Bharatiya Mahila Bank selects FIS as its technology partner

It’s official now.   Bharatiya Mahila Bank which has decided to adopt a new approach for its technology process, has selected technology from US fintech vendor FIS.

FIS under a multi-year agreement will provide a core banking platform, trade finance and payments services like debt card and ATM management, data centre management and branch technology infrastructure management.

Usha Ananthasubramanian, chairman and MD, Bharatiya Mahila Bank, says: “FIS was able to present us a high-quality technology solution with a model that could be operationalised in the shortest time frame and is easily scalable for our planned growth.”

FIS is a Fortune 500 company, and is one of the largest providers of banking technology in the world, was selected as a technology vendor by BMB through a competitive bidding process.

Gary Norcross, president and chief operating officer, FIS said despite fierce bidding, the BMB mandate is an economical viable transactions for us and the company is aiming to bag more just projects in the near future.

“We are excited about new bank licences being issued. We will compete very diligently and hopefully win some of the mandates,” he said.

In India, in the recent past, FIS has assisted ING Vysya Bank ‘to offer the fastest domestic electronic funds transfer facility among banks in India’.

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