FIS
FIS is a financial technology company that supplies software and services to financial institutions and businesses. FIS systems support daily banking and payments as well as the operations of investment and capital markets firms. Banks use this technology to maintain financial records, process instructions and connect their services across channels.
Financial institutions need systems that maintain account records and process transactions across their services. FIS provides technology for this work, including core banking software that keeps records of deposits and loans. Its products also support the management of investments and the movement of money between accounts.
Banking software and issuer processing
FIS provides financial technology for payments, banking and investment to financial institutions, businesses and developers. FIS is based in Jacksonville, Florida, and its clients include banks, credit unions, insurers and asset managers. In the deal in which Global Payments bought Worldpay, FIS sold its Worldpay stake and took over the Issuer Solutions business of Global Payments (Global Payments).
Card issuing in the cloud
In Europe, FIS names Kredittbanken as a client: a Norwegian consumer credit institution that runs the consumer credit products of 69 Norwegian savings banks. Kredittbanken moves its loans, deposits and credit cards to PRIME in the Cloud from FIS Total Issuing Solutions, which runs on Amazon Web Services with automated upgrades and API-first integration (FIS). For a bank in Germany, such a move falls under the outsourcing and cloud rules that cloud outsourcing in German banking describes.
FIS and stablecoins
FIS and a Circle subsidiary agreed to give financial institutions the ability to transact in USDC. The FIS Money Movement Hub, which connects a bank to several payment networks in one place, is the first FIS product to integrate with Circle, so that US institutions can offer domestic and cross-border USDC payments to their customers (Circle). In the EU the same service would fall under MiCA; stablecoins for banks covers what a European bank may offer.
Upcoming payments events in Europe
Payments & Digital Money
Digital Infrastructure & Sovereignty
What is the FIS Money Movement Hub?
A payment hub that connects a bank to several payment networks through one integration. FIS Money Movement Hub is the first FIS product linked to Circle for USDC payments. Payment hubs explains the model.
Does FIS still own Worldpay?
No. FIS sold its stake when Global Payments bought Worldpay, and took over the Issuer Solutions business of Global Payments in the same deal.
Banking technology
Other technology providers
FIS and Finance Loop
Finance Loop covers core banking, card issuing and stablecoins for banks in its Payments & Digital Money and Digital Infrastructure & Sovereignty tracks. Bankers and technology providers meet at Finance Loop events in Frankfurt and other German cities.
Finance Loop is a professional network supporting the institutional use of emerging technologies in finance, such as AI, digital payments, cloud and blockchain solutions. Finance Loop helps its members build skills and personal networks in these fields: Investment & Digital Assets, Payments & Digital Money, Digital Infrastructure & Sovereignty, and Risk & Compliance.