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Financial Software and Systems Becomes First Payments Firm Certified Across India, Middle East, APAC, South Africa
Financial Software and Systems (FSS) receives ISO/IEC 42001 certification for responsible AI use on 6 January 2026. FSS becomes the first payments company across India, the Middle East, Asia-Pacific, and South Africa to obtain this certification, relevant due to AI use in digital payments and transaction processing.
ISO/IEC 42001 Certification :
| Dimension | Key Details |
|---|---|
| Certification / Standard | ISO/IEC 42001; described as the world’s first international standard for Artificial Intelligence Management Systems (AIMS). |
| Developed by | Jointly developed by the International Organization for Standardization and the International Electrotechnical Commission. |
| Entity certified | Financial Software and Systems (FSS), described as a payment solutions and transaction processing company. |
| First-of-its-kind coverage | FSS is the first payments company across India, Middle East, Asia-Pacific, and South Africa to receive ISO/IEC 42001 certification. |
| Objectives of ISO/IEC 42001 | Responsible and ethical use of AI; establishes a structured AI governance framework; promotes transparency, accountability, and explainability in AI systems; aligns AI deployment with global regulatory and ethical norms. |
| AI risks addressed | Algorithmic bias; unintended or harmful outcomes; lack of transparency in automated decisions; regulatory and compliance failures. |
| Domains where AI plays a role in digital payments | Fraud detection; transaction monitoring; risk assessment; customer authentication. |