Bank of Baroda’s Credit Card arm
Readies for Digital Transformation
with Implementation of Fiserv Technology
Flexible,
scalable solution accelerates digital transformation of card issuing and
processing
BOB Financial Solutions
Limited (BFSL), a wholly owned subsidiary of Bank of Baroda, has chosen Fiserv, Inc.
(NASDAQ: FISV), a leading global provider of payments and financial services
technology solutions, to enable the digitization of their end-to-end card
issuance and processing cycle and support the launch of several new and high-tech
products including contactless credit cards, tokenisation and integration with
branded wallets and virtual credit cards.
BFSL is one of the earliest issuers of credit cards
in India and has a reputation for delivering superior card products and
services to its customers. To advance their digital strategy and keep pace with
rapidly changing consumer expectations, BFSL 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 service-oriented architecture and open APIs of
FirstVision facilitate 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.
“Delivering robust, secure products and a superior
experience to our customers is our priority,” said Shailendra Singh, managing
director and CEO at BOB Financial Solutions Limited. “Fiserv understands our
market, and we value the fact that 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.”
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