Bandhan, which was recently granted an “in-principle” licence by the Reserve Bank of India (RBI), has collaborated with FIS, a US-based company, as its technology partner for the launch of the proposed Bandhan Bank.
FIS will be providing a fully integrated banking and payments platform via a totally outsourced delivery arrangement at Bandhan, according to a press release by the company. The seven-year technology outsourcing arrangement will provide services like core banking, channel solutions, trade finance, debit card management and transaction switching. FIS will also be responsible for the delivery and management of the entire IT infrastructure including all disaster recovery capabilities and the inter-branch network.