“We face plenty of competition”.
Thomas Warsop, global CEO of switching giant ACI told us this with a straight face.
“Switching. Alongside FIS, ACI has switching sewn up, pretty much worldwide?” was our opening question.
Apparently not.
Chasing their heels are fintechs galore, few of whom know the first thing about switching.
ACI is co-opting fintechs in their tens of thousands.
“Fintechs tend to be our customers” Warsop said.
“They often will serve the smalert fintechs. We tend to focus on the larger ones. We go for the top of the market.
“We grow as payment transactions grow.
“As real time payments grow as a per cent of the total number of payments grow, we do better.
“Our switching powers 27 of the real time payments platforms around the world.”
ACI works with 37 banks in Australia.
Trent Gunthorpe is ACI’s Australian CEO. Gunthorpe is ex ASL.