FSS partners with ACLEDA Bank to digitise its merchant operations

The partnership between FSS and ACLEDA Bank is a multi-product deal to consolidate and digitally transform its nation-wide merchant operations and automate its terminal monitoring, reconciliation, and settlement processes.

With a base of 150,000+ merchants, and for an increasing number of POS terminals, ACLEDA needed a reconciliation and transaction settlement solution that could match up to the scale and growth of the bank, as mentioned in the official press release.

FSS’ multi-product solution comprising of FSS Merchant, FSS ADM (Active Device Monitoring), and FSS Smart Recon will help ACLEDA consolidate all merchant related data across multiple systems under one application, provide real-time insights into their multi-estate POS network, and reduce downtime. FSS Solution will help ACLEDA in bringing merchant operations under one interface.

Choosing the suitable partner

According to the official press release, FSS’ years of experience providing similar technology solutions, product credentials, demos, and a strong relationship with Conscala strengthen the decision of ACLEDA to choose FSS for transforming their merchant systems and reconciliation operations.

Conscala is one of a technology consulting and services company in Singapore, specialising in banking and payments domain and have a dedicated focus towards the emerging markets of the Asia Pacific. Conscala had an existing partnership with ACLEDA, and further entered a partnership with FSS to provide local account management support and ensure timely completion of milestones while working closely with FSS’ delivery team.

FSS Smart Recon is benchmarked to process 2 million records per second. Post deployment, FSS’ solution will help the bank automate reconciliation and settlement processes and reduce manual interventions.