Affin Bank and ACI Worldwide Team up to Upgrade Payments By CIOTechOutlook Team

Affin Bank and ACI Worldwide Team up to Upgrade Payments

CIOTechOutlook Team | Wednesday, 10 July 2024, 08:48 IST

AFFIN, a leading investment banking group, declared a partnership with ACI Worldwide, a global leader in mission-critical, real-time payments software to upgrade the Bank's real-time payment capabilities.

On account of this partnership, the new eenterprise payments platform is intended to smooth and improve the effectiveness of payment processes for ventures, offering a unified framework that combines all payment directions from different channels, meets high-worth and low-esteem installments, including Affin Delivery System (ADS), AffinAlways Retail Web Banking and Mobile Internet Banking, AFFINMAX (Corporate Internet Banking platform), and ATMs.

In participation at the agreement marking to address YBhg. Datuk Wan Razly Abdullah was Encik Risham Akashah Bin Kamaruzaman, Group Chief Operating Officer of Affin Bank Berhad, and ACI Worldwide was represented by Mr. Leslie Choo, Senior Vice President, Managing Director of Asia Pacific, ACI Worldwide.

Through process automation and the elimination of manual steps, this agreement also aims to increase efficiency by 75% and reduce errors. AFFIN will deal with more than 20% more exchanges, supporting development and adaptability. It will empower interoperability among PayNet, RENTAS, and Quick utilizing ISO 20022 norms. This modernization solution meets regulatory requirements, increases system resilience, and incorporates future payment services as the industry globally adopts ISO 20022.

Group Chief Operating Officer of Affin Bank Berhad, Encik Risham Akashah Bin Kamaruzaman said, “A robust payment infrastructure is a catalyst for innovation and scalable growth. It enables AFFIN 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”.