ACI Worldwide To Power Payments for U.K. Retailer Co-op in Cloud
- Successful migration to ACI's multi-tenant cloud platform
- Enhanced scalability and security for Co-op's operations
- Potential risks associated with cloud migration
- Impact of migration on Co-op's financials
The transition of Co-op's payment and fraud prevention systems to ACI’s cloud platform represents a strategic move to optimize operational efficiency and scalability. By leveraging a cloud-based infrastructure, Co-op is likely to benefit from reduced operational costs and increased flexibility to handle varying transaction volumes, which is crucial for retail businesses that experience seasonal peaks.
From a market perspective, this shift could signal a broader trend among retailers to adopt cloud solutions for critical operations, potentially increasing demand for services provided by companies like ACI Worldwide. Investors should monitor the adoption rates of such services and the competitive landscape of providers, as these factors could influence market share and revenue growth for ACI.
Co-op’s emphasis on security and enhanced data protection is a significant aspect of this migration. The retail sector is increasingly targeted by cyber threats and a robust cloud platform like ACI's, which is hosted on Microsoft Azure, is expected to offer advanced security features that can help mitigate these risks.
For stakeholders, the implications are twofold: there's the potential reduction in the risk of costly data breaches and the enhancement of customer trust, which can translate into customer retention and brand loyalty. However, stakeholders should remain aware of the ongoing need for cybersecurity vigilance, as the threat landscape is constantly evolving.
ACI Worldwide's stock (NASDAQ: ACIW) could see an impact from this announcement, as successful implementation of large-scale migrations can strengthen its market position and reputation. Investors will be interested in the financial metrics post-migration, such as changes in operating margins and customer acquisition costs.
Long-term benefits for Co-op may include cost savings and potentially increased sales due to improved customer experiences. However, the initial costs and the smoothness of the transition will be critical to watch in the short term. Any disruptions could affect Co-op's sales and ACI's project delivery reputation.
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Leading
U.K. retailer Co-op has successfully moved its full stack of payments and fraud prevention software into ACI’s multi-tenant cloud platform hosted in Microsoft Azure. - Migration will enable Co-op to run its operations more efficiently, providing scalability, security and enhanced data protection.
As a strategic technology partner of ACI Worldwide, Co-op uses the full range of solutions offered by ACI Payments Orchestration Platform, including in-store, online and mobile payment processing and end-to-end payments and fraud management.
Moving its payments software into the cloud will enable Co-op to operate more efficiently, providing scalability, security and enhanced data protection. The migration, which has been completed successfully, follows ACI’s announcement of an expanded multi-year strategic alliance with Microsoft to deliver payment solutions in the cloud.
ACI’s relationship with Microsoft also supports ACI’s AI-powered anti-fraud processing model, featuring patented, proprietary incremental learning technology that allows clients to run payment operations securely and with high resiliency, all while protecting transactions and customers’ privacy.
“We are extremely happy about the successful completion of this very challenging and complex project, for which ACI’s support and expertise has been invaluable,” commented Paul Fletcher, principal solution architect, Co-op Group. “We are always looking for new ways to meet the needs of our member-owners and customers with the security of data paramount in our approach. The nature of the technology means we’ll be able to do things faster and more efficiently, and deliver new, seamless and secure payments experiences to our customers.”
“Our alliance with Microsoft has accelerated and expanded ACI’s cloud payment offerings in Microsoft Azure,” commented Scotty Perkins, head of product management innovation and modernization, ACI Worldwide. “Co-op is a great example of how ACI’s flexibility, proven technology and global expertise can help merchants and financial institutions meet the increasing demands of digital transformation as they increasingly embrace more efficient business and operating models.”
About ACI Worldwide
ACI Worldwide is a global leader in mission-critical, real-time payments software. Our proven, secure and scalable software solutions enable leading corporations, fintechs and financial disruptors to process and manage digital payments, power omni-commerce payments, present and process bill payments, and manage fraud and risk. We combine our global footprint with a local presence to drive the real-time digital transformation of payments and commerce.
About Co-op
Co-op is one of the world’s largest consumer co-operatives with interests across food, funerals, insurance and legal services. Owned by millions of
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Nick Karoglou: nick.karoglou@aciworldwide.com
Katrin Boettger: katrin.boettger@aciworldwide.com
Source: ACI Worldwide
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