Community and Regional Banks Embrace Digital Transformation by Selecting FIS

Rhea-AI Summary

FIS has secured agreements with five new banks, including PointBank and Bank of Southern California, to implement its HORIZON and Digital One banking platforms. This move responds to the accelerating digital transformation in the banking sector, as seen in FIS' survey where 26% of new regional bank customers preferred digital services. The platforms provide a flexible, modern architecture, enabling banks to enhance customer experiences and deliver services efficiently, addressing the competitive gap with larger institutions.

Positive

• FIS signed agreements with five new banks for HORIZON and Digital One platforms.
• 26% of recent regional bank customers prefer digital services, indicating strong market demand.
• HORIZON allows for an advanced user experience across devices and browsers.
• Digital One provides modern digital banking experiences that meet customer expectations.

Negative

• None.

Key facts

• PointBank, Bank of Southern California and three other community banks recently selected FIS as their new banking platform and digital provider, embracing HORIZON and Digital One as their banking and digital platforms for the future.
• FIS is a destination for innovative banks because of its flexible, modern solutions that scale with their growth while enhancing speed to market of fresh capabilities and experiences.

JACKSONVILLE, Fla.--(BUSINESS WIRE)-- As community and regional banks accelerate their digital transformation strategies, FIS^® (NYSE: FIS) continues to be a destination for innovative financial institutions looking for providers with a full financial suite of solutions. FIS has recently signed agreements with five new banks, including PointBank and Bank of Southern California, who are embracing HORIZON and Digital One as their banking and digital platforms for the future.

Based in Denton, TX, locally-owned and independent PointBank has been serving its community with personal and commercial banking services for more than 130 years. Bank of Southern California, N.A. was founded in 2001 in San Diego to focus on the needs of the local business community in the region. The ability to constantly benefit from rapidly advancing digital technology and modern user experiences were primary drivers behind these banks’ selection of FIS.

According to FIS’ most recent PACE Pulse survey, “digital banking” is more appealing to new regional or community bank customers than others — 26% of respondents started a new relationship with a regional bank or community bank for digital banking services. The Covid-19 pandemic has accelerated consumer need for digital banking and payments, and banks with complete and up-to-date digital banking capabilities could be better positioned to meet these shifting trends.

FIS’ HORIZON is a flexible and modern banking platform that uses a multi-tiered architecture, which allows for a consistent, powerful user experience across most devices and browsers. Digital One enables these banks to deliver a streamlined, modern digital banking experience that customers are coming to expect from their financial services providers. And banks using HORIZON will also be able to utilize a wide set of FIS and third-party solutions enabled via the growing FIS Code Connect ecosystem—all of which can be implemented with little integration work on the bank’s behalf.

“PointBank has deep roots to our community, and that means we have a responsibility to the people and businesses we serve to deliver the best banking experience that we can,” said Jonathan David, Chief Operating Officer at PointBank. “FIS helps us achieve that mission by enabling us to offer our customers truly advanced and intuitive banking wherever they are—in branch or online.”

“To support the future growth of the business communities we serve throughout our banking footprint, it is important that we be equipped with the best tools available,” said Pamela Isaacson, EVP Chief Operations Officer at Bank of Southern California. “FIS’ core banking system not only offers us the flexibility to tailor-make our banking experience, but also helps us deliver new services to our market faster than we could have before.”

“Community and regional banks are often at a disadvantage to their larger competitors who have more resources to build out their digital technology, but FIS gives these banks a new leg up,” said Maria Schuld, Division Executive, Americas Banking Solutions at FIS. “We seek to be a consummate partner to our banking clients, helping them grow their portfolios by delivering truly modern banking experiences in a way that is accessible, easy to integrate, and scalable for them, no matter their size.”

About FIS

FIS is a leading provider of technology solutions for merchants, banks and capital markets firms globally. Our employees 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 Jacksonville, Florida, FIS ranks #241 on the 2021 Fortune 500 and is a member of Standard & Poor’s 500® Index.

To learn more, visit www.fisglobal.com. Follow FIS on Facebook, LinkedIn and Twitter (@FISGlobal).

View source version on businesswire.com: https://www.businesswire.com/news/home/20211208005640/en/

Kim Snider, +1 904.438.6278

Senior Vice President

FIS Global Marketing and Communications

kim.snider@fisglobal.com

Source: Fidelity National Information Services

FAQ

What new banks have partnered with FIS for its digital platforms?

FIS has partnered with PointBank, Bank of Southern California, and three other banks for its HORIZON and Digital One platforms.

What is the significance of the recent FIS agreements with banks?

The agreements highlight FIS's role in helping community banks enhance their digital transformation and compete better in the market.

How does FIS's HORIZON platform benefit banks?

HORIZON offers a flexible, modern banking solution that enhances customer experience and enables rapid service delivery.

What percentage of customers prefer digital banking services according to FIS's PACE Pulse survey?

According to FIS's PACE Pulse survey, 26% of respondents preferred digital banking services when choosing a new regional bank.