An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
ACI Worldwide Partners with Philippines’ Security Bank Corporation to Transform the Bank’s Real-Time Payments Platform
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
ACI Worldwide (NASDAQ: ACIW) and Security Bank have announced a partnership to implement ACI's Enterprise Payments Platform, enhancing the bank's real-time payment capabilities in the Philippines. This alliance is aimed at modernizing Security Bank’s payment infrastructure, facilitating compliance with evolving customer and regulatory demands. The integration, which leverages cloud-native technology, will allow Security Bank to process various types of payments more efficiently. The partnership is expected to bolster the bank's position as a leader in payment innovation, contributing to the Philippines' payment system modernization.
Positive
Partnership with Security Bank enhances 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.
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.
