News

South African bank renews ACI software deal

July 4, 2006

WATFORD, England - ACI Worldwide, an international enterprise payment–solutions provider, has extended its relationship with South Africa's First National Bank, a division of First Rand Bank Ltd., for another five years.

According to a news release, FNB, an ACI customer since 1997, will continue leveraging ACI's BASE24-atm and BASE24-pos software to route and switch ATM and POS transactions across its network. FNB also has licensed ACI's Proactive Risk Manager to detect and prevent merchant fraud. The adoption of ACI's fraud-monitoring software will meet Visa's fraud mandate, which requires financial institutions to implement and automate risk-management solutions for acquiring.

ACI's solutions also have been certified EMV compliant with both Visa and MasterCard in anticipation of the local adoption of EMV cards.

"Our BASE24 system provides stability and enables FNB to meet its demanding service-level agreements with large retailers, allowing the bank to grow its merchant base and increase profitability of their business," said Richard Launder, ACI's EMEA (Europe, Middle East and Asia) president.