Alaric, a global supplier of fraud prevention and payments solutions, announced today that it has signed a deal with the Indonesian arm of a large international bank, the first success of Alaric's recent partnership with PT. Mitra Integrasi Informatika (MII).
The bank, which is headquartered in The Netherlands, has selected Alaric's Authentic product as the card authorisation switch for its portfolio of debit cards in the region. This will be part of a larger project to move to a new core banking system and bring card management and authorisation in house.
Alaric partnered with MII in 2012, to strengthen Alaric's position in the market and demonstrate its commitment to supporting banks on the ground in Indonesia. "Indonesia has a large number of banks and they offer a wide range of transaction types - far more than we would typically see in Europe or the US - these might include complex transfers, a wide range of service payments and pre-paid top-ups," said Paul Griffin, general manager Asia/Pacific at Alaric.
"By partnering with MII we ensure that our customers in Indonesia can obtain the best possible service and support locally. MII's employees are experienced in the payments space and on Alaric's products, combine this with our unique, open technology and we are able to offer a true, full service support in country. We are working with the MII team to train more resources to support Alaric's customers directly," he continued. "Already in the first few months of partnership we have signed multiple new contracts for Alaric's technology in Indonesia".
"Financial institutions in Indonesia have often been wary of starting major IT projects because they have been stung in the past by implementations taking far longer than anticipated due to the complex nature of the Indonesian payments market. We are delighted to be working with Alaric to bring our expertise of the market to help deliver its highly configurable and flexible Authentic solution," said Sjafril Effendi, President Director of PT. Mitra Integrasi Informatika.
Authentic is a modern, ultra high-performance EFT authorisation and routing system managing transactions from all channels across the enterprise from ATM and Pd POS to ecommerce and mobile. Unlike conventional payments processing software, Authentic absorbs change with ease. It combines unrivalled flexibility of deployment with efficiency of processing. Providing the payments engine for global networks and large processors, Authentic has achieved in excess of ten thousand transactions per second in benchmark tests.