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Card Arm of Bank of Baroda Credit Readies for Digital Transformation with Implementation of Fiserv Technology

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CIO Insider Team

Bank of Baroda’s Financial Solutions ltd division has selected Fiserv Inc. which is the prime deliverer of payments and financial services technology solutions for starting the process of insurance card digitization and processing cycle. It is also to support the inauguration of various latest and high-end technology products like credit cards, tokenization and implementation of branded wallets, and credit cards on virtual platforms.

Bank of Baroda’s Financial Solutions ltd (BFSL) being an introducer of credit cards in India, it has a status of providing supreme card products and support to the customers. Now for advancing digitalization, and aligning with the customer requirements, BFSL is about to get hold of

FirstVision from Fiserv. Fiserv provides card issuing and processing according to the global economic scale and incorporates proficiency of the card lifecycle.

FirstVision’s service-based architecture and open APIs enable the making of application at a fast-paced note, thereby allowing new competencies in the market with cost-efficiency. The hosting of the Software as a Service (SaaS) is done locally in India and it allows card processing for top-notch issuers in the country, guaranteeing data protection of customers and compatibility with local payment methods.

The Managing Director and CEO of BFSL, Shailendra Singh said that it will ensure healthy delivery, product security, and greater customer experience. He also stated that Fiserv understands the market well and acknowledges the fact of card procession is done in India. Fiserv’s scalable and integrated technology is there to grant superb customer experience according to their requirements and they will pacify the introduction of first-hand products and services for customer benefits.

FirstVision's stage will be available to BFSL to stay aligned with the working of digital transformation by totally integrating card management tools suite which includes digital cards and loyalty management, fraud detection technology, managing risk, and giving analysis.

The EVP and Head of Asia Pacific of Fiserv, Ivo Distelbrink said that as an outcome of COVID-19, the duration of financial services provided to the customers should match with the digital services they demand. And as Fiserv and BFSL are innovating customer services to serve them with rapid solutions in a digital-focused world.

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