India’s largest public sector bank has updated its payment switching system using ACI’s Retail Payments solution


ACI modernises SBI’s payment switching system. (Credit: Manjulkumar/Wikipedia.)

India’s largest public sector bank State Bank of India (SBI) has selected ACI Worldwide, a digital payment software provider, to update its payments infrastructure for ATM and point-of-sale (POS).

Currently, the bank serves more than 440 million account holders through its network of more than 22,000 branches across the country, and footprint in 32 other countries around the world.

SBI, which operates more than 58,000 ATMs, has deployed ACI’s Retail Payments solution to acquire, authenticate, route, switch and authorise financial transactions across its ATM, POS and eCommerce channels.

State Bank of India deputy managing director and CIO Dhananjay Tambe said: “Considering the size and complexity of this upgrade, the migration process has been seamless and has not only minimized risk in the production environment-with minimum downtime required for switchover-but also minimized impact for our customers.

“We have a close collaboration with ACI and we look forward to building on this long-standing relationship as we evolve our offering to our customers in response to emerging trends.”

ACI developed its Retail Payments solution based on open service-oriented architecture

ACI’s Retail Payments solution is developed based on open service-oriented architecture to support the large-volume payments orchestration across multiple channels.

The solution is said to deliver a continuous, secure payment capabilities through its ‘active-active’ configuration.

The technology enables SBI’s ATM network to acquire Visa, Mastercard and RuPay cards, along with managing ATM or POS authorisations, where transaction processing volumes are usually more than 30 million transactions per day.

ACI has worked closely with SBI to ensure the implementation of solution meets the bank’s complex switching needs, with reduced downtime and business impact.

The upgrade is said to enable the processing of large volumes of transactions across numerous channels for the bank in the future.

To protect payments and mitigate fraud, SBI has deployed ACI’s fraud management solution for debit cards, mobile banking, internet banking, pre-paid and UPI payments.

ACI Worldwide South Asia vice president and country leader Kaushik Roy: “The successful migration of SBI to the latest iteration of our retail banking solution is a testament to our team, which has a strong track record of managing many large and complex migration projects.

“India’s largest public sector bank has aptly demonstrated that size need not restrict adaptability and agility, which will be critical to meeting more than 440 million customers’ needs in the years ahead while staying ahead of security and regulatory requirements.”