Federal Bank has partnered with Fiserv, Inc. to enable the digitization of it’s end-to-end card issuance and processing cycle to support the launch of the Federal Bank credit card, their 1st Independent Credit Card. The Federal bank will also outsource associated operational processes to Fiserv.
- The Federal Bank will utilise Fiserv’s FirstVision, an end-to-end managed services solutions which enable card issuance and processing with global economies of scale and integrated capabilities that span the card lifecycle.
Key Info
i.The business process outsourcing (BPO) solution and integrated technology helps the bank to reduce the cost of ownership and also provide a seamless extension to the bank’s operations.
ii.The card processing platform and operational tools provided by Fiserv helps to reduce the need for extensive up-front investments.
iii.FirstVision’s service-oriented architecture and open APIs facilitate rapid application development, bringing new capabilities to market quickly and at low cost, while helping to ensure local compliance.
iv.The financial institutions who are 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
Recent Related News:
i.BOB Financial Solutions Limited(BFSL) has chosen Fiserv, Inc. to enable the digitization of their end-to-end card issuance and processing cycle and support the launch of several new and high-tech products including contactless credit cards, virtual credit cards among others.
ii.SBM Bank India has partnered with Mastercard to enable its customers to make real-time domestic & cross-border payments(Business to Consumer- B2C) and remittances quickly and efficiently through ‘Mastercard Send’. This partnership allows the bank’s customer base to offer quick, convenient and secure payments experiences.
About Federal Bank
Headquarters– Aluva, Kerala
MD & CEO– Shyam Srinivasan
Tagline – Your Perfect Banking Partner
About Fiserv, Inc.
Headquarters– Brookfield, United States
Executive Chairman– Jeffery W. Yabuki
