US firm Fiserv to support Federal Bank to launch credit card

By: |
August 14, 2020 1:30 AM

With a strong retail and remittance business in India, Federal Bank was looking for a flexible and scalable technology and business process outsourcing solution to support the launch and subsequent growth of its credit card business, she added.

The Kerala-based lender has also outsourced the associated operational processes to Fiserv.The Kerala-based lender has also outsourced the associated operational processes to Fiserv.

Federal Bank on Thursday said it has chosen Fiserv, a global provider of payments and financial services technology solutions, to enable digitisation of the bank’s end-to-end card issuance and processing cycle. The US company will support the launch of Federal Bank credit card. The Kerala-based lender has also outsourced the associated operational processes to Fiserv.

“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. Its world-class technology platform and extensive local experience position us to offer an enhanced digital experience to our customers.”

With a strong retail and remittance business in India, Federal Bank was looking for a flexible and scalable technology and business process outsourcing solution to support the launch and subsequent growth of its credit card business, she added.

The bank will utilise FirstVision from Fiserv, an end-to-end managed services solution that enables card issuing and processing. The integrated technology and BPO solution reduce cost of ownership and provide a seamless extension to the bank’s operations.

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.

“The feature-rich card processing platform and operational tools provided by Fiserv help reduce the need for extensive upfront investments,” said Nilufer Mullanfiroze, country head – deposits, cards and personal loans, retail banking at Federal Bank.

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