ACI Worldwide and Arab Financial Services To Drive Payments Modernization for Banks and Merchants in the Middle East

ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software, today announced a 10-year strategic partnership with Arab Financial Services (AFS), the Middle East and Africa region’s leading digital payment solutions provider and fintech enabler. This partnership will see them collaboratively drive digital payments modernization for banks, fintechs and merchants across the region.

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Left to Right: Samer Soliman, CEO, Arab Financial Services; Santhosh Rao, Senior Vice President, MEASA, ACI Worldwide (Photo: Business Wire)

Regulated by the Central Bank of Bahrain, AFS is owned by a total of 37 banks and financial institutions and serves over 60 clients in more than 20 countries across the Middle East and Africa region. The company provides numerous groundbreaking, end-to-end digital payment products, services and solutions to banks and merchant groups. AFS’ innovative approach to the provision of financial services is evidenced by a series of market-leading payment services that span card processing services, merchant acquiring, fintech solutions and value-added services.

With this strategic partnership, AFS will utilize ACI Enterprise Payments Platform, a single transaction processing platform for all payment types, backed by cutting-edge security, flexible cloud-ready technology and multi-language, multi-currency, multi-institution capabilities to drive the retail banking modernization for its banking and fintech customers.

The company will also deploy ACI Payments Orchestration Platform, enabling its merchant customers to orchestrate payments using one solution, one platform and one API integration for optimal conversion rates at minimal operation costs. It will allow merchants and payment service providers to provide customers more seamless and secure customer journeys.

“Arab Financial Services is thrilled to embark on a strategic partnership with ACI Worldwide," said Samer Soliman, CEO, Arab Financial Services. "As the payments landscape becomes ever more intricate and prone to disruption, a reliable technology partner offering industry-leading solutions is crucial. Together, AFS and ACI Worldwide are committed to empower our customers with cutting-edge technology that streamlines operations, fosters growth and unlocks new levels of profitability.”