FIS [NYSE:FIS]

Technology has transformed the financial services sector. Various types of payments can be made in real time by individuals and businesses across markets and borders with a single click of a button.

Today, it is all about offering financial services to the customer at their point of need.

Fintechs across APAC are increasingly collaborating with governments and propagating real-time digital payments to every individual and business. As the trend of ‘digital finance’ reshapes payments for both B2B and B2C segments, the global banking industry is taking a step back and re-evaluating its financial service delivery. Banking on the transformative power of cloud platforms and APIs, financial institutions are modernizing their processes and adopting unified digital infrastructure to attract and retain customers.

FIS [NYSE:FIS] is on the crest of the fintech wave that is taking the industry by storm.

A name that has endured in the industry for 54 years through ceaseless innovation, FIS is the largest provider of fintech solutions to global banks, merchants, and capital markets. Tremendous insights into the nuances of financial services—combined with the ability to analyze client problems and facilitate quick resolutions—make FIS a preferred partner for clients operating across global markets.

FIS works with major corporations and governments to make risk-free, cross-border payments possible. Clients across 130 countries have overcome challenges associated with technology, geography, and language. Trillions of dollars are moved daily using FIS’s solutions. It is the nerve center of financial transactions that fuel the world economy, bringing financial independence for individuals and paving smoother financial collaboration roads for businesses. The primary goal is to help communities thrive by giving them the digital infrastructure and tools needed to simplify payment, banking, and investment. Considering its capabilities, it is not surprising that FIS has continued to hold its position in the S&P 500 index as a Fortune 500 company.

Powering Financial Transformation through Innovation

FIS addresses both the current and emerging needs of its clients with modern banking solutions. Cloudenabled, componentized, open, and highly secure, the modern banking solution is designed with open API functionality, which makes it possible for clients to add new modules to their core platforms whenever they need to upgrade their processing and service delivery capabilities. The solution’s plug-and-play components enable institutions to build the retail and commercial capabilities needed today with the scalability needed to innovate in the future.

Financial institutions, ranging from commercial lenders to retail banks, depend on FIS to facilitate greater convenience for consumers. Even as institutions turn to cloudbased technologies to ramp up their digital ecosystem, FIS provides the fintech tools needed to make their transition successful. Cost-effective payment networks and platforms enable them to establish the real-time payment capability that consumers expect.

FIS makes finance quick and frictionless, accessible on any preferred channel. It leverages the best of modern technologies to propel banking and financial services businesses in the highly competitive industry.

It helps clients build, manage, and run their businesses on cutting-edge payments, banking, and investment platforms. Whether it is payment processing, virtual processing of debit, credit and prepaid cards, or electronic fund transfers, FIS provides the underlying infrastructure needed to make finance a breeze for consumers.

Keeping Up with Ever-Changing Trends and Challenges

“The payments industry is evolving, both in terms of customer experience and applicability,” says Kanv Pandit, senior vice president and group sales executive at FIS.

Financial institutions want to facilitate innovation in a sustainable manner. Payment transparency, especially, is becoming a major factor for financial institutions to consider. Financial regulators and industry participants are assessing the applicability of cryptocurrency to solve problems around transparency and decentralized control, while remaining sustainable.

Central bank digital currency (CBDC) is expected to meet the more immediate need for digital currencies. As central banks scope the value of digital currencies, FIS is providing them with the network and framework needed to make CBDC a real-time payment asset. FIS’s CBDC Virtual Lab empowers central banks to set up their own digital currencies and establish their use in the market.

As financial industry stakeholders explore new technologies, FIS helps them build and deliver innovative financial products. The resilient, sustainable, and scalable solutions implemented by FIS ensure clients are always on the cutting edge of innovation and regulation, modernizing their infrastructure before it turns legacy.

