ACI Worldwide Chosen to Power Expansion of State Bank of India's ATM Network
and Fraud Reduction Program
Expansion of BASE24 and Addition of Fraud Monitoring and Payment Testing Key
Elements of Bank's Infrastructure Upgrade
NAPLES, Fla., Oct. 23, 2012 (GLOBE NEWSWIRE) -- ACI Worldwide (Nasdaq:ACIW), a
leading international provider of payment systems, announced today that the
State Bank of India (SBI), India's largest commercial bank, has chosen to
expand its use of ACI's BASE24™ solution to support an aggressive expansion of
its automated teller network. SBI is planning to increase the size of its ATM
network to 60,000 units by 2017. This enhancement will be integrated into the
bank's existing HP NonStop servers.
To better deal with fraud incidents, which are increasing both in quantity as
well as complexity, SBI chose to add Proactive Risk Manager™, ACI's
comprehensive enterprise fraud management solution.Proactive Risk Manager
assists financial institutions, merchants and processors with recognizing and
combating cross-channel fraud and money laundering.
"Leading institutions in evolving banking and financial markets such as India
realize that in order to remain competitive and meet demand, they need the
right solution to power their infrastructure," said Jeremy Wilmot, President,
Asia-Pacific, ACI Worldwide."The State Bank of India recognizes the need for
solutions which can easily scale and evolve in the rapidly changing Indian
payments market.We are pleased to expand our partnership and look forward to
continued, mutual success."
The State Bank of India is the largest banking and financial services company
in India when ranked by revenue, assets and market capitalization.The
majority owner of the bank is the Government of India.It operates more than
18,000 branches in India and has operations in 32 countries around the
globe.The State Bank of India has assets totaling US$370 billion and was
ranked No. 292 in the 2011 Fortune Global 500 list.
About ACI Worldwide
ACI Worldwide powers electronic payments and banking for more than 1,650
financial institutions, retailers and processors around the world. ACI
software enables $12 trillion in payments each day, processing transactions
for 14 of the leading global retailers, and 24 of the world's 25 largest
banks. Through our integrated suite of software products and hosted services,
we deliver a broad range of solutions for payments processing, card and
merchant management, online banking, mobile, branch and voice banking, fraud
detection, and trade finance. To learn more about ACI and the reasons why our
solutions are trusted globally, please visit www.aciworldwide.com. You can
also find us on www.paymentsinsights.comor on Twitter@ACI_Worldwide.
© Copyright ACI Worldwide, Inc. 2012.
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