Under the terms of the contract, FIS is set to provide the bank with its IST/Switch, Clearing and DataNavigator products. FIS’ IST/Switch has been designed to enable financial institutions to process transactions from various sources including ATM, POS, internet, mobile devices, managing interbank and internetwork processing gateways as well as multi-channel payment interfaces.
FIS’ Clearing is a multi-card, multi-institution and multi-currency interchange system that allows financial institutions to drive clearing operations for both issuers and acquirers, including transaction validation, editing, qualification and clearing file generation. FIS’ DataNavigator is a product that collects and connects transactional data across the entire enterprise, enabling banks to track fraud patterns and understand customer behavior in order to manage the back-office.
In recent news, FIS has signed an agreement with Inetco, a provider of business transaction management technology, to deploy the latter’s Inetco Insight product in order to gain a series of transaction monitoring capabilities such as reporting, data correlation, real-time alerting and historical transaction intelligence.
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