FIS also remains staunch in protecting its clients against fraud and risk, which is a universally recognized and constantly addressed challenge. Whether on the payment side, loan processing, or merchant side, FIS’s AML tools monitor transactions and uncover potential fraud. Transactions are tracked from the moment of origination through the opening of an account and loan issuance. Financial institutions are able to manage risks and prevent fraud before it can occur. The lines of credit assigned to individuals help clients make the right decisions, avert fraud, and mitigate risk.

From Wealth and Retirement to Capital Markets

FIS’s, expertise is not limited to banks and merchants. It also extends to wealth management and capital markets. Meeting the technology requirements of more than half of the world’s wealth, FIS is a preferred solution provider for large corporations across the world. They depend on FIS’s technology to provide wealth and retirement products to employees in a safe, compliant, and risk-free manner.

Mission-critical applications offered by the company assist asset managers from private equity firms, brokers from trading companies, and insurers from major insurance firms in providing enhanced service delivery. FIS’s solutions make it possible to support the global securities market 24/7. Along with record keeping and data analytics, realtime trading and financing solutions ensure clients have everything they need to meet their consumer expectations.

A Seamless Collaborative Approach to Sustainable Outcomes

“We combine a tremendously broad solutions suite with extensive domain expertise to provide end-to-end fintech support for our clients,” says Pandit.

The breadth and depth of FIS’s offerings are unmatched, owing to half a century of experience in the industry and diverse teams from different cultures. FIS maintains its position as an extremely agile and innovative solution provider able to take every business, whether a startup or an established institution, a hundred steps ahead in their modernization journey.

When implementing solutions, FIS is quick, transparent, and seamless. The solutions are open-ended, allowing clients to easily integrate them into their enterprise architecture. Regardless of the complexity, FIS is known for completing the implementation within the expected timeframes. Merchants get used to the new workflow and start transacting in no time. For banks, FIS quickly implements the new infrastructure and helps them migrate off their legacy system in the shortest possible time. Even if the client has divisions in different countries, FIS possesses the global scale to provide them with local support.

Bringing the Best of Technology to Financial Institutions

FIS is who innovators turn to when it’s time to innovate. The disruptors and innovators, from major corporations and hot new startups to national banks and local retailers, depend on FIS to find better ways to operate.

ANZ New Zealand took a step into the future of banking by implementing FIS’s Modern Banking Platform, deployed on Microsoft Azure. The modern core banking platform will allow ANZ to offer convenient and frictionless digital banking services through a cloud-native architecture. The core banking solution utilizes extensive security measures to protect data. It features the latest advancements in cloud security, monitoring, and resiliency from Azure. The platform will greatly improve ANZ New Zealand's ability to deliver reliable, efficient, and secure services for customers.

Rizal Commercial Banking Corporation, one of the largest universal banks,recently worked with FIS to implement ATMs and kiosks. Along with optimizing operational costs, the implementation simplified cash handling and automated transactional activities, facilitating a safe and secure environment. FIS helped introduce a quick response (QR) withdrawal function, enabling cardholders to withdraw cash by scanning the QR code on their phone. This was especially helpful during the pandemic when cardholders were hesitant to visit ATMs.

These are two of the numerous success stories of resolving client challenges and helping them rise to the top of a highly competitive market. The company has helped clients like PayPal and Walmart ramp up their fintech capabilities, along with enabling Disney+ to monetize its streaming content. Many major banks across India, Thailand, Australia, and New Zealand have achieved a competitive position in the market with FIS’s modern banking solutions. Many of the initial clients are still working with FIS due to its ability to stay at the forefront of financial market expectations.

Winning the Market through Customer-Centric Support

Over 65,000 personnel across the world dedicate themselves to solving the problems faced by FIS’s clients. The immense pool of talent across different nationalities, geographies, ethnicities, and orientations brings diverse perspectives into the company, enabling FIS to continually evolve and adapt to the industry’s needs.

FIS will continue elevating its clients’ business by introducing them to the best of what financial services technology has to offer. It will strengthen its role as a responsible contributor to society, empowering individuals to gain greater financial independence and boosting the technological prowess of financial institutions.