National Bank of Egypt Rolls Out ACI Acquirer for Back-End Merchant Accounting; Commits to Future with ACI Worldwide
National Bank of Egypt Rolls Out ACI Acquirer for Back-End Merchant Accounting; Commits to Future with ACI Worldwide
National Bank of Egypt Rolls Out ACI Acquirer for Back-End Merchant Accounting; Commits to Future with ACI Worldwide
(New York, N.Y. – October 27, 2011) – ACI Worldwide (Nasdaq: ACIW), a leading international provider of payment systems, today announced that National Bank of Egypt (NBE) has gone live on ACI Acquirer to transform its merchant acquiring infrastructure and enable it to deliver flexible and tailored back-end accounting and management solutions to its merchants.
National Bank of Egypt, which was the first established commercial bank in Egypt, is committed to delivering the latest products and services to its customers, and invests in technology to enable it to stay at the forefront of its industry. With the implementation of ACI Acquirer, the bank will be able to offer its merchants international multi-currency, multi-product and multi-card scheme payment processing leveraging standard product features, combined with the ability to support sophisticated retailer relationships. As a result, NBE will enjoy a competitive advantage through improved speed to market and customer focus. In addition, NBE will take advantage of ACI Acquirer functionality to offer its merchants more flexible billing and settlement options.
Mohamed Ihab, COO of NBE said, “The team from ACI was supportive throughout the implementation phase of the project, and we are delighted to start using ACI Acquirer to make a real difference to our merchant acquiring process. We are confident that we have a strategic platform for our future growth".
Paul Thomalla, SVP and managing director ACI Worldwide (EMEA) said, “National Bank of Egypt is determined to deliver world-class services to its customers and merchants, and the completion of this project gives the bank a truly differentiated service for all of its merchants, and enables it to respond to changing factors quickly and easily.”
ACI Acquirer is a comprehensive multi-currency merchant management system. It stores and manages merchant accounts and their histories, and gives acquirers complete control of the merchant accounting and settlement lifecycle. ACI Acquirer provides the capability to support the complete life cycle of back office processing including setting up merchant agreement terms and conditions, opening accounts, account management, transaction management, merchant service, billing and settlement.
For more information on ACI Acquirer please go to www.aciworldwide.com/acquirer.
About ACI Worldwide
ACI Worldwide powers electronic payments for more than 800 financial institutions, retailers and processors around the world, with its broad and integrated suite of electronic payment software. More than 90 billion times each year, ACI’s solutions process consumer payments. On an average day, ACI software manages more than US$12 trillion in wholesale payments, and for more than 160 organizations worldwide, ACI software helps to protect their customers from financial crime. To learn more about ACI and understand why we are trusted globally, please visit www.aciworldwide.com. You can also find us on www.paymentsinsights.com or on Twitter @ACI_Worldwide.
About National Bank of Egypt
Founded in 1898, National Bank of Egypt (NBE) is the first established commercial bank in Egypt and the largest player in the Egyptian banking sector. NBE is the market leader in terms of total Assets with a market share of 24.5%, and in terms of total Loans and advances with a market share of 21.7%, as well as leading the market in customer deposits with a market share of 27.4%. It has the largest branch network of 428 branches and outlets, the largest ATM network of more than 1000 terminals, and the largest customer base of approximately 5 million customers. NBE is the largest lender in the trade finance sector in Egypt, and the largest lender to SME's in Egypt, which is a key group driving economic development in the Egyptian private sector. NBE enjoys an effective international presence through the National Bank of Egypt (UK) limited, its New York and Shanghai branches, as well as representative offices in Johannesburg - South Africa, Addis Ababa – Ethiopia, and Dubai – UAE, in addition to an extensive correspondent network round the globe mainly in Europe, which is Egypt's premier commercial partner.
Contact details
For more information contact:
Catherine Eyres
ACI Worldwide
+44 (0) 1923 812741
press@aciworldwide.com
