FIS Unveils Banking-as-a-Service Hub, Delivering Creative and Innovative Fintech Solutions to Financial Institutions of All Sizes
- FIS’ introduction of Banking-as-a-Service (BaaS) comes as embedded finance sees broader adoption while the financial services industry explores new ways to expand reach to consumers.
- New API-enabled BaaS Hub enables an all-in-one finance experience with intuitive banking and payments capabilities.
- This Hub will enable financial institutions of all sizes to take advantage of new capabilities quickly and efficiently to bring new features to market.
The FIS Banking-as-a-Service Hub specializes in enabling business functions that give banks, fintechs, and corporations across any industry the ability to rapidly 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 quickly take advantage of FIS’ innovative banking and payments capabilities regardless of whether they leverage FIS products today.
“The FIS BaaS Hub levels the playing field between big and small financial institutions by providing all consumers with unbundled FIS and fintech solutions that can be easily embedded into any digital channel,” says
The fast-growing Banking-as-a-Service market is expected to grow to a more than
FIS plans to release new features and capabilities to the Hub in the future that will serve this market, helping businesses of all sizes innovate faster, smarter, and more securely than ever before.
FIS is a leading provider of technology solutions for financial institutions and businesses of all sizes and across any industry globally. We enable the movement of commerce by unlocking the financial technology that powers the world’s economy. Our employees are dedicated to advancing the way the world pays, banks and invests through our trusted innovation, system performance and flexible architecture. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in
1 “Banking as a Service: Banks’
2 “The Embedded Finance Explainer,” Insider Intelligence,
Senior Vice President