Following this announcement, ACI Worldwide, a global provider of real-time payments software, is set to combine its suite of services and expertise with the Arab Financial Services (AFS)’ product portfolio. The collaboration aims to drive digital payments modernisation and optimisation for banks, financial institutions, and merchants across the region of the Middle East and Africa.
The Arab Financial Services represents an institution regulated by the Central Bank of Bahrain, and it provides numerous secure, efficient, and end-to-end digital transaction products and solutions to banks and merchant groups. Its approach to the provision of financial services was improved by the launch of a series of payment tools that span card processing products, trader acquiring, fintech tools, and value-added solutions.
As the overall payments landscape becomes more prone to disruption, reliable and secure technologies are needed in order to provide customers with modernised solutions for development acceleration and profitability improvement. ACI Worldwide and AFS will focus on meeting the needs, preferences, and demands of clients in an ever-evolving market, while also remaining compliant with the regulatory requirements and laws of the industry.
Throughout this strategic deal, AFS is set to utilise ACI Worldwide’s Enterprise Payments Platform. This solution was designed as a single issuing platform for all transaction types, while also being backed by optimised security, flexible cloud-ready technology, as well as multi-language, multi-currency, and multi-institution capabilities. This product will be leveraged in order to drive retail modernisation for banking and fintech customers across the area.
At the same time, AFS will deploy ACI Worldwide’s Payments orchestration Platform in order to give traders the possibility to orchestrate transactions by leveraging one solution, one platform, and one API integration. This is expected to drive improved conversion rates at minimal operation costs. In addition, it will enable merchants, businesses, and PSPs to provide clients with a more secure and efficient payment experience.
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