Federal Bank has selected Fiserv, a provider of payments and financial services technology solutions, to digitize the bank’s 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.
Federal Bank will utilize FirstVision from Fiserv, a 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.
“Fiserv supports our digital priorities and expansion plans. Their technology platform and local experience position us to offer an enhanced digital experience to our customers,” said Shalini Warrier, executive director and business head – Retail at Federal Bank.
Ivo Distelbrink, head of Asia Pacific at Fiserv, said: “Financial institutions are undergoing rapid digital transformation, and have accelerated their digital agenda during the current pandemic.”