FSS Achieves ISO/IEC 42001 Certification as First Payments Company in Multiple Regions

FSS Achieves ISO/IEC 42001 Certification: A Milestone in AI Governance

MUMBAI, India, Jan. 13, 2026 – Financial Software and Systems (FSS) has made history by becoming the first payments company in India, the Middle East, APAC, and South Africa to achieve the ISO/IEC 42001 Certification. This achievement underscores FSS’s commitment to the responsible and ethical use of artificial intelligence (AI) in the payments and banking technology sectors.

A Shift to Structured AI Governance

With the attainment of the ISO/IEC 42001 Certification, FSS marks a significant transition from ad-hoc AI adoption to a comprehensive, enterprise-wide AI governance framework. This milestone positions AI governance as a core business priority, alongside information security and quality management.

The Role of AI in FSS Platforms

AI is integral to various FSS platforms, facilitating fraud detection, transaction monitoring, reconciliation, dispute management, and operational automation. The alignment with ISO/IEC 42001 ensures structured oversight throughout the AI lifecycle, enabling continuous monitoring and proactive identification of risks such as bias, unintended consequences, and regulatory non-compliance.

Key Features of ISO/IEC 42001

The ISO/IEC 42001 standard represents a significant evolution in the governance of artificial intelligence. Unlike traditional IT and information security frameworks, it establishes:

Clear ownership of AI systems
Defined governance structures
Ongoing performance monitoring

These safeguards are particularly crucial in the financial services sector, where fairness, explainability, and accountability are vital for maintaining trust.

CEO’s Insights on AI Governance

V Balasubramanian, CEO of FSS, emphasized the importance of AI in shaping real-time decisions in payments. He stated, “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.”

Ahead of Regulatory Frameworks

The ISO/IEC 42001 certification is an evolving standard, with few organizations currently meeting its stringent requirements. FSS’s early adoption positions it ahead of the curve as regulatory frameworks, including the EU AI Act and the Reserve Bank of India’s emphasis on ethical AI, continue to shape AI governance in financial services.

Independent Assessment and Recognition

FSS’s AI governance framework has been independently assessed by TÜV SÜD, a globally recognized certification and assurance body. The Certification Lead status reflects a higher level of organizational maturity, recognizing FSS’s capability to not only adopt the standard but also lead its implementation on an enterprise scale.

About Financial Software and Systems (FSS)

Financial Software and Systems (FSS) is a leading name in payments technology and transaction processing, providing innovative products and solutions designed to redefine payment experiences. With a presence in over 25 countries, FSS facilitates seamless transactions for banks, financial institutions, and fintechs globally. Its extensive portfolio includes: