The US-based real-time payments company will provide full payment hub capabilities, including payment processing, domestic scheme gateways and SWIFT on a single platform, for low- and high-value payments


ACI Worldwide's Corporate Headquarters. (Credit: Rbrisco/Wikipedia)

The Philippines-based private banking company Security Bank has selected ACI Worldwide’s Enterprise Payments Platform to boost its real-time payment capabilities.

The US-based real-time payments company will provide full payment hub capabilities for low- and high-value payments, to support the bank’s digital transformation journey.

The capabilities will include 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 will help Security Bank provide secure services across consumers, merchants, and corporate payments with emerging and new payment types.

Also, the partnership will enable the bank to address growing customer and regulatory demands and provide advanced payment solutions and global domain expertise.

Security Bank SVP and channels network group head Stephen John Bell said: “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.”

According to ACI Worldwide, the volume of real-time payments is continuously increasing in the Philippines, with banks promoting new domestic use cases and domestic fintechs.

The country’s payment system is on the verge of modernisation, and the integration of its financial structure is essential to ensure significant economic benefits.

The partnership underlines the bank’s payments modernisation efforts and enables the bank to help the nation reap the benefits of real-time payments across the region.

ACI Worldwide has experience in implementing real-time ISO 20022 payments ecosystems and central infrastructures across APAC countries.

The company offers a central infrastructure for Indonesia’s BI-FAST, which involves 135 banks, along with merchants and payment service providers.

It also powers the real-time central infrastructure and the entire bank ecosystem of Malaysia’s Real-time Retail Payments Platform.

In addition, ACI Worldwide also supports Thailand’s National ITMX with real-time ISO 20022 bulk payments alongside many real-time payment schemes across the region.

ACI Worldwide senior vice president, APAC managing director Leslie Choo said: “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 utilising 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.

“We look forward to Security Bank providing personalised digital experiences that can cater to ongoing change, complexity and uncertainty.”