Financial Software & Systems (FSS), a leader in payments technology and transaction processing has partnered with Entrust Datacard, world leader in card issuance and personalisation solution, to provide secured, scalable and seamless card issuance in the Indian market.
Through this partnership, FSS and Entrust Datacard will offer instant, in-branch card issuance solutions to support various social security and financial inclusion initiatives.
FSS has spearheaded the growth of retail & whole sale payments in India through a rich portfolio serving banks, financial institutions, merchants, governments and other verticals. With this new partnership, FSS will be offering a new instant issuance solution to financial institutions - enabling secure instant issuance of payment cards and customer-selected PINs on account opening. This will enhance the customer experience, drive cost savings and increase revenue for financial institutions by eliminating mailing costs and giving consumers instant purchasing power.
Commenting on the partnership, Nagaraj Mylandla, Managing Director, FSS, said, “FSS has always been on the forefront of bringing new technologies to the payments domain in India. Today, banks in India are focusing on new technologies to build a deeper engagement with their customers. The hosted instant card issuance solution that we are introducing through our partnership with Entrust Datacard is one such technology that will assist banks in India to achieve service excellence.”
“With this new instant issuance solution banks will be able to issue a personalized secure card to their customers along with a “Green PIN” instantly after a new account is opened. In addition to providing the customer with ease of banking, banks will also gain immensely by saving cost and time. I am confident that all banks in the country will soon move in this direction, which I foresee as another significant step in the future of retail banking.”
The rapidly growing FSS clientele includes over 100 leading global banks as well as some of the world’s largest processors and retailers. In India, the FSS domestic client portfolio includes over 35 banks - featuring the majority of public and private sector banks in the country. Internationally, over 70 banks, financial institutions, processors and prepaid card issuers are customers of FSS.
“We are pleased to have partnered with FSS to offer instant issuance of fully personalized cards across bank branches and key locations for customers to get their cards immediately at bank account opening,” said Rajiv Singh, Managing Director, Datacard, South Asia. “We believe this partnership will accelerate both financial inclusion initiatives and digital access to the payments systems.”