ACI Worldwide and Arab Financial Services To Drive Payments Modernization for Banks and Merchants

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ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software,
today announced a 10-year strategic partnership with Arab Financial Services (AFS), the Middle
East and Africa region’s leading digital payment solutions provider and fintech enabler. This
partnership will see them collaboratively drive digital payments modernization for banks,
fintechs and merchants across the region.

Regulated by the Central Bank of Bahrain, AFS is owned by a total of 37 banks and financial
institutions and serves over 60 clients in more than 20 countries across the Middle East and
Africa region. The company provides numerous groundbreaking, end-to-end digital payment
products, services and solutions to banks and merchant groups. AFS’ innovative approach to the
provision of financial services is evidenced by a series of market-leading payment services that
span card processing services, merchant acquiring, fintech solutions and value-added services.
With this strategic partnership, AFS will utilize ACI Enterprise Payments Platform, a single
transaction processing platform for all payment types, backed by cutting-edge security, flexible
cloud-ready technology and multi-language, multi-currency, multi-institution capabilities to
drive the retail banking modernization for its banking and fintech customers.

The company will also deploy ACI Payments Orchestration Platform, enabling its merchant
customers to orchestrate payments using one solution, one platform and one API integration for
optimal conversion rates at minimal operation costs. It will allow merchants and payment service
providers to provide customers more seamless and secure customer journeys.
“Arab Financial Services is thrilled to embark on a strategic partnership with ACI Worldwide,”
said Samer Soliman, CEO, Arab Financial Services. “As the payments landscape becomes ever
more intricate and prone to disruption, a reliable technology partner offering industry-leading
solutions is crucial. Together, AFS and ACI Worldwide are committed to empower our
customers with cutting-edge technology that streamlines operations, fosters growth and unlocks
new levels of profitability.”

“ACI’s partnership with Arab Financial Services is an important milestone in our strategy to
support banks and merchants in the Middle East in their quest for digital payments
modernization,” commented Santhosh Rao, senior vice president, MEASA, ACI Worldwide. Our
flexible, agile and innovative payment software solutions will now be available to banks,

financial institutions and merchants across the region. AFS is now in a strong position to support
all customers in the region on their quest for digital transformation and innovation, while
enabling the resiliency and service quality required by next-generation payment systems.”

About ACI Worldwide
ACI Worldwide is a global leader in mission-critical, real-time payments software. Our proven,
secure and scalable software solutions enable leading corporations, fintechs and financial
disruptors to process and manage digital payments, power  omni-commerce payments , present
and process bill payments, and manage fraud and risk. We combine our global footprint with a
local presence to drive the real-time digital transformation of payments and commerce.
© Copyright ACI Worldwide, Inc. 2024
ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay and all ACI product/solution
names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its
subsidiaries, in the United States, other countries or both. Other parties’ trademarks referenced
are the property of their respective owners.

About AFS:
Arab Financial Services (AFS) was formed in 1984 to provide payment products, services and
expertise to banks and merchant groups and deliver customized payment solutions in an
increasingly divergent, disruptive, and dynamic payment ecosystem.
AFS is owned by 37 banks and financial institutions, and serves over 60 clients in more than 20
countries across the Middle East and Africa. Today, AFS is the region’s leading digital payment
solutions provider and fintech enabler. Regulated by the Central Bank of Bahrain, its dedication
to innovation has made AFS a driving force in the market offering a rich portfolio of payment
solutions including Open Banking Hub, popular digital wallets, market-leading merchant
acquisition services, digital payroll solutions and more. Providing the highest quality payments
solutions that are trusted by businesses, AFS has offices and data centers in the Kingdom of
Bahrain, Arab Republic of Egypt, Sultanate of Oman, and the United Arab Emirates.

About Faisal Ebrahim

Tech enthusiast, IT & Cybersecurity consultant & Sales manager. I'm passionate about staying ahead of the curve on emerging technologies, including EVs, AI, robotics, and the metaverse. For over 15 years, I've explored and shared these innovations on my blog,

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