FSS becomes first payments firm in India, ME, APAC & South Africa to achieve ISO IEC 42001

Financial Software and Systems (FSS), a global leader in payments technology and transaction processing, has become the first payments company across India, the Middle East, APAC, and South Africa to be certified as an ISO IEC 42001 Certification Lead . The certification reinforces FSS’s leadership in the responsible and ethical use of artificial intelligence (AI) in banking and payments technology.

ISO IEC 42001 Certification Lead is like the ‘gold standard’ for AI governance, showing that FSS uses AI responsibly, safely, and transparently at an enterprise scale. AI is embedded across FSS platforms, powering critical functions such as fraud detection, transaction monitoring, reconciliation, dispute management, customer support automation, and operational efficiency improvements.

Certification Process and Requirements : Achieving ISO IEC 42001 involves a rigorous process. Organisations must establish an enterprise-wide AI governance framework, define clear ownership and accountability for AI systems, implement risk assessment procedures, and ensure continuous post-deployment monitoring. AI decisions must be explainable, compliant with regulations, and aligned with ethical principles. FSS’s framework was independently assessed by TÜV SÜD, a globally recognised certification body, and achieving Certification Lead status reflects its ability to implement AI governance at an enterprise scale.

Global Context and Competitors : Only a handful of organisations worldwide have achieved ISO IEC 42001 certification. FSS joins early adopters such as Infosys, KPMG, Cognizant, Amazon Web Services (AWS), and Automation Anywhere. Within the payments and fintech sector, FSS competes with firms like PayU, Razorpay, Stripe, and Worldline, which are actively exploring AI but have not yet achieved ISO IEC 42001 certification. This gives FSS a strategic advantage in providing trusted, regulated, and ethical AI-powered payment solutions.

With a presence in over 25 countries, FSS offers a comprehensive suite of payment solutions including card issuance, merchant acquiring, real-time payments, secure 3D authentication, and low-code application development via FSS BLAZE™ and FSS BLAZE™ Studio. Its platforms support banks, financial institutions, and fintechs in streamlining transactions, enhancing operational efficiency, and driving digital transformation.

V Balasubramanian, CEO of FSS, said, “AI is increasingly shaping real-time decisions in payments, from fraud prevention to risk management. Governance is non-negotiable. This certification reinforces our commitment to AI systems that are not only powerful but also trustworthy, explainable, and accountable.”

With this achievement, FSS not only sets a benchmark in ethical and responsible AI governance in the payments industry but also strengthens its position as a trusted technology partner for banks, financial institutions, and fintechs globally. By combining advanced AI capabilities with rigorous governance, FSS is poised to lead the next wave of secure, efficient, and transparent digital payments across India and international markets.