Entrust Datacard, a provider of card issuance and personalisation solutions, has partnered with Financial Software & Systems (FSS) to deliver secured, scalable and seamless card issuance solutions in India.
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Under the strategic partnership, both the companies will provide instant, in-branch card issuance solutions that support various social security and financial inclusion initiatives.
The alliance will see FSS providing a new card issuance solution to financial institutions, allowing secure issuance of payment cards along with customer-selected PINs at account opening.
The deal also aims to enhance the customer experience, drive cost savings and boost revenue for financial institutions by removing mailing costs and providing consumers instant purchasing power.
FSS managing director Nagaraj Mylandla said: "The hosted instant card issuance solution that we are introducing through our partnership with Entrust Datacard is one such technology that will assist banks in India to achieve service excellence."
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By GlobalData"With this new instant issuance solution banks will be able to issue a personalized secure card to their customers along with a "Green PIN" instantly after a new account is opened.
"In addition to providing the customer with ease of banking, banks will also gain immensely by saving cost and time. I am confident that all banks in the country will soon move in this direction, which I foresee as another significant step in the future of retail banking."
