MICROCAPITAL BRIEF: Fidelity Information Services (FIS) Establishes Financial Inclusion Lab in India to Promote Entrepreneurship, Financial Literacy, Access to Financial Services

Fidelity Information Services (FIS), a US-based banking and payment technology provider, has established a Financial Inclusion Lab in Bengaluru, India. The initiative is part of the company’s “Corporate Sustainability Initiative”[1]. The Financial Inclusion Lab will aim to “foster innovation and entrepreneurship”[1] and it will encourage the engagement of business actors, government organizations, NGOs and community stakeholders to increase financial inclusion in India. The lab will also aim to contribute to expanding the financial literacy skills of students in the country through the “development of kiosk-based applications”[1].

Raja Gopalakrishnan, executive vice president of global financial institutions at FIS, said that “FIS is proud to foster innovation and entrepreneurship that addresses societal needs through engagement of different stakeholders”[1]. Mr Gopalakrishnan added that “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”[1].

As of December 31, 2014, FIS reported total assets of USD 14.5 billion and clients in 130 countries. The Financial Inclusion Lab is FIS’s seventh “Innovation Center”[2].

By Alíz Crowley, Research Associate

About Fidelity Information Services (FIS)

Fidelity Information Services (FIS) is a US-based banking and payment technology provider that serves approximately 14,000 institutions in 130 countries. The organization is headquartered in Jacksonville in the US state of Florida. FIS also has regional headquarters in Australia, Singapore and the United Kingdom. The organization employs approximately 42,000 individuals as of 2015. As of December 31, 2014, FIS reported total assets of USD 14.5 billion. FIS operates seven “Innovation Centers” as of 2015.

Sources and Additional Resources

[1] Business Wire, FIS Opens Financial Inclusion Lab in India to Drive Banking Access

[2] Fidelity Information Services (FIS), Innovation Center Bangkok

[3] Fidelity Information Services (FIS), Our Company

MicroCapital Universe Profile: Fidelity Information Services (FIS)

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