DBS Partners with ACI Worldwide on Asia Online Banking Platform
Payment and banking systems provider ACI Worldwide is partnering with DBS to deliver an online banking platform to corporates in Asia.
DBS will use ACI Universal Online Banker and ACI Global Trade Manager solutions to power its IDEAL 3.0 regional internet and mobile banking platform, a state-of-the-art platform which provides corporate customers with a faster and simpler means of managing their cash and trade transactions, anywhere and anytime, from a single platform.
DBS IDEAL 3.0 is globally accessible and offers a suite of cash management and trade finance capabilities. The platform provides customers with a single login to access account statements and securely initiate transactions on a real-time basis. IDEAL 3.0 currently has over 162,000 corporate users in 104,000 institutions across Singapore, Hong Kong, China, India, Indonesia, Taiwan and the United Kingdom, and processes more than 40m transactions annually.
“DBS has a very diverse corporate client base in terms of size of business and geography – ranging from local-small and medium sized enterprises [SMEs] to Western-multinational corporates [MNCs] and large Asian businesses,” said Tom McCabe, head of global transaction Services at DBS. “We needed a flexible solution to allow us to cater to our clients’ complex requirements and provide the necessary tools to manage their working capital.”
“DBS was able to integrate ACI’s solution into our technical infrastructure across our key markets – greatly reducing operational costs. This integration also provided standardisation of operational processes and delivered straight-through processing [STP] with no manual intervention, dramatically increasing our efficiency and reducing human error,” adds Dave Gledhill, head of group technology and Operations at DBS.