Fiserv to help Federal Bank in their Digitization Journey

Fiserv has now revealed that it will enable the digitization of the Federal Bank’s first independent credit card issuance and processing cycle.

Fiserv is a leading global provider of information management and electronic commerce systems for the financial services industry, driving innovation that transforms experiences for the financial institutions and their clients.

Shalini Warrier, Executive Director, and Business Head - Retail at Federal Bank, said, "At Federal Bank, we have a track record of deploying the best digital infrastructure to cater to our customers. 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."

Ivo Distelbrink, EVP and head of Asia Pacific at Fiserv, said, "The partnership with Federal Bank reinforces our market leadership in providing locally relevant, digital-first solutions to financial institutions in India. Financial institutions in India are undergoing a 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."

Fiserv revealed that it would also support the launch of the Federal Bank credit card and enable the bank to outsource associated operational processes. The bank will going to use the Fiserv end to end managed services solution that enables card processing and issuing process.

Fiserv will also integrate the Business Process Outsourcing and technology solution that will also reduce the cost of ownership.

Federal Bank’s digital transformation initiatives, over the last couple of years, also include deals with the TCS and niki.ai.

PC: Pablo, Pixabay