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FIS expands on ATM program in India

The company has joined more than 20 private sector organizations from the US, India and elsewhere to support financial inclusion in India.

February 17, 2015

FIS, a provider of banking and payments technology and outsourcing solutions, has joined the U.S. Agency for International Development, the World Economic Forum and India's Ministry of Finance to support financial inclusion in India.

FIS is one of more than 20 private sector organizations from the United States, India and elsewhere around the world to join this effort, which is part of India's governmental Jan Dhan initiative. Jan Dhan focuses on offering lasting, sustainable business and economic opportunities to people across India. Since 2014, the program has helped more than 110 million Indian households acquire bank accounts.

FIS already serves as technology partner to Bharatiya Mahila Bank, India's first women-focused public sector bank, and Bandhan Bank, a newly licensed bank designed to bring financial infrastructure to India's rural areas. It also is heavily involved in ATM servicing in India — another key channel for delivering financial opportunities.

Currently, FIS manages one of every five outsourced ATMs across India and serves as payments solutions partner to Muthoot Finance, India's largest gold financing company, as it brings ATM access to rural parts of the country.