ACI And Nationwide Celebrate 20 Years of Innovation; ACI's Flagship BASE24 Payments Software Delivers Outstanding Reliability.WATFORD, England -- ACI ACI American Concrete Institute
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ACI American Competitiveness Initiative Worldwide (Nasdaq:TSAI TSAI Transaction Systems Architects Inc ), a leading international provider of enterprise payment solutions, recently commemorated 20 years of business partnership with Nationwide, the world's largest building society. Nationwide has relied upon ACI's flagship BASE24(R) software since 1985 to provide innovative, secure and reliable ATM and POS (1) See point of sale and packet over SONET.
(2) "Parent over shoulder." See digispeak.
POS - point of sale transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time.
Transaction processing systems are the backbone of an organization because they update constantly. .
Nationwide uses ACI's BASE24 payments software to enable its 11 million members to access their money across multiple transaction channels including ATM, POS, branch, telephone, and Internet devices. Through the use of BASE24(R), Nationwide was one of the first building societies to adopt ATM technology in the UK and was a founding member of the UK's shared ATM network, LINK Interchange Network Ltd.
Nationwide has also implemented web services (1) Loosely, any online service delivered over the Web. Such usage appears in articles from non-technical sources, but not in IT-oriented publications, because definition #2 below describes the correct use of the term. using the WebGate(TM) web server solution from Insession Technologies on BASE24 to facilitate the provision of new functionality across its self-service channels. This approach has enabled the acceleration of development to allow for more rapid deployment of new services for the society's members. Insession Technologies and ACI are Transaction Systems Architects, Inc. companies.
The recent agreement by Nationwide to use the ACI Automated Key Distribution System for ATM and other potential devices exemplifies the continuing relationship. The software will help Nationwide lower the cost of securely generating and delivering encryption keys to devices. Today, ACI's BASE24 software processes around 90 million transactions per month across Nationwide's network of 2,300 ATMs and other channels.
"With the help of ACI, Nationwide has been able to deliver a range of top quality, competitive financial services that are widely available and delivered with speed and reliability," said Dr. Michael Humphreys, head of technology development at Nationwide. "As Nationwide has grown, ACI's BASE24 solution has evolved and scaled with us, delivering the reliability and flexibility to ensure that our multi-channel payment networks have been available to our members 24/7."
"We are delighted to celebrate this milestone with Nationwide, one of ACI's long-standing customers," said Richard Launder Launder
To move illegally acquired cash through financial systems so that it appears to be legally acquired. , managing director, ACI Worldwide. "BASE24's core values of scalability, flexibility and reliability have helped Nationwide deliver the highest quality service. We look forward to continued excellence for the next 20 years and beyond."
Steve Wright, vice president of sales and marketing for ACI, marked the occasion with a formal presentation to the Nationwide team.
About Nationwide Building Society
Nationwide is the world's largest building society with 11 million members and assets of over EUR EUR
In currencies, this is the abbreviation for the Euro.
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 110 billion. Nationwide has mutual (as opposed to Public Limited Company) status, which means that it is owned by its members and is run day-to-day by an executive management team overseen by an elected board of directors. Nationwide offers a broad range of retail financial services including mortgages, savings, current accounts, life assurance and investment products, personal loans and household insurance. The Society is the UK's fourth largest mortgage lender and the seventh largest high street financial services institution in the UK by asset size. Nationwide's members can manage their finances through 880 retail outlets, by telephone, internet and post.
The Society has more than 16,000 employees. Nationwide's head office is in Swindon with a second administration centre based in Northampton.
About ACI Worldwide
Every second of every day, consumers are initiating electronic payment transactions--getting cash at ATMs, using debit and credit cards to make purchases in stores and on the Internet, banking by phone and PC, and paying bills online. Over 50 billion times a year, ACI software is used to process these transactions, powering the world's online payment systems. ACI was founded in 1975 and pioneered the development of applications and networking software for online transaction processing See transaction processing and OLCP. . Today more than 500 customers in 83 countries use ACI supplied software to route and authorize electronic payment transactions; detect fraud and money laundering The process of taking the proceeds of criminal activity and making them appear legal.
Laundering allows criminals to transform illegally obtained gain into seemingly legitimate funds. ; issue and manage magnetic stripe and smart cards; deliver secure electronic correspondence; and automate payment settlement and claims processing. Visit ACI Worldwide on the Internet at www.aciworldwide.com
Any statements in this press release regarding projected results are preliminary and "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. In addition, this press release may contain other forward-looking statements including statements regarding Transaction Systems Architects, Inc.'s ("TSA TSA
See tax-sheltered annuity (TSA). "), its subsidiaries or third parties' expectations, predictions, views, opportunities, plans, strategies, beliefs, and statements of similar effect. The forward-looking statements in this press release are subject to a variety of risks and uncertainties. Actual results could differ materially.
For a detailed discussion of these and other risk factors, interested parties should review the Company's filings with the Securities and Exchange Commission, including the Company's Form 10-K Form 10-K
A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.
See 10-K. filed on December 14, 2004, the Company's Form 10-Q/A filed on February 18, 2005, the Company's 10-Q filed on May 10, 2005, the Company's Form 8-K Form 8-K
The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock.
See 8-K. filed on July 1, 2005, and the Company's Form 10-Q Form 10-Q
See 10-Q. filed on August 9, 2005.