ACI Worldwide Customers Recognized by Celent as Winners of 2021 Model Bank and Model Risk Manager Awards
March 17 2021 - 7:55AM
Business Wire
- DBS Bank recognized for Corporate Digital Banking
- Payments Network Malaysia Sdn Bhd (PayNet) recognized for
Payments Infrastructure
- Swedbank recognized for Legacy and Ecosystem
Transformation
ACI Worldwide (NASDAQ: ACIW), a leading global provider of
real-time digital payment software and solutions, today announced
that three of its customers—DBS Bank, Payments Network Malaysia Sdn
Bhd (PayNet) and Swedbank—have been recognized by Celent as winners
of its 2021 Model Bank and Model Risk Manager Awards.
Celent’s annual Model Bank and Model Risk Manager Awards
recognize the best practices of technology usage in different areas
critical to success in banking and risk. The program recognizes
financial institutions as ‘model banks’ or ‘model risk managers’
for their outstanding technology initiatives. In order to win, the
initiatives must demonstrate clear business benefits, innovation,
and technology or implementation excellence.
Singapore-based DBS Bank, a leading financial services
group in Asia with a presence in 18 markets, was recognized for
Corporate Digital Banking. According to Celent, “having achieved
significant success with DBS IDEAL, DBS Bank’s award-winning
digital banking platform for business customers, the bank sought to
evolve the portal from a transactional channel towards a
customer-centric engagement platform. DBS envisioned a
next-generation platform incorporating faster, simpler, and smarter
customer journeys. The resulting next-generation IDEAL platform
leverages cutting-edge technologies to provide an AI-powered,
hyperpersonalised, end-to-end digital experience.” DBS leveraged
ACI Digital Business Banking for this initiative.
Payments Network Malaysia Sdn Bhd (PayNet), the country’s
national payments network and central infrastructure provider, was
recognized for Payments Infrastructure. According to Celent, “it is
not often that Celent awards Model Bank recognition to a Financial
Infrastructure. However, the initiative here is one of the most
future proof, inclusive, and flexible real time payment systems
Celent has ever seen. It has many elements that any real time
payment system could learn from.” PayNet leveraged ACI Low Value
Real-Time Payments solution for this initiative.
Sweden-based Swedbank, a leading Nordic-Baltic banking
group, was recognized as a Model Risk Manager Award winner for
Legacy and Ecosystem Transformation. According to Celent, “Swedbank
took impending strong customer authentication (SCA) regulation in
its markets as an opportunity to enhance its anti-fraud posture for
its card business by modernizing its existing fraud platform. The
enhanced fraud platform uses insights from machine learning and
shared data to exempt low-risk transactions from the SCA
requirements, thereby improving the customer experience while
improving fraud rates.” Swedbank leveraged ACI Fraud Management
including ACI Model Generator for its initiative, “Building Fraud
Management & CX Success Against the SCA Deadlines,” to meet
regulatory requirements for Card Not Present transactions,
including real-time capabilities.
“DBS, Swedbank and PayNet transcend technology and innovation
best practices, and this recognition by Celent is testament to
their ongoing work,” said Eve Aretakis, chief revenue officer, ACI
Worldwide. “We congratulate these organizations on the great
results they continue to achieve, and we’re proud of the
long-lasting relationships we have with each of them.”
About ACI Worldwide
ACI Worldwide is a global software company that provides
mission-critical real-time payment solutions to corporations.
Customers use our proven, scalable and secure solutions to process
and manage digital payments, enable omni-commerce payments, present
and process bill payments, and manage fraud and risk. We combine
our global footprint with local presence to drive the real-time
digital transformation of payments and commerce.
© Copyright ACI Worldwide, Inc. 2021 ACI, ACI Worldwide, ACI
Payments, Inc., ACI Pay, Speedpay and all ACI product/solution
names are trademarks or registered trademarks of ACI Worldwide,
Inc., or one of its subsidiaries, in the United States, other
countries or both. Other parties’ trademarks referenced are the
property of their respective owners.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210317005067/en/
Media Dan Ring dan.ring@aciworldwide.com 781-370-3600
ACI Worldwide (NASDAQ:ACIW)
Historical Stock Chart
From Aug 2024 to Sep 2024
ACI Worldwide (NASDAQ:ACIW)
Historical Stock Chart
From Sep 2023 to Sep 2024