Singapore-based DBS Bank has selected ACI Worldwide to drive its ongoing digital transformation in Asia-Pacific.
The bank will utilise ACI’s UP Real-Time Payments solution as the backbone of its enterprise payments framework.
The solution will connect the bank’s corporate and institutional customers to immediate payments schemes and real-time gross settlement (RTGS) globally.
The platform will also give the bank greater control, choice and flexibility in routing its real-time payments, the technology vendor claims.
DBS Bank head of institutional banking group technology Ng Peng Khim said: “Successful digital payment transformation requires not only embracing the real-time paradigm, but also adopting an ‘open’ mindset in which Open APIs play an important part, as well as working with ecosystem partners to make banking services readily available and joyful.
“ACI’s solutions are instrumental in our current and future real-time payment initiatives.”
ACI Worldwide vice president & GM for Asia Leslie Choo said: “Singapore is rapidly becoming one of the world’s most vibrant fintech hubs, and it is exciting to be able to support DBS on its digital transformation journey, as it engages with fintechs and established financial institutions alike within this new payments ecosystem.”
The latest agreement extends DBS relationship with ACI, through which it developed its digital banking portal for corporate, known as IDEAL.