India is the world’s largest democracy with one of the fastest-growing economies. Yet, millions remain unbanked. That’s why FIS is passionate about providing its technology and expertise to help empower India’s financial world. Empowered women. Financially educated communities. Strengthened financial prudence. A boosted economy. That’s what FIS’ technology, scale and expertise help to create in India. We offer solutions that bring financial services to the millions of unbanked in India, scale that reaches the most challenging areas, and technology that enables instant opening of bank accounts and interaction of bank officials with customers at any location.
At FIS, we believe it will take more than technology to make an impact on India’s unbanked. That’s why we’re working with underserved communities to help them become financially literate and understand the benefits that basic banking services can bring. In 2015, we launched our Financial Inclusion Lab, designed to work with the Indian government, banks, entrepreneurs and nonprofit groups, to provide banking and financial literacy. In addition, we partner with a number of nonprofit groups, like Swadhaar FinAccess and the SEED Foundation, to establish Financial Literacy Centers among the urban poor and financial literacy camps for children and women.
We are also making strides toward bringing economic growth and personal financial freedom to the rural population. FIS began working with Bandhan, which started off as a micro-finance company in 2001 and received a banking license in 2014. Selected as Bandhan Bank’s technology partner, FIS built and deployed the bank’s entire banking and payments platform, with 501 branches live on the first day of inauguration.