ACI Worldwide partners with DBS

ACI Worldwide partners with DBS
14.03.2018 12:17 pm

ACI Worldwide partners with DBS

Payments , Banking

ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced that it is extending its partnership with DBS to support the bank’s ongoing digital transformation, including offering Singapore’s first FAST Real-Time Payments gateway service to corporate and institutional customers.

DBS is further building upon its longstanding relationship with ACI, through which the bank originally developed IDEAL – its leading digital banking portal for corporates. DBS’s continued digital transformation utilizes ACI’s UP Real-Time Payments solution as the backbone of its enterprise payments framework, allowing merchant, wholesale and SME customers to offer FAST payments services – including over the mobile channel and Singapore’s enhanced peer-to-peer funds transfer service, PayNow.

With innovation in the region driven by the real-time and open imperative, faster payments and real-time cross-border payments are transforming the ASEAN fintech landscape. Malaysia, Thailand and Singapore are poised to be the first countries in the region to achieve interoperability between their central payment infrastructures, and DBS is well positioned – through its digital transformation strategy – to benefit from the opportunities that will arise as this ASEAN Payment Network takes shape.

ACI’s UP Real-Time Payments solution gives banks complete control, choice and flexibility in routing their real-time payments, providing connectivity to immediate payments schemes and real-time gross settlement (RTGS) globally.

“Successful digital payment transformation requires not only embracing the real-time paradigm, but also adopting an ‘open’ mindset in which Open APIs play an important part, as well as working with ecosystem partners to make banking services readily available and joyful,” said Ng Peng Khim, Head of Institutional Banking Group Technology, DBS Bank. “ACI’s solutions are instrumental in our current and future real-time payment initiatives.”

“We are proud of our longstanding relationship with DBS, and look forward to continuing this collaboration as the bank continues to innovate and grow,” said Leslie Choo, vice president & GM, Asia, ACI Worldwide. “Singapore is rapidly becoming one of the world’s most vibrant fintech hubs, and it is exciting to be able to support DBS on its digital transformation journey, as it engages with fintechs and established financial institutions alike within this new payments ecosystem.”

Related News

Payment Security Compliance drops for the first time in six years, states Verizon’s 2018 Payment Security Report

After documenting improvements in Payment Card Industry Data Security Standard (PCI DSS) compliance over the past six years (2010 – 2016), ... Read more »

Worldline delivers Tiffany & Co’s first ever luxury vending machine in the UK

Worldline [Euronext: WLN], the European market leader in payment and transaction services, has successfully delivered the first UK... Read more »

7th Swiss Payment Forum: Digitization of the Financial Sector

Today, digitization is omnipresent in most areas of our lives. Also the financial sector has to face the changes and developments which are brought along with the new era of an... Read more »

Prasos now processing via Paydentity™

Australian Securities and Frankfurt Stock Exchange cross listed iSignthis Ltd (ASX: ISX |FRA: TA8), the leading payment and identity technology company, is pleased to announce... Read more »

EMVCo Adds Fourteen New Associates from Across Industries to Accelerate Payment Technology Innovation

Global technical body EMVCo has welcomed fourteen new organisations to its Associates Programme to increase cross-industry collaboration in the development of EMV®... Read more »

Omnia Casino integrates Trustly ‘Pay N Play’ for regulating Swedish market

Omnia, the world’s first AI-built and compliance-led online casino, has integrated leading payments provider Trustly’s new ‘Pay N Play’ technology to instantly recognise... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App