Federal Bank Set to Launch Its Own Credit Card
The bank has chosen US based Fiserv for flexible and scalable technology and business process outsourcing solution to support its credit card business
Mumbai: Federal Bank (NSE: FEDERALBNK), a leading private sector bank in India, has chosen Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, to launch first independent credit card in a year. The bank, which already has a co-branded card offering with SBI Cards, will focus on its existing customer base of over one crore to sell cards, said its country head for deposit, cards and personal loans Nilufer Mullanfiroze.
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. The bank will utilize FirstVisionTM from Fiserv, 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. 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 world-class technology platform and extensive local experience position us to offer an enhanced digital experience to our customers.” says Shalini Warrier, Executive Director and Business Head – Retail at Federal Bank.