AFS – the leading digital payment solutions
provider and fintech enabler in the Middle East and Africa – will
utilize ACI Enterprise Payments Platform and ACI Payments
Orchestration Platform to drive digital payments modernization in
the region
ACI Worldwide (NASDAQ: ACIW), a global leader in
mission-critical, real-time payments software, today announced a
10-year strategic partnership with Arab Financial Services (AFS),
the Middle East and Africa region’s leading digital payment
solutions provider and fintech enabler. This partnership will see
them collaboratively drive digital payments modernization for
banks, fintechs and merchants across the region.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240401365606/en/
Left to Right: Samer Soliman, CEO, Arab
Financial Services; Santhosh Rao, Senior Vice President, MEASA, ACI
Worldwide (Photo: Business Wire)
Regulated by the Central Bank of Bahrain, AFS is owned by a
total of 37 banks and financial institutions and serves over 60
clients in more than 20 countries across the Middle East and Africa
region. The company provides numerous groundbreaking, end-to-end
digital payment products, services and solutions to banks and
merchant groups. AFS’ innovative approach to the provision of
financial services is evidenced by a series of market-leading
payment services that span card processing services, merchant
acquiring, fintech solutions and value-added services.
With this strategic partnership, AFS will utilize ACI Enterprise
Payments Platform, a single transaction processing platform for all
payment types, backed by cutting-edge security, flexible
cloud-ready technology and multi-language, multi-currency,
multi-institution capabilities to drive the retail banking
modernization for its banking and fintech customers.
The company will also deploy ACI Payments Orchestration
Platform, enabling its merchant customers to orchestrate payments
using one solution, one platform and one API integration for
optimal conversion rates at minimal operation costs. It will allow
merchants and payment service providers to provide customers more
seamless and secure customer journeys.
“Arab Financial Services is thrilled to embark on a strategic
partnership with ACI Worldwide," said Samer Soliman, CEO, Arab
Financial Services. "As the payments landscape becomes ever more
intricate and prone to disruption, a reliable technology partner
offering industry-leading solutions is crucial. Together, AFS and
ACI Worldwide are committed to empower our customers with
cutting-edge technology that streamlines operations, fosters growth
and unlocks new levels of profitability.”
“ACI’s partnership with Arab Financial Services is an important
milestone in our strategy to support banks and merchants in the
Middle East in their quest for digital payments modernization,”
commented Santhosh Rao, senior vice president, MEASA, ACI
Worldwide. Our flexible, agile and innovative payment software
solutions will now be available to banks, financial institutions
and merchants across the region. AFS is now in a strong position to
support all customers in the region on their quest for digital
transformation and innovation, while enabling the resiliency and
service quality required by next-generation payment systems.”
About ACI Worldwide
ACI Worldwide is a global leader in mission-critical, real-time
payments software. Our proven, secure and scalable software
solutions enable leading corporations, fintechs and financial
disruptors to process and manage digital payments, power
omni-commerce payments, present and process bill payments, and
manage fraud and risk. We combine our global footprint with a local
presence to drive the real-time digital transformation of payments
and commerce.
© Copyright ACI Worldwide, Inc. 2024
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.
About AFS:
Arab Financial Services (AFS) was formed in 1984 to provide
payment products, services and expertise to banks and merchant
groups and deliver customized payment solutions in an increasingly
divergent, disruptive, and dynamic payment ecosystem.
AFS is owned by 37 banks and financial institutions, and serves
over 60 clients in more than 20 countries across the Middle East
and Africa. Today, AFS is the region’s leading digital payment
solutions provider and fintech enabler. Regulated by the Central
Bank of Bahrain, its dedication to innovation has made AFS a
driving force in the market offering a rich portfolio of payment
solutions including Open Banking Hub, popular digital wallets,
market-leading merchant acquisition services, digital payroll
solutions and more. Providing the highest quality payments
solutions that are trusted by businesses, AFS has offices and data
centers in the Kingdom of Bahrain, Arab Republic of Egypt,
Sultanate of Oman, and the United Arab Emirates.
Visit www.afs.com.bh for more information and join the
conversation on LinkedIn.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240401365606/en/
Media:
Nick Karoglou | Head of Communications and Corporate Affairs |
nick.karoglou@aciworldwide.com
Lyn Kwek | Communications and Corporate Affairs Director,
APAC/Middle East/Africa | lyn.kwek@aciworldwide.com
Media enquiries about AFS and its subsidiary companies can be
directed to:
Name: Azza Mubarak Matar Title: Head of Marketing and
Communications Email: pr@afs.com.bh Telephone: +973 1729 9711 /
3965 2012
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