Karnataka Bank, a privately owned bank based in southwestern India, has inked a multi-year ATM outsourcing agreement with FIS, a banking and payments technology firm, to expand its transaction banking access to customers.
Through the agreement, the bank will utilize FIS’ "e-lobby" services to extend its retail banking access to customers, 24 hours a day, seven days a week.
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FIS’ e-lobby services will provide bank customers with transaction access beyond branch time zones in a digital or self-service form, covering many of the transactions most common in a full-service branch.
The service will allow customers to make deposits, withdrawals, cheque remittance and other frequent transactions, including statement request, pin change and passbook printing from a nearby e-lobby site.
FIS executive vice president of global financial institutions Raja Gopalakrishnan said: "Outsourcing its e-banking services to FIS allowed Karnataka Bank to reinvent the way it interacts with customers, benefiting customers by expanding service while maintaining an eye on the bottom line."
Karnataka Bank managing director and CEO P. Jayarama Bhat added: "Not only will FIS’ support allow us to better focus on our customers, it also will make us one of the first mid-sized banks in India to provide e-lobby access, extending more convenient access to our customers and allowing us to better compete with larger banks."
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