The aim of ACH project was to connect the nation’s central bank with all banks in the country to deploy Direct Debit and Direct Credit payment transactions.
The new platform will allow the lender to offer its customers a simple, secure and reliable payment through electronic transfer, while reducing the volume of transaction using cheques.
In compliance with local regulations, the system also processes any type of payment regardless of size, complexity and structure, claims the lender.
QIIB chief operating officer Ali Al-Mesaifi said, "The solution includes functionality that extends visibility and control of both outbound and inbound payments through the complete payment life-cycle, from initiation to settlement."
Formed by the merger of Misys with Turaz, the company offers banking, treasury, trading and risk systems to 1,800 customers in 120 geographies across the globe.
