Manila, Philippines – Security Bank Corporation, a universal bank in the Philippines, has signed a contract with real-time payment software company ACI Worldwide in order to improve on the bank’s real-time payment hub.
ACI will be providing their cloud-native ‘Enterprise Payments Platform’ solution for Security Bank to be able to unify its payments platform and facilitate the interactions between payment services and gateways for high and low-value payments such as InstaPay, Philippine Domestic Dollar Transfer Service System or PDDTS, PESONet, Swift, and PhilPaSSplus on ISO2022 standards.
This modernised payment hub allows Security Bank to roll out products and services to customers faster and add new payment types seamlessly and cost-effectively to its core infrastructure.
Leslie Choo, senior vice president and managing director of ACI Worldwide-APAC, says,”Security Bank is at the forefront of driving customer centricity and redefining the digital real-time payments landscape in the country, and ACI is proud to support the Bank with cutting-edge payment hub technologies in leading this transformation.”
He added, “Our robust solutions go from powering country-wide real-time payment ecosystems to interconnecting cross-border real-time payment networks and enabling the integration of different types of payments, such as the convergence of high-value and low-value payments into a single, unified, intelligent, cloud-native payment hub. “
Meanwhile, Stephen John Bell, senior vice president and channels network group head at Security Bank, said “Digital real-time payments are becoming ubiquitous, with today’s customers looking for a hyper-connected, frictionless customer experience. ACI’s modern, scalable, and cloud-native architecture will power real-time payments to meet the dynamic demands of our customers in the digital era. This initiative and our investment in innovative payment technology are testament to our unwavering commitment to customer-centricity.”
Lastly, John Cary L. Ong, external vice president and transaction banking, group head at Security Bank, also supports the enhancing transition into real time payment in the Philippines, saying,”A modernised real-time payment solution offers financial resiliency and agility for businesses in the Philippines through enhanced cash flow management and improved business liquidity. For Filipino consumers, they can look forward to a fast and seamless customer experience through secure digital channels. As Security Bank celebrates 72 years of enriching lives and empowering businesses, the partnership with ACI signifies our commitment to deliver a BetterBanking eXperience.”
