Simba Tech Uses ACI Software to Create First Hosted Electronic Payments Hub for East African Banks
(Watford, UK – 1 April 2008) – ACI Worldwide, (NASDAQ: ACIW), a leading international provider of software for electronic payment systems, today announced that Simba Technology, a major Sub Sahara company based in Nairobi, Kenya, has licensed BASE24®, the ACI Card Management System™ and ACI Proactive Risk Manager™ to establish an electronic payment service for banks in their region.
Simba Technology is using ACI software to offer a hosted electronic payments hub aimed primarily at banks that have not yet implemented a card payment solution. Services including payment card issuance, card account management, ATM and POS terminal driving, international and domestic transaction acquiring, and fraud monitoring will initially be available to banks in the East Africa region.
Regional banks currently entering the growing e-payments market may be reluctant to commit significant up-front investment in infrastructure when future transaction volumes are difficult to predict. The Simba service allows them to access a proven infrastructure to support their early card payment programmes without major up-front investment.
Mr. Ajit Jatania, CEO of Simba Technology Ltd., said, “This service will fill a gap in the market by providing banks, in the early stages of card payment programmes, the ability to use a world-class infrastructure on a cost-per-transaction basis. Through the payments hub, there will be no requirement for significant up-front investment in technology. The service will also provide benefits for banks with established e-payments businesses as it will enable them to lower their cost-per-transaction base and gain better efficiencies in their existing payment systems and processes.”
“Simba Technology is deploying their service in one of the fastest growing consumer payment markets in the Middle East and Africa region,” said Daryl Berg, general manager Sub Sahara Africa, ACI Worldwide. “We are pleased to provide Simba with a proven solution to launch their service in support of banks entering the card payments business.”
About Simba Technology
Simba Technology Ltd. was established in 1996 and is managed out of three offices on the continent – Nairobi, Dar-es-salaam and Lagos. Simba represents international software majors such as Oracle Corporation (USA), Infosys Technologies (India), 3i Infotech Ltd. (EMEA), ACI Worldwide, and 21st Century Health Mgmt Services (India) among others as a value added partner in the region.
Simba has participated integrally in the success stories of more than 100 enterprises in the banking and financial services, manufacturing, transport and public sector business verticals across Africa with a dedicated workforce of 160 personnel. Please visit www.simbatechnology.com to learn more.
About ACI Worldwide
Every second of every day, ACI Worldwide solutions are at work processing electronic payments, managing risk, automating back office systems and providing application infrastructure services. ACI is a leading international provider of solutions for banking, retail and cross-industry systems. ACI serves more than 800 customers in 86 countries including many of the world's largest financial institutions, retailers and payment processors. Visit ACI Worldwide 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 ACI Worldwide Incorporated, 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.
For a detailed discussion of these risk factors, parties that are relying on the forward-looking statements should review the Company's filings with the Securities and Exchange Commission, including the Company's Form 10-K filed on January 30, 2008, the Company’s Form 10-Q filed on February 19, 2008, both as amended by the Form 10-K/A and Form 10-Q/A, respectively, filed on March 4, 2008.
