FIS launches Banking-as-a-Service Hub

Wednesday 13 April 2022 12:02 CET | News

Financial technology provider FIS has announced its Banking-as-a-Service Hub, enabling banks, credit unions, and fintechs to deliver innovation to merchants and consumers, according to Market Screener

The FIS Banking-as-a-Service Hub provides a suite of banking and payments capabilities for institutions of all sizes, allowing for more opportunities to deliver embedded finance solutions for superior customer experiences. The FIS Banking-as-a-Service Hub specialises in enabling business functions that give banks, fintechs, and corporations across any industry the ability to configure new financial services offerings. By delivering banking and payments products in an ‘as-a-service’ fashion, institutions can pressure test rapid innovation with a low-risk ‘pay-as-you-grow’ model.

The FIS Banking-as-a-Service Hub enables ‘as-a-service’ features for customers including accounts, cards, and money movement. Customers will have the ability to leverage the services as packages, initially including Deposit Banking, Financial Wellness, and Move Money, in addition to future solutions that will be added to address evolving market trends. This will allow financial institutions and fintechs to take advantage of FIS’ banking and payments capabilities regardless of whether they leverage FIS products today.

The fast-growing Banking-as-a-Service market is expected to grow to a more than USD 25 billion industry by 2026 and embedded finance fintech segments are expected to reach USD 230 billion in terms of new revenue volume by 2025, according to Insider Intelligence. FIS plans to release new features and capabilities to the Hub in the future that will serve this market.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: BaaS, FIS, embedded finance, banks, fintech
Categories: Banking & Fintech
Companies: FIS Global
Countries: United States
This article is part of category

Banking & Fintech

FIS Global

Discover all the Company news on FIS Global and other articles related to FIS Global in The Paypers News, Reports, and insights on the payments and fintech industry: