GlobeNewswire
2011-09-19
Selects State of the Art Replacement for In-House Payment
Processing System and MERVA
NEW YORK, Sept. 19, 2011 (GLOBE NEWSWIRE) -- ACI Worldwide
(Nasdaq:ACIW), a leading international provider of payment systems,
today announced that National Bank of Kuwait S.A.K (NBK) is investing
substantially in modernizing its payments infrastructure, and has
selected ACI's industry leading ACI Money Transfer System(TM) solution,
as a replacement for its current payment and messaging infrastructure
to handle all corporate and consumer payments.
NBK continues to enjoy the widest banking presence in Kuwait with 71
branches, which together with its growing international presence totals
177 branches worldwide. NBK's international presence spans many of the
world's leading financial centers including London, Paris, Geneva, New
York and Singapore, as well as China (Shanghai) and Vietnam (Ho Chi
Minh City). Meanwhile, regional coverage extends to Lebanon, Jordan,
Iraq, Egypt, Bahrain, Qatar, Saudi Arabia, the UAE, and Turkey.
NBK has close to a million customers across 16 countries, and is
committed to ensuring it has the flexibility to launch new products and
services to take advantage of the business opportunities offered by a
rapidly changing marketplace. The project replaces both the existing
in-house payment system and the MERVA installation with ACI Money
Transfer System and is designed to meet all current and anticipated
future requirements of the bank. The new system will run on IBM System
p hardware, running AIX.
Dr. Fadi Chehayeb, NBK Group CIO said: "It is essential that the
technology that underpins our critical payment systems is fully
reliable and capable of delivering the best possible solution to our
customers, meeting the business requirements of today and in the
future. We have worked with ACI Worldwide for many years and use a wide
range of different ACI solutions."
Paul Thomalla, SVP and Managing Director, ACI Worldwide (EMEA) said, "I
am delighted that NBK has made the commitment to revitalizing its
payments and messaging infrastructure with ACI Money Transfer System.
The bank is very highly regarded by its peers and customers in the
Middle East, and I am sure that the reliability and functionality of
the new payments system will help maintain that reputation. With this
project, NBK is breaking away from the challenges imposed by its older,
in-house solution, and ensuring that it can face the future with
confidence."
Phil Heasley, CEO at ACI Worldwide said, "The Middle East is a key
region for ACI Worldwide, with financial institutions consistently
showing their commitment to staying one step ahead of their customers'
needs through the use of technology."
For more information on ACI Money Transfer System please go to
www.aciworldwide.com/moneytransfersystem.
Twittercue: National Bank of Kuwait commits to ACI Money Transfer
System from ACI Worldwide http://bit.ly/nts4cG
About ACI Worldwide
ACI Worldwide powers electronic payments for more than 800 financial
institutions, retailers and processors around the world, with its broad
and integrated suite of electronic payment software. More than 90
billion times each year, ACI's solutions process consumer payments. On
an average day, ACI software manages more than US$12 trillion in
wholesale payments. And for more than 160 organizations worldwide, ACI
software helps to protect their customers from financial crime. To
learn more about ACI and understand why we are trusted globally, please
visit www.aciworldwide.com. You can also find us on
www.paymentsinsights.com or on Twitter @ACI_Worldwide.
About the National Bank of Kuwait
Since its incorporation in 1952 as the first indigenous bank and the
first shareholding company in the entire Gulf region, NBK has been
known as 'The Bank You Know And Trust'. Thanks to the recognized
excellence of its very stable management along with its unequivocal
strategy, consistent profitability, high asset quality and strong
capitalization, NBK, throughout the years, succeeded in building an
advanced banking institution that offers a full spectrum of innovative
and unrivalled financial and investment services and solutions to
individuals, corporate and institutional clients. NBK enjoys a dominant
market share with a large and ever expanding local and regional
clientele. NBK also boasts the largest overseas branch network spanning
many of the world financial and business centers.
NBK has consistently been awarded the highest credit rating of all
banks in the region by Moody's, Standard & Poor's, and Fitch Ratings.
The Bank's ratings are supported by its high capitalization, prudent
lending policies, and its disciplined approach to risk management, in
addition to its recognized and very stable management team.
CONTACT: Catherine Eyres
ACI Worldwide
+44 (0) 1923 812741
press@aciworldwide.com