DBS Bank has engaged ACI Worldwide, the global provider of real-time electronic payment and banking solutions, to support its ongoing digital transformation, including offering Singapore’s first FAST Real-Time Payments gateway service to corporate and institutional customers. The bank said it also further building upon its longstanding relationship with ACI, through which the bank originally developed IDEAL, its leading digital banking portal for corporates. It said its continued digital transformation utilizes ACI’s UP Real-Time Payments solution as the backbone of its enterprise payments framework, allowing merchant, wholesale and SME customers to offer FAST payments services – including over the mobile channel and Singapore’s enhanced peer-to-peer funds transfer service, PayNow. ACI’s UP Real-Time Payments solution gives banks complete control, choice and flexibility in routing their real-time payments, providing connectivity to immediate payments schemes and real-time gross settlement (RTGS) globally.
