“The feature-rich card processing platform and operational tools provided by Fiserv help reduce the need for extensive up-front investments”
MUMBAI, Aug 13, 2020 – Federal Bank has chosen Fiserv, Inc, a leading global provider of payments and financial services technology solutions, to enable the digitization of the bank’s end-to‑end card issuance and processing cycle, and support the launch of Federal Bank credit card. The bank will also outsource associated operational processes to Fiserv.
“At Federal Bank, we have a track record of deploying the best digital infrastructure to cater to our customers.” said Shalini Warrier, Executive Director and Business Head – Retail at Federal Bank. “Fiserv supports our digital priorities and expansion plans. Their world-class technology platform and extensive local experience position us to offer an enhanced digital experience to our customers.”
The service-oriented architecture and open APIs of FirstVision facilitate rapid application development, enabling new capabilities to be brought to market more quickly and at a lower cost, while helping to ensure local compliance.
For financial institutions looking for scalable and cost-effective technology and operational support as they grow, the combination of a software as a service (SaaS) solution and business process outsourcing offers a sustainable model in competitive market environments like India.
“The feature-rich card processing platform and operational tools provided by Fiserv help reduce the need for extensive up-front investments,” said Nilufer Mullanfiroze, Country Head – Deposits, Cards & Personal Loans, Retail Banking at Federal Bank. “This allows us to stay agile and focus our resources on delivering relevant solutions and excellent services to our customers as we continue to grow the business.”
“The partnership with Federal Bank reinforces our market leadership in providing locally relevant, digital-first solutions to financial institutions in India,” says Ivo Distelbrink, EVP and head of Asia Pacific at Fiserv. “Financial institutions in India are undergoing rapid digital transformation, and have further accelerated their digital agenda during the current pandemic. Fiserv stands ready to provide the right combination of digital capability, infrastructure, personnel and security to help our clients adapt, differentiate and operate more efficiently.”
In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.