News

Alaric-MII partnership nets first Indonesian bank customer

March 14, 2013

Alaric, a supplier of fraud prevention and payments solutions, has signed a deal with the Indonesian arm of a large international bank. The unnamed Netherlands-based bank has selected Alaric Authentic as the card authorization switch for its debit cards in the region.

The new contract is a first for Alaric since the company partnered with PT Mitra Integrasi Informatika to provide product service and support in the region. It is part of a larger project by the FI to move to a new core banking system and bring card management and authorization in house.

Authentic is a high-performance EFT authorization and routing system designed to manage transactions from all channels across an enterprise from ATM and POS to e-commerce and mobile. The solution combines flexibile deployment with efficient processing and has achieved more than ten thousand transactions per second in benchmark tests, the company said in a news release.

"MII's employees are experienced in the payments space and on Alaric's products. Said combine this with our unique, open technology and we are able to offer a true, full service support in country. We are working with the MII team to train more resources to support Alaric's customers directly," said Paul Griffin, general manager for Asia/Pacific at Alaric.

"Financial institutions in Indonesia have often been wary of starting major IT projects because they have been stung in the past by implementations taking far longer than anticipated due to the complex nature of the Indonesian payments market," said Sjafril Effendi, president director of PT Mitra Integrasi Informatika. "We are delighted to be working with Alaric to bring our expertise of the market to help deliver its highly configurable and flexible Authentic solution." 

Read more about transaction processing.