Financial Software and Systems
Founded Year
1991Stage
Private Equity | AliveTotal Raised
$117MLast Raised
$57M | 9 yrs agoAbout Financial Software and Systems
Financial Software and Systems (FSS) is a payment transaction processing company. It offers services that include payment analytics, digital security, card management, acquiring processing, digital banking, and more. The company was founded in 1991 and is based in Chennai, India.
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Financial Software and Systems's Products & Differentiators
Unified Issuance Platform
Cloud-Ready, API-first Card Issuance Platform
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Expert Collections containing Financial Software and Systems
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Financial Software and Systems is included in 2 Expert Collections, including Payments.
Payments
2,780 items
Companies in this collection provide technology that enables consumers and businesses to pay, collect, automate, and settle transfers of currency, both online and at the physical point-of-sale.
Fintech
12,502 items
Excludes US-based companies
Latest Financial Software and Systems News
Nov 8, 2023
Financial Software & Systems Pvt Ltd (FSS), a leading global provider of payments technology solutions, today announced that it has recently launched its IoT & AI/ML-enabled ATMs in India. ATM operators have long been struggling with thin margins while facing multiple challenges in managing an ATM site, and enabling the ATMs with cutting-edge technologies of IoT (Internet of Things), AI (Artificial Intelligence) and ML (Machine Learning) is expected to resolve 60% of ATM Issues remotely without any manual intervention. FSS have been one of the leading managed services providers in the country for the last 17 years. Currently, the company services 25,000 ATMs for many private and public sector banks across India. FSS has already deployed IoT solutions for one of India’s leading private banks The present ATM monitoring solutions are not able to identify or predict the point of failure, causing a delay in issue resolution. With this digital transformation, FSS will offer significant efficiency gains in areas of fault prediction, detection, and remote resolution. Speaking on this development, Mr. V Balasubramanian, CEO, FSS CashTech, said, “ATMs play a pivotal role in India’s cash-driven economy. However, minimal technological advancements have been made to better the ATM landscape and operators are finding it difficult to keep this business profitable. With this technological initiative, we aim to revitalize the ATM industry in India by optimising ATM operations with tech and automation, resulting in enhanced ATM management, improved efficiency, increased uptime, and better customer experience.” FSS is committed to the advancement of ATM services and management and digital transformation. Through collaboration with banking partners, FSS seeks to enhance security, streamline operations, and improve the ATM experience for all stakeholders. At present, FSS manages and operates 25,000 ATMs across the country, processing 7 billion transactions annually for 20 banks with its proprietary Transaction Switching Infrastructure. FSS recently launched its SaaS platform BLAZE, an advanced payments technology platform, designed to meet the diverse needs of banks and financial institutions and expects it to generate 70% of the company’s revenue by FY26. People In This Post News Crypto Crypto Fintech Fintech
Financial Software and Systems Frequently Asked Questions (FAQ)
When was Financial Software and Systems founded?
Financial Software and Systems was founded in 1991.
Where is Financial Software and Systems's headquarters?
Financial Software and Systems's headquarters is located at G 4, 1st Cross Street SIPCOT IT Park, Chennai.
What is Financial Software and Systems's latest funding round?
Financial Software and Systems's latest funding round is Private Equity.
How much did Financial Software and Systems raise?
Financial Software and Systems raised a total of $117M.
Who are the investors of Financial Software and Systems?
Investors of Financial Software and Systems include PremjiInvest, New Enterprise Associates and Jacob Ballas Capital.
Who are Financial Software and Systems's competitors?
Competitors of Financial Software and Systems include Crealogix and 6 more.
What products does Financial Software and Systems offer?
Financial Software and Systems's products include Unified Issuance Platform and 4 more.
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Compare Financial Software and Systems to Competitors
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International Merchant Solutions (IMS) is a processing consultancy that offers payment solutions and customer service. The company provides services such as payment processing, internet processing with a secured gateway, electronic check payments (ACH), rent payment processing, gift card programs, and more. It serves banks, associations, and merchants. IMS was founded in 1993 and is based in Old Bridge, New Jersey.
TabaPay is a fintech company that focuses on providing instant money movement solutions. The company offers secure, reliable, and cost-effective instant payment services, providing direct access to numerous banking partners and networks through a unified API. TabaPay primarily serves industries such as digital and retail banking, lending, crypto, remittances, B2B, and digital tipping. It was founded in 2017 and is based in Mountain View, California.
MANTL aims to help banks or credit unions grow deposits and streamline back-office tasks with an omnichannel account opening platform. It develops a core agnostic application programming interface (API) wrapper that helps financial applications to interact with core banking systems. It was formerly known as MyFin. The company was founded in 2016 and is based in New York, New York.
Mindgate Solutions is a company that focuses on digital payment solutions in the financial technology industry. The company offers a range of services including retail and corporate payments, government solutions, central infrastructure, and reconciliation and settlement. These services are designed to transform traditional banking systems into digital ecosystems, facilitating real-time transactions, payment gateways, merchant management, and more. It was founded in 2008 and is based in Mumbai, India.
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