According to the company, the solution will help the bank increase revenues and grow its credit card and retail merchant customer base. With the Ambit Card Management solution, the bank will be able to cost efficiently issue MasterCard and VISA (EMV) chip cards, corporate cards and pre-paid cards, SunGard said. Ambit 3D Secure will help the bank securely process credit card transactions over the internet, helping it increase business via its online channel, it added.
Bank Alfalah is a long time user of SunGard’s Ambit Card Management solution and according to Visa is the largest issuer of Visa credit card and merchant acquirers in Pakistan.
According to Bank Alfalah, it provides plastic money services to over 675,000 customers and merchant facilities to over 33,000 merchants. Since first installing Ambit Card Management in 2002 as the backbone of its credit card system, more than a million applications have passed through Bank Alfalah’s card issuing and acquiring system, the company said.
The introduction of EMV chip cards and 3D secure technology will help Bank Alfalah deploy high levels of security for credit card transactions, representatives said. Upgrading to the latest version of Ambit Card Management will help the bank further grow its credit card customer and merchant base, they added.
Adil Rashid, group head of consumer finance at Bank Alfalah Limited, said, “Staying at the forefront of innovation and modern technology has always been a top priority for Bank Alfalah and expanding our credit card business is a part of this aim. The success of our existing relationship with SunGard gives us confidence that it will continue to provide a high standard of service. SunGard has an established presence in Pakistan and a deep understanding of our market and challenges. SunGard is a trusted technology partner to us and the Ambit Card Management solution will help us provide enhanced security around our card management business and help us grow revenues while lowering operational costs.”
Also commenting on the initiative, Amer Pasha, country manager Visa Pakistan & Afghanistan, said, “Being the largest Visa credit card issuer in Pakistan, the adoption of SunGard’s Ambit technology by Bank Alfalah will help them in maintaining and strengthening cardholder trust by offering innovative and secured products.”
Fabian Camenzind, COO of SunGard’s Ambit Retail Banking business unit, said, “The credit card industry is extremely competitive and banks need the capability to create and launch new products quickly and cost-effectively. SunGard’s Ambit Card Management solution provides a modular and parameterized card management platform that allows banks to offer innovative card products with quick time to market while helping serve clients more efficiently, securely and profitably.”