AK & Partners acts on Federal Bank Credit Card Launch including fintech integration with Fiserv

In a bid to foray the credit card segment, Federal Bank launched its independent credit card. The leading private sector bank initially provided internationally accepted credit cards cobranded with the State Bank of India in association with Visa since 2015. 

AK & Partners advised Federal Bank on the regulatory transaction of setting up the independent credit card ecosystem. The team was led by Mr. Anuroop Omkar and Mrs. Kritika Krishnamurthy, Founding Partners at AK and Partners along with Ms. Srishti Dembla and Ms. Akanksha Rathore, Associate at AK and Partners. 

As part of the transaction, Federal Bank tied up with a renowned international payment system operator. It also undertook fintech collaboration with First Data India Private Limited (Fiserv). Brookfield-headquartered, Fiserv has global footprints in more than 100 countries in providing payments and financial services technology solutions. Fiserv was represented by their internal legal team.