Mumbai, NFAPost: ACI Worldwide Technology, a financial technology solution provide, has strengthened its relationship with SBI by helping the Bank ATM network to acquire Visa, Mastercard and RuPay cards, as well as manage ATM/POS authorizations. Also, helps in transaction processing volumes frequently exceed 30 million transactions per day.
SBI with a network of more than 22,000 branches spread across the country, as well as a presence in 32 countries around the world. Operating more than 58,000 ATMs, the bank is a long-time ACI customer, utilizing its market-leading Retail Payments solution to acquire, authenticate, route, switch and authorize financial transactions across its ATM, POS and eCommerce channels.
ACI already collaborated closely with SBI to ensure the solution implementation not only met the bank’s complex switching needs but also could be executed with minimal downtime and business impact. Increased resilience and scalability, delivered through code consolidation and technology upgrades, will enable the processing of higher volumes across a growing number of channels in the future, ultimately benefitting the customers of the bank.
In addition to transaction processing, SBI protects payments and mitigates fraud through its use of ACI’s fraud management solution for debit cards, mobile banking, internet banking, pre-paid and UPI payments.
State Bank of India Deputy Managing Director & 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,” said State Bank of India Deputy Managing Director & CIO Dhananjay Tambe.
ACI’s enterprise-class Retail Payments solution is built on open service-oriented architecture for robust payments orchestration across multiple channels. The solution delivers 24x7x365 secure payment capabilities through its ‘active-active’ configuration and is currently used by 19 of the world’s top 20 banks.