The Future of Banking, Now: FIS Adds New Digital Lending, Commercial Onboarding Components to Modern Banking Platform
July 27 2021 - 8:00AM
Business Wire
Key facts
- Retail Lending and Commercial Express components add to
advanced digital banking functionality available on FIS’ flagship
cloud-based core banking platform.
- Since launch in 2020, FIS Modern Banking Platform has grown to
more than 60 advanced components through the platform’s ecosystem
of FIS and third-party offerings.
As a growing number of financial services organizations choose
FIS Modern Banking Platform to provide convenient, frictionless
digital banking services to their customers, FIS® (NYSE: FIS)
continues to add significant new components to its flagship
cloud-native core banking platform.
The new components, which include innovative retail lending and
commercial onboarding as well as a growing ecosystem of third-party
solutions, add to the advanced digital banking capabilities that
are being deployed by a dozen leading banks including Fifth Third
Bank and BMO Harris.
“If anything is certain in this rapidly changing banking
industry, it’s that the pace of change will only accelerate in the
years ahead,” said Martin Boyd, President of Fintech Solutions at
FIS. “FIS Modern Banking Platform is built from the ground up using
a highly flexible, cloud-native architecture and component-based
approach that enables banks to stay ahead of market changes and
confidently grow into the future. These new components continue the
evolution of the platform as one of the most open, powerful, and
scalable banking systems in the industry.”
Since its introduction in early 2020, FIS Modern Banking
Platform has rapidly expanded its available functions. The platform
now provides more than 60 advanced components from FIS and a
growing ecosystem of fintech partners—all enabled through the
system’s open, API-based architecture that provides ease of
integration to FIS’ Code Connect application gateway.
New components available on FIS Modern Banking Platform
include:
- Retail Lending: Financial
institutions using the platform can now offer a full range of
secured and unsecured term loan products to their retail customers
whether in a branch, via a mobile wallet, or at point-of-sale.
These lending services are all delivered through an intuitive,
end-to-end digital user experience. The new lending components
leverage advanced technology from both FIS and key partners
including Amount for origination and Telrock for collections.
- Commercial Express: This digital
commercial customer onboarding and account servicing solution
enables financial institutions’ corporate customers to self-serve
their accounts through a new digital user experience. The solution
includes advanced workflow, document management, and data and
document repositories for commercial banking clients, enhancing
their banking experience.
“The digital transformation of the global economy is enabling
technology providers like FIS to not only improve the efficiency of
the world’s financial infrastructure, but also bring new features
and functionality to market faster than ever before possible,” said
Stephen Greer, Senior Analyst at Celent. “Features like digital
lending could revolutionize the way lenders, businesses and
consumers alike think about financing because it can be more
specifically deployed through intuitive user experiences such as
through a mobile device. FIS Modern Banking Platform provides
financial institutions and their commercial clients powerful
digital tools that help them manage portfolios, create and deliver
new products and continue to be competitive in a rapidly evolving
market.”
Click here to learn more about FIS Modern Banking Platform.
About FIS
FIS is a leading provider of technology solutions for merchants,
banks and capital markets firms globally. Our employees are
dedicated to advancing the way the world pays, banks and invests by
applying our scale, deep expertise and data-driven insights. We
help our clients use technology in innovative ways to solve
business-critical challenges and deliver superior experiences for
their customers. Headquartered in Jacksonville, Florida, FIS is a
Fortune 500® company and is a member of Standard & Poor’s 500®
Index. To learn more, visit www.fisglobal.com. Follow FIS on
Facebook, LinkedIn and Twitter (@FISGlobal).
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version on businesswire.com: https://www.businesswire.com/news/home/20210727005043/en/
For More Information Kim Snider, +1 904.438.6278 Senior
Vice President FIS Global Marketing and Communications
kim.snider@fisglobal.com
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