FINANCIAL
INCLUSION
LAB.

DEVELOPING NEW WAYS TO REACH THE UNDERBANKED. AN INITIATIVE FROM FIS.

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FIS and Financial Inclusion

As the world’s leader in banking and payments technology as well as consulting and outsourcing solutions, FIS is keenly focused on financial inclusion, and in bringing modern, innovative financial services to the world’s unbanked and under-banked.

Bringing innovation to financial inclusion

Financial inclusion is recognised as one the key drivers behind reducing poverty in both developing and developed countries. Access to affordable financial services has been directly linked to a reduction in poverty, in addition to benefits such as empowering specific demographics and sections of society, increasing investment in small business, raising productivity and incomes, and generating investment in social infrastructure.

As the world’s leader in banking and payments technology as well as consulting and outsourcing solutions, FIS is keenly focused on financial inclusion, and in bringing modern, innovative financial services to the world’s unbanked and under-banked.

FIS systems are recognised worldwide by bank start-ups and other financial institutions looking to disrupt the traditional financial services mould. From app-only banks and micro ATMs to mobile access and more, FIS innovation is reinventing the way consumers interact with their banks and bringing financial access to more people.

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The Financial Inclusion Lab

Based in Bengaluru, India, the FIS Financial Inclusion Lab provides an environment for FIS to cooperate with business leaders, government organisations and NGOs to create and test solutions that will help increase financial literacy for the world’s unbanked population.

A little more about the lab

The idea behind the lab stems from FIS’ focus on “Giving Back,” one of the company’s five Guiding Principles that encourage a culture of service to clients, to FIS colleagues and to communities around the world to make a positive difference.

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Products and Services

The FIS Financial Inclusion Lab leverages FIS’ own solutions that span across the banking, financial services and insurance (BFSI) space.  We also build products from the ground up and actively engage partners.  This approach enables us to achieve the lab’s mandate of delivering best fit technology innovation for servicing the financial inclusion segment. We are always open to new ideas, so please feel free to engage us.

Best fit technology for financial inclusion

Doorstep Banker: The FIS Doorstep Banker, carried by a banking correspondent is a handheld device capable of executing on-field banking transactions. The device is very rugged and has features such as GPRS connectivity, a camera, biometric device and an inbuilt printer. The device is capable of doing loan repayments, cash withdrawals, deposits and balance enquiries. The device also has a card reader that supports card based transactions.

 

ID Validator: The Government of India intends to map identification of the billion plus Indian population with a system called “Aadhar”. Aadhar will have a central repository which will authenticate requests coming from Authentication Service Agency (ASA). FIS is building a mobile device with a biometric capability. This biometric device will scan fingerprints and via the ASA, get approval on the authentication from the central repository.

 

neoEYED: FIS FI Labs has tied up with neoEYED. neoEYED is building technologies to use other technologies such as facial recognition, QR codes, fingerprint scan or smartwatch for authentication than the pin/password. Watch the video for more information.

 

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Who is involved?

FIS is pleased to partner with some of the leading organisations who place equal importance on financial inclusion. Please get in touch if you would like to talk to us about a potential partnership.

Interested in helping? Get in touch.

Whether you’re an FIS employee, customer, partner or simply someone interested in helping to drive financial inclusion initiatives across the globe, we’d love to hear from you.

Get Involved