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National Bank of Kuwait Commits To ACI Money Transfer System on IBM System p

Selects state of the art replacement for in-house payment processing system and MERVA

Monday, September 19, 2011

NBK continues to enjoy the widest banking presence in Kuwait with 71 branches, which together with its growing international presence totals 177 branches worldwide. NBK’s international presence spans many of the world’s leading financial centers including London, Paris, Geneva, New York and Singapore, as well as China (Shanghai) and Vietnam (Ho Chi Minh City). Meanwhile, regional coverage extends to Lebanon, Jordan, Iraq, Egypt, Bahrain, Qatar, Saudi Arabia, the UAE, and Turkey.

NBK has close to a million customers across 16 countries, and is committed to ensuring it has the flexibility to launch new products and services to take advantage of the business opportunities offered by a rapidly changing marketplace. The project replaces both the existing in-house payment system and the MERVA installation with ACI Money Transfer System and is designed to meet all current and anticipated future requirements of the bank. The new system will run on IBM System p hardware, running AIX.

Dr. Fadi Chehayeb, NBK Group CIO said: "It is essential that the technology that underpins our critical payment systems is fully reliable and capable of delivering the best possible solution to our customers, meeting the business requirements of today and in the future. We have worked with ACI Worldwide for many years and use a wide range of different ACI solutions."

Paul Thomalla, SVP and Managing Director, ACI Worldwide (EMEA) said, “I am delighted that NBK has made the commitment to revitalizing its payments and messaging infrastructure with ACI Money Transfer System. The bank is very highly regarded by its peers and customers in the Middle East, and I am sure that the reliability and functionality of the new payments system will help maintain that reputation. With this project, NBK is breaking away from the challenges imposed by its older, in-house solution, and ensuring that it can face the future with confidence.”

Phil Heasley, CEO at ACI Worldwide said, “The Middle East is a key region for ACI Worldwide, with financial institutions consistently showing their commitment to staying one step ahead of their customers’ needs through the use of technology.”

For more information on ACI Money Transfer System please go to www.aciworldwide.com/moneytransfersystem.

Contact details

For more information contact:
Catherine Eyres
ACI Worldwide
+44 (0) 1923 812741
press@aciworldwide.com

Notes to editors

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 the National Bank of Kuwait
Since its incorporation in 1952 as the first indigenous bank and the first shareholding company in the entire Gulf region, NBK has been known as ‘The Bank You Know And Trust’. Thanks to the recognized excellence of its very stable management along with its unequivocal strategy, consistent profitability, high asset quality and strong capitalization, NBK, throughout the years, succeeded in building an advanced banking institution that offers a full spectrum of innovative and unrivalled financial and investment services and solutions to individuals, corporate and institutional clients. NBK enjoys a dominant market share with a large and ever expanding local and regional clientele. NBK also boasts the largest overseas branch network spanning many of the world financial and business centers.
NBK has consistently been awarded the highest credit rating of all banks in the region by Moody's, Standard & Poor's, and Fitch Ratings. The Bank’s ratings are supported by its high capitalization, prudent lending policies, and its disciplined approach to risk management, in addition to its recognized and very stable management team.