MIDDLETON, Mass., Dec. 17, 2021 /PRNewswire/ -- Quadrant Knowledge Solutions recently announced that it has named ACI Worldwide https://www.hcltechsw.com/as a 2021 technology leader in the SPARK Matrix analysis of the global Card Management System (CMS) market.
The Quadrant Knowledge Solutions SPARK Matrix includes a detailed analysis of the global Card Management System (CMS) market dynamics, major trends, vendor landscape, and competitive positioning. The study provides competitive analysis and ranking of the major CMS vendors in the form of SPARK Matrix, providing strategic information for users to evaluate different vendor capabilities, competitive differentiation, and market positions.
Due to the disruptions caused by the pandemic, a robust card management mechanism is much needed. Critical investments in CMS solutions are expected to grow, with organizations focusing more on security, and seamless user experience being the new long-term strategy to retain customers for the long term. Driven by the continued innovation and investments from leading vendors, modern CMS platforms provide a wide range of advanced functionality for multiple use cases supporting multi-product, multi-language, multi-currency, multi-scheme, and all payment types, including contactless, QR code, in-app payments, tokenization, and others.
According to the "SPARK Matrix: Card Management System (CMS), 2021," a majority of the leading CMS vendors provide capabilities including card lifecycle management, behavioral scoring, dispute management, account management, clearing and settlement, accounting, application processing, fraud monitoring & risk management, authentication & authorization, analytics & insights, customer communication, and compliance & reporting.
ACI Worldwide offers a card and merchant management (CMM) solution suite enabling financial institutions to both manage existing and introduce new payment products, fine-tuned across the customer segment. CMM offers three key functional offerings: Issuing, Acquiring and Clearing & Settlement of retail payments. The CMM suite provides a comprehensive card management solution across credit, debit, smart card, pre-paid, tokenized, and corporate card verticals. ACI Worldwide's CMM solution offers key capabilities and features, including online authorization services, card, token, and account management, clearing and settlement services, enablement for emerging and alternative payment methods, integration and orchestration capabilities, API infrastructure, connectivity to a wide number of card networks, payment schemes and value-added services in the industry, and a wide range of APIs and web services.
According to Pradnya Gugale, analyst at Quadrant Knowledge Solutions, "ACI Worldwide's Card and merchant management suite (CMM) offers comprehensive card management capabilities across credit, debit, smart card, pre-paid, tokenized, and corporate card verticals. By combining its sophisticated technology platform, comprehensive functional capabilities, and strong customer value proposition, ACI Worldwide is well-positioned to expand its market share in the global card management systems market," added Gugale.
Quote by ACI Worldwide:
"We are honored to be positioned as a Card Management Systems leader. We have designed and implemented our ACI Issuing solution to allow financial institutions to rapidly launch new services, process new transactions, enter new markets and support business growth while modernizing their legacy systems," said Javier Pino, principal issuing product manager, ACI Worldwide.
Additional Resources:
- For more information about ACI Worldwide's Card Management System solution: Link
- Complimentary Download - SPARK Matrix: Card Management System (CMS), 2021: Link
About ACI Worldwide:
ACI Worldwide is a global software company that provides mission-critical real-time payment solutions to corporations. Customers use our proven, scalable and secure solutions to process and manage digital payments, enable omni-commerce payments, present and process bill payments, and manage fraud and risk. We combine our global footprint with local presence to drive the real-time digital transformation of payments and commerce.
About Quadrant Knowledge Solutions:
Quadrant Knowledge Solutions is a global advisory and consulting firm focused on helping clients in achieving business transformation goals with Strategic Business and Growth advisory services. At Quadrant Knowledge Solutions, our vision is to become an integral part of our client's business as a strategic knowledge partner. Our research and consulting deliverables are designed to provide comprehensive information and strategic insights for helping clients formulate growth strategies to survive and thrive in ever-changing business environments. For more available research, please visit https://quadrant-solutions.com/market-research/
Media contacts:
ACI Worldwide Press Contact:
Riya Mehar
Quadrant Knowledge Solutions
rmehar@quadrant-solutions.com
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