KUALA LUMPUR: Affin Bank Bhd targets to boost its capacity to process transactions, both small and high-value payments, by more than 20% across all its banking platforms, following a partnership with software solutions provider, ACI Worldwide.

Affin group chief operating officer Risham Akashah Kamaruzaman said this partnership forms part of the bank’s digitalisation drive, which has earmarked RM400 million in capital expenditure this year.

“Affin expects the increase in transaction traffic volume for low-value payments in the first quarter of 2025, while high-value payments will see an increase from the second quarter of 2025 onwards,” he told reporters, at the official signing ceremony of the partnership today.

“This partnership also aims to achieve a 75% efficiency boost through process automation and the elimination of manual actions, thereby reducing errors. Affin is expected to handle up to 20% more transactions, supporting growth and scalability,” he added.

He said that having a robust payment infrastructure serves as a crucial catalyst for driving innovation and enabling scalable growth within the industry.

“It enables Affin to deliver integrated, value-driven payment solutions that cater to the diverse needs of today’s dynamic business landscape and customer demands. This partnership represents a significant stride in Affin’s digital transformation journey, streamlining operations and enhancing the customers’ payment experience,” added Risham.

He further stated that embracing digital tools and solutions are the key aims for Affin, enhancing efficiency, improving customer experiences, and staying ahead in a rapidly evolving market.

“This initiative aligns seamlessly with the Affin Axelerate 2028 plan, which is the strategic pillar of our digital leadership,” added Risham.

Under this partnership, the new enterprise payments platform is designed to streamline and enhance the efficiency of payment processes for enterprises. It offers a centralised system that consolidates all payment instructions from various channels, merging high-value and low-value payments.

This includes the Affin Delivery System, AffinAlways retail internet banking and mobile internet banking, Affinmax (corporate internet banking platform) and ATMs.

According to Risham, the deployment of this platform will be carried out in phases, with the first phase already completed.

“Affin is currently working on completing the second phase, with expected completion before 2025, while the full and complete solution will be launched in the fourth quarter of 2025,” he said.