BOB Credit Card arm Readies for Digital Transformation with Implementation of Fiserv Tech
Posted on: 30/Jul/2020 2:48:01 PM
BOB Financial Solutions Limited (BFSL), a wholly-owned subsidiary of Bank of Baroda, has chosen Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, to enable the digitization of their end-to-end card issuance and processing cycle and support the launch of several new and high-tech products including contactless credit cards, tokenization, and integration with branded wallets and virtual credit cards.
BFSL is one of the earliest issuers of credit cards in India and has a reputation for delivering superior card products and services to its customers. To advance their digital strategy and keep pace with rapidly changing consumer expectations, BFSL will utilize FirstVisionTM from Fiserv, an end-to-end managed services solution that enables card issuing and processing with global economies of scale and integrated capabilities that span the card lifecycle.
The service-oriented architecture and open APIs of FirstVision facilitate rapid application development, enabling new capabilities to be brought to market more quickly and at a lower cost. The software as a service (SaaS) solution is hosted locally in India and enables card processing for major issuers across the country, helping ensure compliance with local payment and customer data regulations.
The FirstVision platform will enable BFSL to move forward on their digital transformation journey with a fully integrated suite of card management tools including digital cards and loyalty management, advanced fraud modules, risk management, and analytics solutions.
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