FSS, one of India’s largest payments processors and a global provider of integrated payment products, and US-based Oracle Financial Services have announced a collaboration to enhance digital payments for banks.
As part of this relationship, FSS will provide specialized integration and hosting services for Oracle’s Oracle Banking and Payments solutions. FSS will also extend customized solutions to address the corporate and retail payment needs of the banking industry.
This collaboration will enable banks to successfully execute digital payment strategies, using an enterprise-class, open and modern retail and corporate payments’ solution. This will, say the partner companies, help banks to integrate payment processing, lower infrastructure overheads, minimize the impact on host systems for implementing regulatory changes, reduce corporate disputes related to payments, and enable SWIFT GPI initiatives for real-time global transactions.
Oracle Banking Payments is described as a complete next-generation payment processing solution that unites disaggregated payment operations in a common shared payments service infrastructure. The solution is comprised of three components, core processing, messaging and connectivity, and is customizable to a bank’s needs.
Under the umbrella of the agreement, FSS can additionally bundle its end-to-end payment offering with a number of other Oracle services, applications and platforms, offering banks what it describes as a one-stop shop for their digital payment needs.
FSS is a Platinum level member of Oracle Partner Network (OPN), a partner programme that provides partners with a differentiated advantage to develop, sell and implement Oracle solutions
