Press Release

MBSB Bank Berhad Engages ECS Fin to Modernize Payment Infrastructure

Malaysia, October 10, 2023

ECS Fin, the global leader in payments and financial messaging solutions, is collaborating with MBSB Bank Berhad, a full-fledged Islamic Bank in Malaysia, to modernize its payment infrastructure. As a part of ambitious digital transformation and enrich its customer’s banking experience, with ECS Fin the bank has implemented various modules of Retail E-Payments Platform in Malaysia. In this collaboration, the bank is also now ISO20022 ready for SWIFT and RENTAS with high STP rates.
Real-time and cross-border payment volumes in Malaysia are rising twice as fast as the global average. MBSB Bank’s merchants and corporate customers can reap the benefits of the growing volumes as the bank is among the few who are ready with all the real-time payment services in Malaysia. This business surge will also result in opening new avenues in the financial industry.
MBSB Bank selected ECS Fin’s IMS Payments over competing solutions owing to its modern yet intuitive business-service architecture and ease of interoperability with new and existing bank systems. By partnering with ECS Fin, the bank could accelerate its customer experience and modernize its payments roadmap by seamlessly migrating to ISO 20022 for SWIFT and RENTAS as well as quickly introducing new value-added services for retail e-payments.

ECS Fin, the global leader in payments and financial messaging solutions

Mohd Nazri Mohamed Tahir 
Head of Payment Operations at MBSB Bank Berhad, said

“As we seek to modernize our retail payments, drive innovation in e-Payments, and augment our institutions’ ability to compete and remain at the forefront of customer relationships; ECS Fin proved to be our valuable partner. ECS Fin has helped us reduce SWIFT and RENTAS processing times, introduced QR codes in retail e-payment platforms, and currently assisting us in implementing Real-Time Debit (RTD) and Request to Pay (RTP) transactions. Now, our customers can receive funds (internationally & domestically) within a near-immediate settlement instance in no time.”

Rajesh Krishna Rao
VP of ECS Fin, quoted

“With this deployment at MBSB Bank, IMS Payments solution is now LIVE at multiple banks in Malaysia, processing on an average over 2,000,000 transactions every month. We are committed to offering our customers a comprehensive set of payment solutions across payment rails along with the readiness to migrate to ISO 20022. The Go-live of RTP-Redirect is in a few hours from now. 07 Oct 2023”

ECS Fin is proud to be a trusted partner to MBSB bank, providing market-leading payment solutions to advance their customer experience and digital modernization goals. Together, we demonstrate the transformative power of technology and innovation in driving business growth and customer satisfaction.

About ECS Fin

ECS Fin stands as a prominent payment and financial messaging solutions provider in the APAC region, offering tailored solutions to corporates and bank transaction processing requirements. With over a decade of experience, we have been a trusted partner to financial institutions, investment managers, and corporations worldwide.

About MBSB Bank

MBSB Bank Berhad (MBSB Bank) is a full-fledged Islamic Bank in Malaysia that provides shariah-compliant banking facilities to retail, SME, and corporate customers. A wholly owned subsidiary of Malaysia Building Society Berhad (MBSB), the bank provides a wide list of financing products through its digital capabilities and product innovation to better serve its customers.