ACI Worldwide Customers Recognized by Celent as Winners of 2021 Model Bank and Model Risk Manager Awards
- DBS Bank recognized for Corporate Digital Banking
- Payments Network Malaysia Sdn Bhd (PayNet) recognized for Payments Infrastructure
- Swedbank recognized for Legacy and Ecosystem Transformation
MIAMI–(BUSINESS WIRE)–#ACI—ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software and solutions, today announced that three of its customers—DBS Bank, Payments Network Malaysia Sdn Bhd (PayNet) and Swedbank—have been recognized by Celent as winners of its 2021 Model Bank and Model Risk Manager Awards.
Celent’s annual Model Bank and Model Risk Manager Awards recognize the best practices of technology usage in different areas critical to success in banking and risk. The program recognizes financial institutions as ‘model banks’ or ‘model risk managers’ for their outstanding technology initiatives. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence.
Singapore-based DBS Bank, a leading financial services group in Asia with a presence in 18 markets, was recognized for Corporate Digital Banking. According to Celent, “having achieved significant success with DBS IDEAL, DBS Bank’s award-winning digital banking platform for business customers, the bank sought to evolve the portal from a transactional channel towards a customer-centric engagement platform. DBS envisioned a next-generation platform incorporating faster, simpler, and smarter customer journeys. The resulting next-generation IDEAL platform leverages cutting-edge technologies to provide an AI-powered, hyperpersonalised, end-to-end digital experience.” DBS leveraged ACI Digital Business Banking for this initiative.
Payments Network Malaysia Sdn Bhd (PayNet), the country’s national payments network and central infrastructure provider, was recognized for Payments Infrastructure. According to Celent, “it is not often that Celent awards Model Bank recognition to a Financial Infrastructure. However, the initiative here is one of the most future proof, inclusive, and flexible real time payment systems Celent has ever seen. It has many elements that any real time payment system could learn from.” PayNet leveraged ACI Low Value Real-Time Payments solution for this initiative.
Sweden-based Swedbank, a leading Nordic-Baltic banking group, was recognized as a Model Risk Manager Award winner for Legacy and Ecosystem Transformation. According to Celent, “Swedbank took impending strong customer authentication (SCA) regulation in its markets as an opportunity to enhance its anti-fraud posture for its card business by modernizing its existing fraud platform. The enhanced fraud platform uses insights from machine learning and shared data to exempt low-risk transactions from the SCA requirements, thereby improving the customer experience while improving fraud rates.” Swedbank leveraged ACI Fraud Management including ACI Model Generator for its initiative, “Building Fraud Management & CX Success Against the SCA Deadlines,” to meet regulatory requirements for Card Not Present transactions, including real-time capabilities.
“DBS, Swedbank and PayNet transcend technology and innovation best practices, and this recognition by Celent is testament to their ongoing work,” said Eve Aretakis, chief revenue officer, ACI Worldwide. “We congratulate these organizations on the great results they continue to achieve, and we’re proud of the long-lasting relationships we have with each of them.”
About ACI Worldwide
ACI Worldwide is a global software company that provides mission-critical real-time payment solutions to corporations. Customers use our proven, scalable and secure solutions to process and manage digital payments, enable omni-commerce payments, present and process bill payments, and manage fraud and risk. We combine our global footprint with local presence to drive the real-time digital transformation of payments and commerce.
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