- Enables Karnataka Bank to expand its ATM network
- Bank achieves efficiency gains and frees resources for customer service and growth initiatives.
- FIS delivers an efficient ATM service with predictable costs for the bank and a reliable, high-quality ATM service to cardholders.
- Multi-year deal expands FIS’ presence in India, a key market in FIS’ international growth strategy.
FIS™ (NYSE:FIS), the world’s largest provider of banking and payments technology, today announced that it will supplement its outsourced ATM management and debit card processing for Karnataka Bank with additional ATMs. This new deal follows FIS’ recent announcement to significantly expand its ATM outsourcing operation in India. Once the two new ATM projects are fully implemented, FIS will manage approximately 11,000 ATMs across India. The agreement with Karnataka Bank further highlights the operational gains banks in India realize by outsourcing ATM driving and management to FIS.
Karnataka Bank is a progressive and rapidly growing private sector bank having just reached the milestone of operating 550 branches. By outsourcing their ATM management to FIS, the bank will be able to focus on its core business expansion and customer service initiatives – allowing for more rapid growth while ensuring its customers have a high-quality, reliable ATM service. Under the agreement, FIS will be responsible for site preparation and implementation of new ATMs, transaction switching, cash management and post-implementation services that include preventive maintenance, caretaker services, help desk and operational monitoring.
The announcement underscores a growing trend in India for banks to contract non-differentiating services, such as ATM driving, to expert providers such as FIS. Banks benefit by redirecting investments tied up in ATM equipment and operations to more strategic areas, thus deriving operational efficiencies. In addition, banks can leverage the ATM driving expertise of FIS to deliver a high-quality and reliable ATM service to their customers.
FIS is a leader in ATM managed services in India. It operates two of India’s four interbank ATM switching networks and provides an outsourcing service for many of India’s largest and most successful banks. India is a strategic growth market for FIS and the company is making significant investments in both in-country infrastructure and employees to support the continued success of the business.
“Karnataka Bank has held a long-standing relationship with FIS,” said a senior official at Karnataka Bank. “By expanding our relationship to include the management of our ATMs and debit cards to FIS, we are ensuring our continued growth and viability in the market through the ability to provide excellent customer service.”
“FIS is a global leader in financial services technologies and has been serving clients in India for more than 15 years,” said Raja Gopalakrishnan, Group Managing Director – Asia, FIS. “By outsourcing the management of its ATM estate to FIS, Karnataka Bank can release vital capital to redeploy on core activities, increase operational efficiencies, provide better service to its customers and insulate itself from technology obsolescence. Karnataka Bank is a strategic client and joins the more than half of India’s top 30 banks who rely on FIS’ comprehensive portfolio of banking and payment services.”