India’s Largest Bank Modernizes Its Payment Switching System With ACI Worldwide Technology - GADGET-INNOVATIONS

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India’s Largest Bank Modernizes Its Payment Switching System With ACI Worldwide Technology

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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 India’s largest public sector bank, 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. The solution enables SBI’s ATM network to acquire Visa, Mastercard and RuPay cards, as well as manage ATM/POS authorizations. Transaction processing volumes frequently exceed 30 million transactions per day.



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

 

 

 

 

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