DBS Drives Digital Transformation in Asia-Pacific with ACI Worldwide
March 13 2018 - 9:00PM
Business Wire
ACI’s UP Real-Time Payments solution
underpins fast, open payments for Southeast Asia’s largest
bank
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.”
About ACI WorldwideACI Worldwide, the Universal
Payments (UP) company, powers electronic
payments for more than 5,100 organizations around the world.
More than 1,000 of the largest financial institutions and
intermediaries, as well as thousands of global merchants, rely on
ACI to execute $14 trillion each day in payments and securities. In
addition, myriad organizations utilize our electronic bill
presentment and payment services. Through our comprehensive
suite of software solutions delivered on customers’ premises or
through ACI’s private cloud, we provide
real-time, immediate payments capabilities and enable the
industry’s most complete omni-channel
payments experience. To learn more about ACI, please visit
www.aciworldwide.com. You can also find us on
Twitter @ACI_Worldwide.
© Copyright ACI Worldwide, Inc. 2018.ACI, ACI Worldwide, ACI
Payment Systems, the ACI logo, ACI Universal Payments, UP, the UP
logo, ReD, PAY.ON and all ACI product 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.
Product roadmaps are for informational purposes only and may not
be incorporated into a contract or agreement. The development
release and timing of future product releases remains at ACI’s sole
discretion. ACI is providing the following information in
accordance with ACI's standard product communication policies. Any
resulting features, functionality, and enhancements or timing of
release of such features, functionality, and enhancements are at
the sole discretion of ACI and may be modified without notice. All
product roadmap or other similar information does not represent a
commitment to deliver any material, code, or functionality, and
should not be relied upon in making a purchasing decision.
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ACI WorldwideDan Ring, +1
781-370-3600dan.ring@aciworldwide.comorChristopher Taine, +49 (0)
89 45230 557christopher.taine@aciworldwide.com
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