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Thursday, October 9, 2014

Bandhan Bank appoints FIS Intl to develop core banking tool

The upcoming Bandhan Bank has appointed FIS International, one of the largest banking and payments technology solutions provider globally, to develop its core banking software solutions.

According to a release issued by FIS, the global major will help Bandhan by providing and managing a fully integrated banking and payments platform through a totally outsourced delivery model.

This will include the core banking, channel solutions, treasury, trade finance, and an entire suite of payments services that includes debit card management and interback connectivity.

Bandhan, the country’s largest micro-finance institution, was granted an “in-principle” banking licence by the Reserve Bank of India earlier this year.

Bandhan is expected to start banking operations by September 2015 with about 600 branches and operations across 27 states.

“Our comprehensive, in-country servicing capabilities will allow Bandhan to launch its operations whilst remaining focused on bringing financial opportunities to large numbers of people across India,” Raja Gopalakrishnan, Group Managing Director – Asia-Pacific and CO, FIS International, said.

“Bandhan is relying on FIS to manage its entire banking infrastructure so that it can focus on the economic needs of its customers and on how to most effectively promote its business,” he added.​

Source : The Hindu


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