State Bank of India (SBI) has selected digital payments solutions provider ACI Worldwide to modernise its ATM and point-of-sale (POS) payments infrastructure.
The government-owned bank is a long-standing partner of ACI.
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SBI uses ACI’s Retail Payments solution to authorise transactions across its ATM, POS and e-commerce network.
The solution enables SBI ATMs to acquire Visa, Mastercard and RuPay cards and also authorise financial transactions at POS and ATMs.
Using ACI’s solution, SBI has updated its payment switching system to be able to process more than 30 million transactions per day.
Additionally, ACI’s fraud management solution for debit cards, mobile banking, internet banking, pre-paid and UPI payments, allows the bank to mitigate fraud.
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By GlobalDataACI South Asia VP and country leader Kaushik Roy said: “The successful migration of SBI to the latest iteration of our retail banking solution is a testament to our team, which has a strong track record of managing many large and complex migration projects.”
SBI operates 22,000 branches and more than 58,000 ATMs across the country.
The bank has more than 440 million account holders. It has a presence in 32 countries globally.
SBI deputy managing director and CIO Dhananjay Tambe said: “Considering the size and complexity of this upgrade, the migration process has been seamless and has not only minimised risk in the production environment-with minimum downtime required for switchover-but also minimised impact for our customers.”
