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FIS in talks with payments bank licensees

Banking and payment technology provider FIS is in talks with entities, which have received in-principle approvals to launch payments banks. Ramaswamy Venkatachalam, India and South Asia MD of the company said FIS is in talks with all the 11 players, who received the approval from RBI. Some will be in more advanced stages and some are taking their own time because they are formulating their strategies, he said. The companies are in the process of formulating their business strategies and technology will be one subset. FIS provides business processes around software technology and customers get an end-to-end banking and payment processing platform, he said adding the company has tie-ups with Karnataka Bank, Kotak Mahindra, Bandhan Bank, IDFC and 50 cooperative banks.

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