ACI Worldwide Helps New Saudi Bank with Aggressive Launch Plans
ACI Worldwide has announced that Bank Al Bilad has licensed several products from the ACI Commerce Framework including BASE24, ACI Smart Chip Manager, ACI Card Management System and ACI Proactive Risk Manager. The newly established Saudi Arabian commercial bank selected ACI software to provide an end-to-end payment processing infrastructure that will deliver an enterprise-wide solution. Bank Al Bilad opened for business in May 2005, and ACI’s solutions have supported the bank’s aggressive launch plan for 32 branches across Saudi Arabia during the year. The bank was created by a consortium of eight of the leading financial institutions in the region with a combined capital of three billion Saudi Riyals (approximately $0.8bn). Based in Riyadh, it will focus on delivering Islamic banking services to its customers. “We selected ACI due to its strong reputation and proven technology solutions, which will enable Bank Al Bilad to gain a firm foothold in the Saudi Arabian market,” said Azzam Abaalkhail, CEO of Bank Al Bilad.