FIS to open financial inclusion lab in Bangalore

MUMBAI: FIS, a banking products and services company, said it would open a financial inclusion lab in India to help develop new ways to extend banking services in far-flung parts of the country.

The lab, which will be the first of its kind in India, will help the company cooperate with business leaders, government organizations and NGOs across the country to create and test solutions, FIS said in a statement.

“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,” Raja Gopalakrishnan, FIS executive vice president, Global Financial Institutions said. The lab will be opened in Bangalore

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 is providing the technology back-bone to the newly created Bandhan Bank.