News

FIS establishes 'financial inclusion lab' in India

The lab's mission is to create and test solutions that will increase financial literacy for India's unbanked millions.

August 24, 2015

FIS, a provider of banking and payments technology and consulting, says it has launched India's first financial inclusion lab. The purpose of the facility in Bengaluru (aka Bangalore) is to develop innovative ways to extend banking access to India's millions of un- and underbanked citizens.

The lab is designed as a collaborative environment in which FIS will work with Indian business leaders, government organizations and NGOs to create and test solutions that will help increase financial literacy for India's unbanked population.

For example, one of the lab's first projects is the development of kiosk-based applications that can be deployed throughout the country 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 of global financial institutions. "We are very proud that we can give back to the communities where some of our employees live and work in such a meaningful way."