Flexible, scalable alternative accelerates electronic transformation of card processing and issuing
BOB Financial Solutions Limited (BFSL), a wholly owned subsidiary of Bank of Baroda, has selected Fiserv, Inc. (NASDAQ: FISV), a major international supplier of payments and fiscal services technology alternatives, to permit the digitization of the end-to-end card issuance and processing cycle and encourage the launching of numerous high-tech and new goods such as contactless credit cards, tokenisation and integration together with pockets that are branded, and digital credit cards.
BFSL is among the first issuers of credit cards in India and has a reputation for providing superior card services and products to its clients. To progress their digital strategy and also maintain pace with fast changing consumer expectations, BFSL will use FirstVisionTM in Fiserv, an end-to-end managed services solution that permits card processing and issuing together with international economies of scale and integrated capabilities that span the card lifecycle.
The service-oriented design and open APIs of FirstVision facilitate rapid application development, allowing new skills to be brought to market faster and at a lower price. The application as a service (SaaS) solution is hosted everywhere in India and empowers card processing for important issuers throughout the nation, helping ensure compliance with local payment and client information regulations.
“providing solid, protected merchandise and a superior experience to our clients is our priority,” said Shailendra Singh, managing director and CEO in BOB Financial Solutions Limited. “Fiserv knows our marketplace, and we value that their own card processing capacities are hosted in India. The most scalable, integrated technologies given by Fiserv will permit us to provide the adventures our clients expect today and to the future, as we accelerate the launching of new products and services being embraced by all significant issuers.”
The FirstVision platform enables BFSL to proceed on their electronic transformation journey using a completely integrated package of card management applications such as electronic cards and loyalty management, innovative fraud modules, hazard management and analytics solutions.
“The rate where financial services providers will need to meet customer demand for electronic services has further accelerated as a consequence of the effect of COVID-19,” stated Ivo Distelbrink, EVP and head of Asia Pacific in Fiserv. “With Fiserv, BFSL can reimagine customer travels and start to advertise with speed to be able to better serve their clients in a fast changing digitally-centric world.”
About BOB Financial Solutions Limited
BOB Financial Solutions Limited (formerly known as ‘Bobcards Limited’) was established in the year 1994. It is a Non-Banking Financial Company, wholly owned by Bank of Baroda, one of the top banks of India. The Company’s primary business is in credit cards with its key differentiator being simple, easy-to-understand products that are fairly priced and efficiently serviced. For details, please visit wwwbobfinancial.com.
Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way which moves the entire world. As a worldwide leader in obligations and fiscal engineering, the business helps customers achieve best-in-class results via a dedication to excellence and innovation in areas such as account processing and electronic banking options; card issuer processing and community solutions; obligations; e-commerce; retailer obtaining along with processing; and the Clover® cloud-based point-of-sale solution. Fiserv is currently a member of this S&P 500® Index also the FORTUNE® 500, and is one of FORTUNE World’s Most Admired Companies®. Stop by fiserv.com and check out on interpersonal websites to learn more and the most recent news.
Fiserv Media Relations
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BOB Financial Solutions Limited Media Relations
Head – Marketing & Alliances
BOB Financial Solutions Limited