Netherlands-based multinational bank Rabobank is to start using software platform ACI Issuer from electronic payment company ACI Worldwide in an effort to modernize the management of its card portfolio business.
The decision will enable Rabobank to speed up the release of new payment products – including all card types and new tokenized payment products – for consumers and corporate customers.
Rabobank is a longstanding ACI customer. Its selection of ACI Issuer comes against the backdrop of fewer revenue streams for card issuers due to a fast-changing payments landscape and the capping of interchange fees.
ACI’s card management solution is expected to deliver substantial cost savings for Rabobank, helping to establish new, alternative revenue streams. Rabobank already uses numerous ACI products, including UP BASE24-eps as well as UP Immediate Payments, which has helped the company to prepare for the evolution of instant payments and Open Banking in Europe.
Erik Kwakkel, executive vice president of Payment Services at Rabobank said that using ACI Issuer “will allow us to modernize our global card portfolio business, which is part of our long-term strategy to transform our bank into an agile, future-proofed institution.
“We selected ACI Issuer as it will allow us to make efficiency savings and introduce new products at the same time, ultimately increasing customer loyalty and revenues.”