CIMB Bank Teams Up with ACI Worldwide to Revolutionize Real-Time and Cross-Border Payment Solutions
CIMB Bank is making significant strides in the financial technology sector through its collaboration with ACI Worldwide, a leader in global payments technology. This partnership aims to consolidate all account-to-account payment types into a single, cutting-edge platform, reinforcing CIMB’s commitment to modernizing its payments infrastructure in Malaysia.
Transforming Payments Infrastructure
The initiative is part of CIMB’s comprehensive strategy to enhance its payment systems. The focus is on integrating various payment methods, including:
- Real-time payments
- Automated Clearing House (ACH) transactions
- Real-Time Gross Settlement (RTGS)
- Cross-border payments
This unified system will support ISO 20022, the new global standard for financial messaging, enabling richer transaction data and improved processing efficiency.
Benefits of the New Payment Platform
The new platform offers numerous advantages, such as:
- Enhanced Security: The system is designed to protect sensitive transaction information.
- Regulatory Compliance: It helps ensure adherence to local and international regulations.
- Improved Interoperability: The platform promotes seamless integration between different payment methods.
Forward30 Strategy: Future-Proofing Banking
CIMB’s Group Chief Technology Officer, Ros Aziah, emphasized that this payment transformation represents a bold re-architecture of their core payment infrastructure. It is a crucial element of their Forward30 Strategy, aimed at:
- Accelerating digital convergence
- Delivering seamless and secure payment experiences
- Future-proofing operations for evolving market demands
Ros Aziah stated, “CIMB is positioning itself at the forefront of next-generation banking, ensuring that both consumers and businesses benefit from intelligent payment solutions.”
A Strategic Partnership with ACI Worldwide
Leslie Choo, Senior Vice President and APAC Managing Director at ACI Worldwide, expressed pride in being the strategic partner for CIMB’s extensive payment transformation. He highlighted that this enterprise-wide overhaul unifies CIMB’s payment operations across various transaction types onto a modern ISO 20022 platform.
Choo added, “This partnership is a testament to how forward-thinking banks like CIMB can lead in a digital-first economy, not just in Malaysia but across the ASEAN region.”
For more information on CIMB Bank’s innovative initiatives, visit their official website. To learn more about ACI Worldwide’s solutions, check out their website.
