Philippines’ Security Bank taps ACI Worldwide to modernise payments
Payments software firm ACI Worldwide has partnered with the Philippines’ Security Bank Corporation to strengthen its real-time payments capabilities.
Security Bank will deploy ACI’s enterprise payments platform to modernise its payments infrastructure and provide personalised banking, as part of its digitalisation strategy.
The “flexible” cloud-native real-time payment architecture means Security Bank can provide existing and incoming payment types for individuals, merchants and corporates, including payment processing, domestic scheme gateways and Swift on ISO 20022 standards.
“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,” Stephen John Bell, senior vice president and channels network group head at Security Bank, explains.
According to ACI, the archipelago nation’s volume of real-time payments continues to grow, thanks to encouragement from the wider financial services ecosystem, with the integration of its financial services infrastructure “essential” for economic growth.
Leslie Choo, senior vice president, managing director, APAC, ACI Worldwide, says: “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.”
Established in 1951, Security Bank offers retail, corporate, commercial and business banking, with a range of services including financing, leasing, foreign exchange, stock brokerage, investment banking, and asset management.