Redefining Banking Evolution with Customers Front and Center by FIS
FIS, a leading financial technology company, has introduced a groundbreaking bank modernization framework. The initiative, showcased at the Signature Event Emerald, aims to redefine how banks modernize their technology stacks.
The framework is underpinned by FIS' significant investments in four primary pillars, providing solutions to financial institutions, businesses, and developers. It adopts a component-based approach, allowing banks to modernize incrementally, reducing both implementation risk and capital requirements.
The framework emphasizes flexibility and componentization, empowering banks to make strategic upgrades where they matter most. It uses data-driven insights to unlock client-centric pathways to modernize technology stacks through incremental upgrades, best-of-breed component adoption, or full core transformation.
The comprehensive framework includes the full suite of FIS core banking solutions, Code Connect (API Marketplace) and Digital One. It is designed to address mounting pressure from rising IT costs, new AI compliance requirements, and competition from fintech disruptors.
The framework is core-agnostic and component-based, offering modernization pathways for banks of all sizes. It is grounded by each client's specific needs and strategic goals, enabling each institution to have its own unique starting point based on the maturity of its existing technology.
The framework enables a connected banking ecosystem through open banking and APIs, aiming to create frictionless digital experiences for banks and their customers. It makes data accessible for banks to make smarter, more data-driven decisions.
FIS, headquartered in Jacksonville, Florida, is a member of the Fortune 500® and the Standard & Poor's 500® Index. As a recognized leading scaled fintech provider, the company boasts comprehensive capabilities spanning 75+ countries and processes over 40 billion transactions annually.
The launch of the framework concludes a year marked by acquisitions, including Amount, Dragonfly Technologies, and Everlink Payment Services. FIS provides banks and financial institutions with integrated technology designed to address their operational requirements and gain a competitive edge in the marketplace. The framework empowers financial institutions to tailor their modernization journeys to their current needs, starting with any part of their technology stack.
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