ACI Worldwide has secured a significant contract with Federal Home Loan Bank of Atlanta to provide payment processing infrastructure through its ACI Connetic platform. The deal will support FHLBank Atlanta’s member funding services, specifically handling transactions on the Fedwire Funds Service, the Federal Reserve’s real-time gross settlement system used for high-value interbank transfers.
The announcement comes as financial institutions continue modernizing their payment rails to handle growing transaction volumes and meet evolving regulatory requirements. FHLBank Atlanta serves as a regional cooperative providing liquidity and funding to member financial institutions across Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia.
The partnership positions ACI Worldwide to capture more market share in the critical financial infrastructure space, particularly among government-sponsored enterprises. For FHLBank Atlanta members, the implementation should enhance processing reliability and speed for wholesale funding operations.
FXnCO Insight
Watch ACI Worldwide shares for potential upside as government-backed financial institution contracts typically signal strong recurring revenue streams and opportunities for additional regional Federal Home Loan Bank wins.
Source: Finextra