are the property of their respective owners. View source version on CONTACT: Media ContactsACI Worldwide Nick Karoglou | Head of Communications and Corporate Affairs |[email protected] Lyn Kwek | Communications and Corporate Affairs Director |[email protected] Anis Azharuddin / Kelvin Jude Muthu Group Corporate Communications CIMB Group Holdings Berhad Email:[email protected]/[email protected] KEYWORD: UNITED STATES SINGAPORE SOUTHEAST ASIA NORTH AMERICA MALAYSIA ASIA PACIFIC NEBRASKA INDUSTRY KEYWORD: PROFESSIONAL SERVICES PAYMENTS TECHNOLOGY SOFTWARE FINANCE FINTECH BANKING SOURCE: ACI Worldwide Copyright Business Wire 2025. PUB: 05/22/2025 08:00 PM/DISC: 05/22/2025 07:59 PM
