Bank of Baroda’s credit card arm implements Fiserv technology for digital transformation
Kolkata/IBNS: BOB Financial Solutions Limited (BFSL), a wholly owned subsidiary of Bank of Baroda, has chosen Fiserv.Inc, a global provider of payments and financial services technology solutions, to enable the digitization of their end-to-end card issuance.
To advance BFSL’s digital strategy and keep pace with rapidly changing consumer expectations, it will utilize Fiserv’s First VisionTM which is 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.
First VisionTM facilitates rapid application development, enabling new capabilities to be brought to market more quickly and at a lower cost.
The software as a service (SaaS) solution is hosted locally in India and enables card processing for major issuers across the country, helping ensure compliance with local payment and customer data regulations.
Shailendra Singh, M.D and CEO of BFSL said, "Fiserv understands our market, and we value the fact that their card processing capabilities are hosted in India.
"The scalable, integrated technology provided by Fiserv will allow us to deliver the experiences our customers expect now and into the future, as we accelerate the launch of new products and services being adopted by all major issuers.”
Ivo Distelbrink, EVP and Head of Asia Pacific at Fiserv mentioned, "With Fiserv, BFSL can re-imagine customer journeys and launch to market with speed in order to better serve their customers in a rapidly changing digitally-centric world."