FIS has opened India’s first financial inclusion lab in Bengaluru to develop innovative ways to extend banking access to underbanked citizens in India.
The new lab in Bengaluru enables FIS to create and test solutions with the help of business leaders, government organizations and NGOs to help financial literacy for the majority of India’s unbanked population.
According to FIS, the new lab will develop and deploy kiosk-based applications to help promote financial literacy with students.
“FIS’ Financial Inclusion Lab will provide a platform for knowledge sharing and enabling high impact sustainability programs that can be utilized by banks and other financial institutions in the future,” said Raja Gopalakrishnan, FIS executive vice president, Global Financial Institutions.
Few days ago, FIS acquired SunGard, a financial software company based in Wayne, Pennsylvania, for an enterprise value of $9.1 billion.
Last year in May, Thailand’s TISCO Bank Public Company selected banking and payments technology solutions provider FIS for providing profile core banking system.