Solution from FIS to Power India’s First Women-focused Bank
*Bharatiya Mahila Bank Ltd. is India’s first women-focused public sector
bank, created specifically to cater to the financial services needs of
*FIS will provide the bank’s technology foundation including core banking,
eBanking, and debit card and ATM servicing and processing.
*The bank’s first seven branches will open in November 2013, a mere two
months after the selection of FIS as the bank’s technology partner.
*FIS is to deploy and manage the branch technology infrastructure
supporting the bank’s innovative branch strategy, bringing financial
services to a broader customer base.
JACKSONVILLE, Fla. & NEW DELHI -- November 18, 2013
Building on its reputation of delivering innovative solutions to address the
needs of unique market segments, FIS™ (NYSE: FIS), the world’s largest
provider of banking and payments technology, today announced it will power
Bharatiya Mahila Bank Ltd., India’s first women-focused public sector bank.
Under the terms of the multi-year agreement, FIS will provide a fully
integrated banking and payments platform through a totally outsourced delivery
model encompassing core banking, channels, trade finance and the entire suite
of payments services that includes switching, debit card management services
and ATM management.
In addition to implementing a comprehensive set of banking and payment
solutions and services, FIS will set up and manage data centers and will also
deploy and manage the branch technology infrastructure. Bharatiya Mahila Bank
Ltd. plans to adopt an innovative branch strategy that incorporates satellite
and ultra-small mobile branches as well as conventional ones.
India’s government has begun an initiative to economically empower its female
citizens. Bharatiya Mahila Bank Ltd. is part of the initiative. One of its
primary goals is the financial inclusion of India’s unbanked, more
specifically, rural women. By outsourcing all of its technology infrastructure
setup and management to FIS, the bank will be able to focus on serving the
unique economic needs of women across the country.
“Women are one of the most financially underserved market segments in India,
and this initiative is a significant step to change that. FIS is proud to be
able to contribute to this important social and fiscal initiative. It is
crucial for the success of this venture for Bharatiya Mahila Bank Ltd. to be
able to direct its efforts on expanding its reach and growing its customer
base without the distractions of owning and running technology operations,”
said Raja Gopalakrishnan, Group Managing Director – Asia, FIS. “FIS’ proven
solutions, coupled with its comprehensive local servicing capabilities, will
enable Bharatiya Mahila Bank Ltd. to launch its operations in an exceptionally
short time frame and provide the impetus to get the bank off to a running
“Women are the most underutilized economic asset of our country. Our goal is
to be the foremost provider of banking services to women,” said Mrs. Usha
Ananthasubramanian, Chairman and Managing Director, Bharatiya Mahila Bank Ltd.
“FIS was able to present us a high-quality technology solution with a model
that could be operationalized in the shortest time frame and is easily
scalable for our planned growth.”
The government of India has committed ₹10 billion (US $160 million) towards
the initial capital of the bank.
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 434 on the Fortune 500 and is a
member of Standard & Poor’s 500^® Index. For more information about FIS, visit
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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