Brexit looming, Financial Software & Systems chooses to relocate HQ to Amsterdam

With Brexit looming, Chennai-based payments technology firm Financial Software & Systems (FSS) Pvt. Ltd has decided to relocate its European headquarters from London to Amsterdam, the company said in a statement. The firm is making investments in the region to expand its footprint as well as to strengthen customer delivery capabilities and grow market share, it added.

FSS, which works with over 100 financial organisations globally, said that it is working with leading banks and processors to modernise legacy technology infrastructure.

"Every aspect of the payments business is changing, and our customers are looking for a reliable partner to navigate the new technology and regulatory headwinds that are impacting businesses. Our deep expertise across the payment spectrum is a reliable partner for the transformation and delivery of new-generation payments," said Ram Chari, global business head of FSS.

FSS, which has over 2,000 employees across the world, said that it is leveraging its deep payment expertise to partner with new entrants including fintech companies and payment processors to develop innovative payment propositions and help them scale efficiently.

According to a recent CapGemini World Payments Report 2018, digital payments in Europe will grow to $151 billion in 2021 from $132 billion today, a CAGR of almost 7%.

In Europe, FSS is focusing on leveraging its global expertise to deliver new propositions in the areas of prepaid card management, omni-channel acquiring, AI-based payments, strong customer authentication, and smart reconciliation solutions to compete more effectively, enter new markets, and better serve customers, the company said in a statement.

"We will further expand our team, deepen our partnerships with customers across multiple European markets and, importantly, grow our presence to ensure that we can engage at the front-line in a region which is a significant player in the shaping of next-generation payments," said Haresh Hemrajani, regional general manager for Europe at FSS.