Company Directory - ACI Worldwide
Company Details - ACI Worldwide
ACI Worldwide
WebsiteACI Worldwide is a global software company that provides electronic payment solutions for banks and retailers, facilitating secure and seamless transactions across various platforms.
CCI Score
CCI Score: ACI Worldwide
-13.05
Latest Event
Release of Modern Slavery and Human Trafficking Statement
ACI Worldwide published its Modern Slavery and Human Trafficking Statement, affirming its commitment to eradicating forced labor and ensuring ethical standards across its business and supply chains. The document outlines policies on anti-slavery, vendor compliance, and robust due diligence processes.
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ACI Worldwide is currently rated as an Enabler.
Latest Events
- MAY072024
ACI Worldwide published its Modern Slavery and Human Trafficking Statement, affirming its commitment to eradicating forced labor and ensuring ethical standards across its business and supply chains. The document outlines policies on anti-slavery, vendor compliance, and robust due diligence processes.
+80
Labor Relations and Human Rights Practices
June 18
The company's clear and proactive commitment to eliminating modern slavery and ensuring ethical labor practices demonstrates a strong stance in protecting human rights and supporting fair labor practices. This is reflected in their strong anti-slavery policy and mandatory compliance training for employees.
+75
Supply Chain Ethics
June 18
By updating vendor contracts and enforcing compliance with anti-slavery policies, ACI Worldwide demonstrates responsible supply chain ethics. This proactive measure minimizes risks of forced labor within its supply chain, reinforcing the company's commitment to ethical sourcing and business practices.
- MAY072024
ACI Worldwide released its Modern Slavery and Human Trafficking Statement outlining its commitment to eradicating forced labour and modern slavery in its business and supply chains. The policy, effective from January 2023 to December 2023 and approved by the board on 7 May 2024, details robust vendor management, compliance training, and contractual obligations to ensure ethical practices.
+80
Labor Relations and Human Rights Practices
June 18
ACI Worldwide’s statement reflects a strong commitment to worker rights by explicitly addressing and taking steps to eliminate forced labour and modern slavery from its operations and supply chains. This commitment to ethical labor practices is a positive anti-authoritarian measure supporting worker rights.
+60
Supply Chain Ethics
June 18
The statement outlines updated vendor contract templates and robust global vendor management measures aimed at ensuring suppliers adhere to ethical standards, thereby reducing risks associated with modern slavery in the supply chain. This proactive approach supports ethical sourcing and supply chain integrity.
- OCT172023
State regulators, along with 43 state financial agencies, reached a settlement with ACI Payments, Inc.—a subsidiary of ACI Worldwide—following erroneous electronic transactions from customer accounts. The enforcement action resulted in $10 million in fines and mandated stringent risk management reforms.
-40
Business Practices and Ethical Responsibility
June 18
ACI Payments, a subsidiary of ACI Worldwide, engaged in poor business practices by erroneously initiating electronic transactions using live customer data during a test of its Speedpay platform. This error led to unauthorized withdrawals that exposed consumers to overdraft and insufficient funds fees. The subsequent $10 million fine and mandated oversight highlight significant ethical and risk management failures, warranting a negative rating in Business Practices and Ethical Responsibility.
State Regulators Settle with ACI Payments, Inc. for Unauthorized Transactions
- JUN272023
On June 27, 2023, the Consumer Financial Protection Bureau issued an enforcement order against ACI Worldwide Corp. and ACI Payments Inc. for improperly accessing and using sensitive consumer financial data during internal testing, which resulted in nearly $2.3 billion in unauthorized mortgage payment orders and a $25 million civil penalty.
-80
Business Practices and Ethical Responsibility
June 18
ACI Worldwide's actions by improperly using consumer financial information in internal tests without appropriate security measures led to significant unauthorized debits and breaches of consumer protection laws, reflecting severe deficiencies in business practices and ethical responsibility.
- JUN272023
The CFPB ordered ACI Worldwide to pay a $25 million fine due to improper data handling in its Speedpay system, which led to approximately $2.3 billion in erroneous transactions affecting nearly 500,000 homeowners. The breach occurred following contractors' tests that failed to use dummy consumer data, contrary to company policy.
-70
Business Practices and Ethical Responsibility
June 18
ACI Worldwide's improper data handling and failure to use secure protocols resulted in erroneous transactions with significant financial harm to consumers. This behavior reflects negligent business practices and a disregard for ethical responsibility, warranting a strongly negative rating in this category.
ACI Worldwide fined $25M for lax data handling, unauthorized transactions
-60
Technology and Services Impact
June 18
The technological failure demonstrated in ACI Worldwide's Speedpay system—specifically, the testing without dummy data against established protocols—highlights a risky and poorly managed use of technology. This mismanagement not only compromises data integrity but also exacerbates harmful financial errors impacting consumers.
ACI Worldwide fined $25M for lax data handling, unauthorized transactions
- JUN272023
The Consumer Financial Protection Bureau issued an enforcement order against ACI Worldwide and its subsidiary, ACI Payments, penalizing the company with a $25 million civil money penalty for improperly processing approximately $2.3 billion in unauthorized mortgage payment transactions. The action was taken after ACI conducted tests on its electronic payments platform using actual consumer data, leading to significant financial harm for nearly 500,000 homeowners.
-70
Business Practices and Ethical Responsibility
June 18
ACI Worldwide's use of real consumer data during testing, which triggered unauthorized mortgage payment transactions, represents a severe breach of ethical business practices and misuse of sensitive information. This action harmed hundreds of thousands of borrowers and violated federal consumer protection laws, justifying a strongly negative score under Business Practices and Ethical Responsibility.
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Industries
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- Financial Transactions Processing, Reserve, and Clearinghouse Activities
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