State Bank of Mauritius Chooses ACI Worldwide E-Payment Software; ACI System to Help State Bank of Mauritius Meet EMV Processing Requirements
Business Editors & Technology Writers
OMAHA, Neb.–(BUSINESS WIRE)–Oct. 10, 2001
ACI Worldwide (Nasdaq:TSAI), a leading international provider of enterprise e-payment solutions, announces the licensing of its BASE24(R) e-payment processing software to State Bank of Mauritius Limited (SBM), winner of the 2001 Bank of the Year Award for Mauritius and one of the world’s top 1000 banks. SBM will use BASE24 to authorize, route and switch both ATM and POS transactions and to meet processing requirements for EMV (Europay, MasterCard and Visa) smart card transactions.
SBM’s decision to select BASE24 was prompted by a number of key requirements, including the need for a scalable solution to meet aggressive transaction growth objectives, the bank’s need to support multiple delivery channels and devices, and SBM’s need to meet mandated dates for EMV acquiring and issuing. BASE24 will replace the bank’s existing processing system, which does not support EMV.
“We have a reputation as a leader in harnessing the capabilities of information technologies to improve our service to customers and contribute to the bottom line,” said Sailesh Sewpaul, team leader of Online Services for SBM. “Our decision to invest in ACI technology is no exception. ACI is the recognized leader in consumer payments software, and their BASE24 system meets our current requirements–while providing the flexibility to enhance our service offerings in the future.”
In addition to helping SBM meet EMV requirements, the bank will use BASE24 to integrate its ATM and POS processing operation. The bank processes an average of 650,000 ATM and 100,000 POS transactions monthly. SBM will consolidate all of its offshore e-payment processing activities in India, Madagascar and Rodriguez Island to its central hub in Mauritius.
BASE24 supports multiple delivery channels, from the traditional–ATM and POS–to the emerging–Internet and mobile. It also supports all card types, including credit, debit and smart cards and interfaces with global credit and debit networks.
“Our goal is to assist our customers as they provide new and innovative services to consumers,” said Jeremy Wilmot, managing director of ACI Worldwide’s sub-Saharan operation headquartered in South Africa. “With BASE24, SBM can address a wide range of processing needs for its e-payment operation, including multi-currency, smart cards and e-commerce, all on a platform that is the world leader in offering a reliable and scalable transaction infrastructure.”
BASE24 is used by more than 340 ACI customers around the world to manage devices, route and switch transactions, and provide authorization support for high-volume payments processing. The software operates on Compaq NonStop Himalaya systems to provide 24/7 support for ATM and POS networks, manned teller systems, telephone banking, mobile commerce, and Internet banking and commerce.
About State Bank of Mauritius
State Bank of Mauritius (SBM) was founded in 1973 and is the largest company in Mauritius as measured by market capitalization, commanding just under 27 percent of market share in domestic commercial banking business. In the domestic market, SBM has a leading position in information technology and the lowest cost-to-income ratio in the industry. SBM’s delivery network includes 52 branches and counters, 80 ATMs, and 787 point-of-sale merchant terminals serving over 380,000 individuals and business customers. Apart from commercial banking, SBM through its subsidiaries and associates also offers financial leasing, investment banking, fiduciary, stock broking and asset management services.
The Bank opened its first overseas branch in Mumbai (India) in 1994 and has since then opened two additional branches, one in Chennai and one in Hyderabad. In 1998, the bank started operations in Madagascar through its subsidiary bank, Banque SBM Madagascar. The overseas operations focus mainly on corporate banking, trade finance, correspondent banking and treasury services to business customers.
The Banker recently named SBM its 2001 Bank of the Year for Mauritius. The award reflects outstanding quality and innovation in the financial world, and the 106 individual country winners represent the cream of the global banking community.
About ACI Worldwide
Every second of every day, consumers are initiating electronic payment transactions–getting cash at ATMs, using debit and credit cards to make purchases in stores and on the Internet, banking by phone and PC, paying bills online. Twenty billion times a year, ACI software is used to process these transactions, powering the world’s online payment systems. ACI was founded in 1975 and pioneered the development of applications and networking software for online transaction processing. Today more than 530 customers in 79 countries use ACI supplied software. Visit ACI Worldwide on the Internet at www.aciworldwide.com.
Any statements in this press release regarding projected results are preliminary and “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, this press release may contain other forward-looking statements including statements regarding Transaction Systems Architects, Inc.’s (“TSA”), its subsidiaries or third parties’ expectations, predictions, views, opportunities, plans, strategies, beliefs, and statements of similar effect. The forward-looking statements in this press release are subject to a variety of risks and uncertainties. Actual results could differ materially. Factors that could cause actual results to differ include but are not limited to the following.
The success of TSA, or any of its subsidiaries, entering into a new distribution or partnering arrangement depends on numerous factors including the acceptance of the distributed products or services by TSA’s existing customer base and integration of the products and services into TSA’s marketing efforts, the quality of the products or services as perceived after use by TSA’s customers, and the degree of competition from competitive products or service providers.
TSA’s business is concentrated in the banking industry, making it susceptible to a downturn in that industry.
TSA is subject to risks of conducting international operations including: difficulties in staffing and management, reliance on independent distributors, fluctuations in foreign currency exchange rates, compliance with foreign regulatory requirements, variability of foreign economic conditions, and changing restrictions imposed by U.S. export laws.
Fluctuations in quarterly operating results may result in volatility in TSA’s stock price. No assurance can be given that operating results will not vary. TSA’s stock price may also be volatile, in part due to external factors such as announcements by third parties or competitors, inherent volatility in the high-technology sector and changing market conditions in the industry.
For a detailed discussion of these and other risk factors, interested parties should review TSA’s filings with the Securities and Exchange Commission, including Exhibit 99.01 to TSA’s Annual Report on Form 10-K for the fiscal year ended September 30, 2000.
COPYRIGHT 2001 Business Wire
COPYRIGHT 2001 Gale Group