Malaysia’s Affin Bank partners ACI Worldwide for business payments platform
Global payments software firm ACI Worldwide has been enlisted by Affin Bank in Malaysia to “modernise the bank’s real-time payment capabilities”.
Affin Bank selects ACI Worldwide for payments
The Kuala Lumpur-headquartered commercial bank will make use of the vendor’s B2B payments platform as part of the deal.
The platform claims to converge payment processes across both high and low-value payments, corporate and retail internet banking, ATMs and through digital banking delivery services.
With this, its deployment seeks to action a “75% efficiency boost” for Affin while also increasing the bank’s transaction capacity by “over 20%” as a result of its interoperability with the PayNet, RENTAS and SWIFT financial systems, and ISO 20022 standards.
Encik Risham Akashah Bin Kamaruzaman, group COO of Affin, says the new partnership with ACI will enable the bank to “deliver integrated, value-driven payment solutions that cater to the diverse needs of today’s dynamic business landscape and customer demands”.
“Our partnership with ACI is a significant stride in our digital transformation journey, streamlining our operations and enhancing our customers’ payment experience,” he adds. “Through embracing digital tools and solutions, we aim to enhance efficiency, improve customer experiences, and stay ahead in a rapidly evolving market.”
ACI is currently lending the same platform to Banco de la República in Colombia to power the central bank’s development of a domestic real-time instant payments system, which is expected to launch next year.
