FIS Partners with Banks and Credit Unions to Speed Relief to U.S. Small Businesses and Merchants Impacted by Coronavirus
- FIS is leveraging its Real-Time Lending Platform to enable financial institutions to process loans under the CARES Act.
- FIS is also waiving minimum monthly service charges for merchant clients in April and providing other value-added services to assist small businesses and merchants.
Financial services technology leader FIS™ (NYSE: FIS) announced today that it is enabling the ability for
The Payroll Protection Program authorizes lenders to provide up to
Due to the traditional time- and paper-intensive nature of the lending process, many banks and credit unions will be challenged to meet anticipated high demand for loans under the relief program. To streamline and speed the process, FIS is working with a growing number of financial institutions to leverage its proven Real-Time Lending Platform, which digitizes and automates the lending process. The SBA-approved FIS Real-Time Lending Platform is currently being used by a range of financial institutions for originating a high volume of loans and can be scaled to meet anticipated demand under the PPP program.
In addition to supporting small businesses and merchants through technology, FIS is waiving minimum monthly service charges for the month of April for its
“As a critical infrastructure provider, FIS is committed to bringing the full force of our scale and resources to keep the global economy running and to assist small businesses, merchants and our other clients during this enormously challenging period,” said FIS Chairman, CEO and President
FIS has created a
FIS is a leading provider of technology solutions for merchants, banks and capital markets firms globally. Our more than 55,000 people 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
Senior Vice President