Business
Federal Bank Chooses Fiserv to Support Launch of Their First Independent Credit Card
Proven platform, market-ready functionalities and business process outsourcing reduce the need for heavy capital investment and customization BROOKFIELD,
About this update from Fiserv, Inc.
[{"type":"text","content":"\nProven platform, market-ready functionalities and business process outsourcing reduce the need for heavy capital investment and customization\n\n BROOKFIELD, Wis., & MUMBAI, India--(BUSINESS WIRE)--\nFederal Bank (NSE: FEDERALBNK), a leading private sector bank in India, has chosen Fiserv, Inc. (NASDAQ: FISV), 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 the Federal Bank credit card. The bank will also outsource associated operational processes to Fiserv.\n\n\nWith a strong retail and remittance business in India, Federal Bank was looking for a flexible and scalable technology and business process outsourcing (BPO) solution to support the launch and subsequent growth of its credit card business. The bank will utilize FirstVision™ from Fiserv, an end-to-end managed services solution that enables card issuing and processing with global economies of scale and integrated capabilities that span the card lifecycle. The integrated technology and BPO solution reduce cost of ownership and provide a seamless extension to the bank’s operations.\n\n\n“At Federal Bank, we have a track record of deploying the best digital infrastructure to cater to our customers.” says 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.”\n\n\nThe 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.\n\n\nFor 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.\n\n\n“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 ...