ACI Worldwide, Inc. (NASDAQ: ACIW) and Mastercard (NYSE: MA) confirmed that Peru’s Cámara de Compensación Electrónica (CCE), has earned the Celent Model Bank 2022 Award for Payments Infrastructure. The awards honor financial organizations that demonstrate best practices in the use of technology in a variety of areas crucial to banking performance.
The strategic cooperation between ACI and Mastercard delivers global real-time payment solutions. The integrated solution from ACI and Mastercard was chosen by CCE to spearhead its real-time payments transformation effort. CCE, which was founded by Peruvian banks, is the major clearinghouse for the Peruvian financial system, supporting interbank transfers and checks. CCE, which connects more than 30 financial institutions in Peru, is at the heart of the country’s payments system.
Celent claims that for a variety of reasons, CCE, the partnership‘s first customer, chose the joint solution. First, both ACI and Mastercard have considerable global real-time payment experience, having been involved in the development of 18 real-time payment schemes around the world. CCE wanted to use that technology and implementation skills to make sure the system was on par with the best in the world.
Furthermore, every piece of a central infrastructure, including software, scheme rules, digital overlay services, testing, participant connectivity, and onboarding, was expected to be best-in-class, according to CCE. This end-to-end model would enable quick time to market and the flexibility to evolve.
“CCE’s success demonstrates how its payments modernization will strengthen Peru’s economy and create greater financial inclusion for the country’s 23 million unbanked residents,” said George Evers, Mastercard’s senior vice president of Real-Time Products. “We’re ecstatic to have been a part of the development of this technology.” Our knowledge, skills, and close collaboration with ACI Worldwide are enabling innovation all across the world, boosting economies, empowering businesses, and enhancing people’s lives.”