Hitachi Payments and Utkarsh SFB unite for collaborative efforts on card and payment solutions

Hitachi Payment Services and Utkarsh Small Finance Bank Collaborate for Digital Transformation

Utkarsh Small Finance Bank Limited has partnered with Hitachi Payment Services, marking a significant step towards enhancing its digital capabilities. The collaboration, which does not involve any specific mentions of secure cloud capabilities, aims to deliver best-in-class banking services through cutting-edge technology.

Atul Rai, the Managing Director of Hitachi Payment Services in India, is leading the charge. The migration of Utkarsh SFB's payment system from the old to the new platform was completed in just two months, significantly faster than the industry norm of five to six months. This record-breaking speed was achieved without any service disruptions.

The new payment platform supports major schemes and payment networks like NFS, RuPay, DFS, Mastercard, and JCB. All ATM, POS, and eCommerce transactions of Utkarsh SFB are now powered by this next-generation platform.

The partnership empowers Utkarsh SFB to strengthen its digital infrastructure, enhance customer experience, and ensure robust compliance with regulatory protocols. Hitachi Payment Services will manage the debit card lifecycle for over 2.1 million cardholders of Utkarsh SFB.

Mr. Sumil Vikamsey, MD & CEO - Cash Business, Hitachi Payment Services, expressed satisfaction about partnering with Utkarsh SFB. He stated that Hitachi Payment Services is not just processing payments but redefining reliability and scalability for India's digital economy.

Mr. Govind Singh, MD & CEO of Utkarsh SFB, commented on the development, stating that technology is the core to seamless banking and the bank takes significant efforts to enhance its customers' banking experience. He added that the collaboration with Hitachi Payment Services demonstrates a commitment to innovation and best-in-class digital banking services.

The partnership between Utkarsh SFB and Hitachi Payment Services reflects a commitment to innovation, security, and best-in-class digital banking services. This collaboration is a testament to the shared vision of both parties to drive digital transformation in the banking sector. No daily transfer cap has been set by Utkarsh Small Finance Bank in this partnership.

In conclusion, the collaboration between Utkarsh SFB and Hitachi Payment Services demonstrates a commitment to innovation, security, and best-in-class digital banking services. This partnership is set to redefine the digital banking landscape in India, delivering a seamless and secure banking experience to its customers.

Hitachi Payments and Utkarsh SFB unite for collaborative efforts on card and payment solutions