Copyright © 2015 - 2022 Lifecarenews.in
LIFE CARE IS REGISTERED MAGAZINE IN RNI, NO.GUJGUJ/2015/71283
Security Bank utilizes ACI’s Enterprise Payments Platform to modernize payments infrastructure, bringing “Better Banking” promise to life
SINGAPORE–(BUSINESS WIRE)–ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time payments and digital payment software solutions, and Security Bank Corporation (Security Bank), a leading universal bank in Philippines, today announced that the bank has chosen ACI Worldwide’s Enterprise Payments Platform solution to strengthen its real-time payment capabilities.
The partnership will see ACI Worldwide accelerate Security Bank’s digital transformation journey, helping the bank stay ahead of evolving customer and regulatory demands by providing full payment hub capabilities for low- and high-value payments, including payment processing, domestic scheme gateways and SWIFT on ISO 20022 standards on a single platform.
ACI Worldwide’s cloud-native real-time payment platform and flexible, modern architecture ensure that Security Bank can provide secure services across consumers, merchants and corporate payments with emerging and new payment types. By providing a best-in-class payments solution and global domain expertise, Security Bank will be a market leader in payments innovation in the Philippines and deliver its promise of Better Banking with customer centricity at the forefront.
According to ACI Worldwide’s 2022 Prime-Time for Real-Time report, the volume of real-time payments in the Philippines continues to grow, with banks encouraging new domestic use cases and domestic fintechs emerging in the market.
The Philippines’ payment system is on the verge of modernization, and the integration of its financial structure is essential to ensure significant economic benefits. The partnership between ACI Worldwide and Security Bank is a milestone for the bank’s payments modernization efforts and enables the bank to play a key role in helping the nation reap the benefits of real-time payments domestically and across the region.
“With the Philippine payments system primed for rapid growth, we require a technology platform that is scalable and can be modified as our customers’ needs and demands evolve. The ACI partnership will enable us to provide our customers with a seamless real-time payments experience, aligned with Security Bank’s brand promise of Better Banking,” said Stephen John Bell, SVP and Channels Network Group Head at Security Bank Corporation.
“ACI Worldwide is the APAC leader in real-time payments transformation. Our robust solutions go from powering country-wide real-time payment ecosystems to interconnecting cross-border real-time payments networks and enabling the integration of different types of payments into a single, unified, intelligent, cloud-native, payment hub. By utilizing ACI Worldwide’s technology, Security Bank will be able to bring new products and services to customers faster, add new payment alternatives seamlessly and cost-effectively to its existing core infrastructure, and tap into ACI Worldwide’s payment ecosystem in the APAC region,” said Leslie Choo, Senior Vice President, Managing Director – APAC, ACI Worldwide. “We look forward to Security Bank providing personalized digital experiences that can cater to ongoing change, complexity and uncertainty.”
ACI Worldwide has a successful track record of implementing critical real-time ISO 20022 payments ecosystems and central infrastructures across APAC countries. It provides the central infrastructure for Indonesia’s BI-FAST, one of the world’s largest real-time payment initiatives, which will incorporate 135 banks as well as merchants and payment service providers when fully implemented.
The company also powers the real-time central infrastructure and the entire bank ecosystem of Malaysia’s Real-time Retail Payments Platform. Additionally, ACI Worldwide supports Thailand’s National ITMX with real-time ISO 20022 bulk payments alongside many real-time payment schemes across the region, including Philippines, Singapore and Australia.
Globally, ACI Worldwide covers approximately one-third of the countries that offer real-time payments services, reaching about 1.8 billion people* served by various organizations, including central governments, payment networks, banks, financial institutions and fintech companies.
*Data provided by Global Data
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.
© Copyright ACI Worldwide, Inc. 2023
ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay and all ACI product/solution names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries or both. Other parties’ trademarks referenced are the property of their respective owners.
About Security Bank Corporation
Security Bank Corporation is one of the Philippines’ leading universal banks, established on June 18, 1951 as the first private, Filipino-controlled bank of the post-World War II period, and publicly listed with the Philippine Stock Exchange (PSE:SECB) in 1995.
Security Bank’s major businesses cover retail, corporate, commercial, and business banking. It offers a wide range of services including financing, leasing, foreign exchange, stock brokerage, investment banking, and asset management.
Security Bank differentiates itself from competition as a strong, independent, domestic bank with a global reach. The Bank provides superior customer experience in line with its brand promise of BetterBanking, stemming from an in-depth understanding of customers’ needs and providing solutions in a professional, problem-free, personalized and prompt manner. With the Bank’s strategic partnership with Mitsubishi UFJ Financial Group (MUFG), the largest financial group in Japan, it is also able to provide customers access to an extensive global network.
The Bank has been recognized by international and local organizations for its continuous product innovation, market leadership, and best-in-class management practices.
More information is available on www.securitybank.com.