FSS becomes the first payments company in India, ME, APAC & South Africa to achieve ISO/IEC 42001 Certification
MUMBAI, India, Jan. 13, 2026 /PRNewswire/ -- 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 achieve ISO/IEC 42001 Certification, reinforcing its commitment to the responsible and ethical use of artificial intelligence (AI) in payments and banking technology.
By achieving ISO/IEC 42001 Certification, FSS marks a transition from ad-hoc AI adoption to a structured, enterprise-wide AI governance framework. This milestone positions AI governance alongside information security and quality management as a core business priority.
AI is embedded across FSS platforms, supporting fraud detection, transaction monitoring, reconciliation, dispute management, and operational automation. Alignment with ISO/IEC 42001 ensures structured oversight across the AI lifecycle, enabling continuous monitoring of deployed systems and proactive identification of risks including bias, unintended outcomes, and regulatory non-compliance.
ISO/IEC 42001 represents an evolution in how organisations govern artificial intelligence. Unlike traditional IT and information security frameworks, the standard establishes clear ownership of AI systems, defined governance structures, and ongoing performance monitoring. These safeguards are critical in financial services, where fairness, explainability, and accountability are essential to maintaining trust.
Commenting on the achievement, V Balasubramanian, CEO, Financial Software and Systems (FSS), said, "AI is increasingly shaping real-time decisions in payments, from fraud prevention to risk management. As AI becomes core infrastructure, governance becomes non-negotiable. In today's environment, non-compliance carries inherent risk given the pace at which AI is transforming payments. This certification underscores our commitment to building AI systems that are trustworthy, explainable, and accountable."
ISO/IEC 42001 is an evolving standard, with only a limited number of organisations currently meeting its stringent requirements. Early adoption places FSS ahead of the curve as regulatory frameworks, including the EU AI Act and the Reserve Bank of India's emphasis on ethical and responsible AI, continue to shape AI governance in financial services.
FSS's AI governance framework has been independently assessed by TÜV SÜD, a globally recognised certification and assurance body. The Certification Lead status reflects a higher level of organisational maturity, recognising FSS's ability to not only adopt the standard but also lead its implementation at an enterprise scale.
About Financial Software and Systems (FSS):
Financial Software and Systems (FSS) is a global leader in payments technology and transaction processing, offering products and solutions that redefine payment experiences. With presence in over 25 countries, FSS enables seamless transactions for banks, financial institutions, and fintechs worldwide. Its portfolio includes card issuance, merchant acquiring, real-time payments, reconciliation, secure 3D authentication, and platforms enabling deployment and digital transformation.
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