State Bank of India has seamlessly updated and
expanded its payment switching system using ACI’s Retail Payments solution to
meet its requirement of processing over 30 million daily transactions
ACI Worldwide (NASDAQ:
ACIW), a leading global provider of real-time Digital Payment Software and Solutions, has modernized
payments infrastructure for ATM and point-of-sale (POS) at State Bank of India
(SBI), the country’s largest bank with more than 440 million account holders.
SBI
is
ACI
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.
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.
MUMBAI—September 8, 2020