India’s Karnataka Bank Reaffirms Its Confidence in FIS by Increasing Number
of ATMs under Outsourcing Management
*Enables Karnataka Bank to expand its ATM network
*Bank achieves efficiency gains and frees resources for customer service
and growth initiatives.
*FIS delivers an efficient ATM service with predictable costs for the bank
and a reliable, high-quality ATM service to cardholders.
*Multi-year deal expands FIS’ presence in India, a key market in FIS’
international growth strategy.
JACKSONVILLE, Fla. & NEW DELHI, India -- May 2, 2013
FIS™ (NYSE:FIS), the world’s largest provider of banking and payments
technology, today announced that it will supplement its outsourced ATM
management and debit card processing for Karnataka Bank with additional ATMs.
This new deal follows FIS’ recent announcement to significantly expand its ATM
outsourcing operation in India. Once the two new ATM projects are fully
implemented, FIS will manage approximately 11,000 ATMs across India. The
agreement with Karnataka Bank further highlights the operational gains banks
in India realize by outsourcing ATM driving and management to FIS.
Karnataka Bank is a progressive and rapidly growing private sector bank having
just reached the milestone of operating 550 branches. By outsourcing their ATM
management to FIS, the bank will be able to focus on its core business
expansion and customer service initiatives – allowing for more rapid growth
while ensuring its customers have a high-quality, reliable ATM service. Under
the agreement, FIS will be responsible for site preparation and implementation
of new ATMs, transaction switching, cash management and post-implementation
services that include preventive maintenance, caretaker services, help desk
and operational monitoring.
The announcement underscores a growing trend in India for banks to contract
non-differentiating services, such as ATM driving, to expert providers such as
FIS. Banks benefit by redirecting investments tied up in ATM equipment and
operations to more strategic areas, thus deriving operational efficiencies. In
addition, banks can leverage the ATM driving expertise of FIS to deliver a
high-quality and reliable ATM service to their customers.
FIS is a leader in ATM managed services in India. It operates two of India’s
four interbank ATM switching networks and provides an outsourcing service for
many of India’s largest and most successful banks. India is a strategic growth
market for FIS and the company is making significant investments in both
in-country infrastructure and employees to support the continued success of
“Karnataka Bank has held a long-standing relationship with FIS,” said a senior
official at Karnataka Bank. “By expanding our relationship to include the
management of our ATMs and debit cards to FIS, we are ensuring our continued
growth and viability in the market through the ability to provide excellent
“FIS is a global leader in financial services technologies and has been
serving clients in India for more than 15 years,” said Raja Gopalakrishnan,
Group Managing Director – Asia, FIS. “By outsourcing the management of its ATM
estate to FIS, Karnataka Bank can release vital capital to redeploy on core
activities, increase operational efficiencies, provide better service to its
customers and insulate itself from technology obsolescence. Karnataka Bank is
a strategic client and joins the more than half of India’s top 30 banks who
rely on FIS’ comprehensive portfolio of banking and payment services.”
FIS (NYSE: FIS) is the world’s largest global provider dedicated to banking
and payments technologies. With a long history deeply rooted in the financial
services sector, FIS serves more than 14,000 institutions in over 100
countries. Headquartered in Jacksonville, Fla., FIS employs more than 35,000
people worldwide and holds leadership positions in payment processing and
banking solutions, providing software, services and outsourcing of the
technology that drives financial institutions. First in financial technology,
FIS tops the annual FinTech 100 list, is 425 on the Fortune 500 and is a
member of Standard & Poor’s 500® Index. For more information about FIS, visit
This news release contains forward-looking statements that involve a number of
risks and uncertainties. Statements that are not historical facts, including
statements about our beliefs and expectations, are forward-looking statements.
Forward-looking statements are based on management's beliefs, as well as
assumptions made by, and information currently available to, management.
Because such statements are based on expectations as to future economic
performance and are not statements of fact, actual results may differ
materially from those projected. We undertake no obligation to update any
forward-looking statements, whether as a result of new information, future
events or otherwise. The risks and uncertainties which forward-looking
statements are subject to include, but are not limited to: changes in general
economic, business and political conditions and other risks detailed in the
“Statement Regarding Forward-Looking Information,” “Risk Factors” and other
sections of the Company’s Form 10-K and other filings with the Securities and
Kim Snider, +1 904.438.6278
FIS Global Marketing and Communications
Mary Waggoner, +1 904.438.6282
Senior Vice President
FIS Investor Relations
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