National Savings Bank picks ACI Worldwide risk technology
Sri Lanka-based National Savings Bank (NSB) has selected ACI Worldwide and its Payments Risk Management solution.
According to the vendor, the bank wanted a “comprehensive” intelligence and financial crime detection solution.
NSB is one of Sri Lanka’s largest public sector banks. Founded in 1971, the bank has 255 branches around the country. The bank holds assets of around $6.4 billion, and an operating income of $175 million.
The bank is an existing ACI Worldwide customer, utilising the vendor’s retail payments systems.
“As digital payments increasingly become the country’s preferred transaction method, security and fraud mitigation are growing challenges for financial institutions,” says Damitha Rathnayake, acting CEO at the bank.
According to the Central Bank of Sri Lanka more than 25 million debit and credit cards are in use in the country. The industry is experiencing a 30% growth year-on-year.
“ACI’s reliability and scalability in payment solutions are unparalleled,” adds Rathnayake.
“We are confident that the added real-time fraud detection alongside our existing ACI retail payments infrastructure will strengthen our fraud monitoring capabilities.”