CIMB Bank Picks ACI Tech To Handle Payments Across Asia
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CIMB Bank has picked ACI Worldwide to help build a single system for payments. The bank said this system will support real-time, local, and international transfers. It will bring all kinds of payment work into one platform. This will help the bank work faster and with less trouble.
The new system follows the ISO 20022 global standard . ACI said this standard allows more useful data to travel with each payment and helps banks check for errors and understand the payment better. CIMB believes this will lead to better safety and better service for customers.
The New Payment System Is Available In Malaysia, With Plans To Expand To Other Countries
Ros Aziah, the Group Chief Technology Officer at CIMB, said this is part of the firm’s long-term plan. The bank hopes the change will help it keep up with digital progress and support its goal of offering smooth and smart payment experiences. The new system will be used first in Malaysia and then in other countries.
CIMB and ACI were praised by The Asian Banker in a recent award event. Both firms received a top award for their payment technology services in the Asia Pacific region. ACI said this shows how both sides are working to support new ideas. The award also shows that the system is strong and ready for the future.
Leslie Choo, a leader at ACI Worldwide, said the partnership is a good example for other banks. He shared that CIMB now runs all its payments through one platform, including small, large, and cross-border payments. This helps reduce delays and lower risk.
CIMB Aims To Save Time And Boost Safety With One Payment System
Malaysia’s national payment system uses ACI’s technology, showing that it is trustworthy and reliable. Due to this, CIMB felt confident in choosing the same company to support its payment system. The firm now uses ACI’s system as a base for its new payment plan. It begins in Malaysia but will grow across the region over time.
By using one system for all payment types, CIMB hopes to improve its daily work. This setup helps the bank save time and avoid problems. The bank also wants to respond more quickly to customer needs. The goal is to run payments smoothly and safely.
The ISO 20022 standard gives banks more useful data with each payment. ACI said this helps with safety checks and better service. CIMB said the system can also help staff do their jobs more easily. Customers may notice faster transfers and fewer delays.
ACI runs many real-time payment systems around the world. CIMB said this helped them feel ready to work with ACI. The company supports banks across six continents and works with the largest banks in the world. Each day, the system handles billions of dollars.
The new plan also helps CIMB meet new rules from financial leaders. ACI said banks using this kind of system can move faster when rules change. CIMB feels this will help them stay strong and ready for the future. The system also supports clear reports and better planning.
CIMB and ACI plan to keep working together. This move shows how banks in Asia are moving toward smarter technology. CIMB wants to grow across the region with stronger tools and better service. The new platform brings speed, safety, and more support for customers.
