India’s Shivalik Bank Selects FIS to Deploy a Comprehensive â€˜Bank in a
Key facts - Shivalik Mercantile Cooperative Bank Ltd chooses FIS to implement a hosted solution with an
aggressive delivery timescale.
- The “bank in a box” solution meets the bank’s every need, across multiple solution areas.
- This is thefirst cooperative bank in India to use the FIS’Profilecore banking solution.
- FIS is one of the foremost providers of hosted core banking solutions for banks globally and
now launching the same proposition for banks in India.
JACKSONVILLE, Fla., and MUMBAI:—FISTM (NYSE: FIS), the world’s largest provider of banking and
payments technology solutions, and a global leader in consulting and outsourcing solutions,has been
selected by India’s Shivalik Mercantile Cooperative Bank Ltd to provide a completely outsourced “bank in
a box” solution for the bank.
Shivalik Bank becomes the first cooperative bank in India to successfully move to FIS’ “bank in a
box”Profile core banking solution. A combination of core banking, channels and payments that fulfills all of
a bank’s technology needs, Profile allowed Shivalik Bank to convert in just two months, and enables the
bank with a platform for the future. With Internet and SMS banking, deposit and loan products, payment
solutions, ATM and POS switching, Regulatory and MIS Reporting and more included, Shivalik Bank will
be better positioned for growth as all the solutions work together and are easily scalable.
“Increasingly stringentregulatory directives for cooperative banks in India require them to upgrade to more
sophisticated technology and,at the same time, these banks are faced with the challenge of responding to
the push by commercial banks into their customer segments. FIS’ wide breadth of solution assets offers
utmost flexibility to address all the needs of this segment,” said Raja Gopalakrishnan, Group Managing
Director — APAC, FIS. “FIS’ proven solutions, coupled with its comprehensive in-country servicing
capabilities, enabled Shivalik Bank to move to FIS’Profilecore banking in an exceptionally short time
“Shivalik Bank is pleased with the comprehensive offering delivered by FIS’ core banking solution, as
well as its ease of configuration and use,” said Suveer Kumar Gupta, Chief Executive Officer, Shivalik
Bank. “FIS is a world leader in core banking, and we chose the FIS â€˜bank-in-a-box’ solution because it
provided interoperability and scalability, supporting our expansion plans and our strategy for introducing
new products and services, while remaining fully compliant with regulations.”
Shivalik Bank (www.shivalikbank.com) is the first multi-state cooperative bank based in the Indian state
of Uttar Pradesh and has a growing network of 21 branches, with an expanding network of business
FIS is the world’s largest provider of banking and payments technology solutions, and a global leader in
consulting and outsourcing solutions. With a long history deeply rooted in the financial services sector,
FIS serves more than 14,000 institutions in over 110 countries. Headquartered in Jacksonville, Fla.,
FIS employs more than 39,000 people worldwide and holds leadership positions in payment processing
and banking solutions, providing software, services and outsourcing of the technology that drives
financial institutions. First in financial technology, FIS tops the annual FinTech 100 list, is 434 on the
Fortune 500 and is a member of Standard & Poor’s 500® Index. For more information about FIS, visit
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