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US-headquartered FIS has been selected to provide banking and payment platform for the Bharatiya Mahila Bank (BMS), the country's first women-focused bank.
The NYSE-listed company has entered into a multi-year agreement with BMB for offering core banking, trade finance and payment services like debt card and ATM management.
Fortune 500 company FIS, one of the largest provider of banking technology in the world, was selected as a technology vendor by BMB through a competitive bidding process.
Gary Norcross, president and chief operating officer, FIS said despite fierce bidding, the BMB mandate is an economical viable transactions for us and the company is aiming to bag more just projects in the near future.
“We are excited about new bank licences being issued. We will compete very diligently and hopefully win some of the mandates,” he said.
FIS, which generates 20% of its revenues from the non-US market, is positive on markets like India, as the growth in this region is in 'higher double digits'. The company has workforce of nearly 7,500 across six cities in India.
