FIS and Oracle Enhance Utility Billing Experience
FIS (NYSE: FIS) announces collaboration with Oracle to enhance billing and payment capabilities for utility customers. The FIS BillerIQ solution, running on Oracle Cloud Infrastructure (OCI), will modernize utility bill management by enabling electronic bill delivery and digital payments. The partnership addresses the current inefficiency where 75% of organizations still use paper checks, offering multiple payment options including ACH, credit, debit, Realtime Pay, and digital wallets. The solution aims to provide a seamless experience from meter consumption to payment, helping utility companies stay competitive while offering customers greater convenience.
FIS (NYSE: FIS) annuncia una collaborazione con Oracle per migliorare le capacità di fatturazione e pagamento per i clienti del settore utilities. La soluzione FIS BillerIQ, che opera su Oracle Cloud Infrastructure (OCI), modernizzerà la gestione delle fatture delle utility consentendo la consegna elettronica delle fatture e i pagamenti digitali. Questa partnership affronta l'attuale inefficienza in cui il 75% delle organizzazioni utilizza ancora assegni cartacei, offrendo molteplici opzioni di pagamento, tra cui ACH, carta di credito, debito, Realtime Pay e portafogli digitali. La soluzione mira a fornire un'esperienza senza soluzione di continuità dal consumo del contatore al pagamento, aiutando le aziende di utilities a rimanere competitive, offrendo ai clienti una maggiore comodità.
FIS (NYSE: FIS) anuncia una colaboración con Oracle para mejorar las capacidades de facturación y pago para los clientes de servicios públicos. La solución FIS BillerIQ, que funciona en Oracle Cloud Infrastructure (OCI), modernizará la gestión de facturas de servicios públicos al habilitar la entrega electrónica de facturas y pagos digitales. La asociación aborda la ineficiencia actual donde el 75% de las organizaciones aún utilizan cheques en papel, ofreciendo múltiples opciones de pago, incluyendo ACH, crédito, débito, Realtime Pay y billeteras digitales. La solución tiene como objetivo proporcionar una experiencia sin interrupciones desde el consumo del medidor hasta el pago, ayudando a las empresas de servicios públicos a mantenerse competitivas mientras ofrecen a los clientes una mayor comodidad.
FIS (NYSE: FIS)는 Oracle와 협력하여 공공사업 고객을 위한 청구 및 결제 기능을 강화할 것이라고 발표했습니다. FIS BillerIQ 솔루션은 Oracle Cloud Infrastructure (OCI)에서 운영되며, 전자 청구서 전달 및 디지털 결제를 가능하게 하여 공공사업 청구서 관리를 현대화합니다. 이 파트너십은 여전히 종이 수표를 사용하는 조직이 75%에 달하는 현재의 비효율성을 해결하며, ACH, 신용카드, 직불카드, Realtime Pay 및 디지털 지갑을 포함한 다양한 결제 옵션을 제공합니다. 이 솔루션은 미터 사용부터 결제까지 매끄러운 경험을 제공하는 것을 목표로 하며, 공공사업 회사가 경쟁력을 유지하면서 고객에게 더 큰 편의를 제공할 수 있도록 돕습니다.
FIS (NYSE: FIS) annonce une collaboration avec Oracle pour améliorer les capacités de facturation et de paiement pour les clients des services publics. La solution FIS BillerIQ, qui fonctionne sur Oracle Cloud Infrastructure (OCI), modernisera la gestion des factures des services publics en permettant la livraison électronique des factures et les paiements numériques. Ce partenariat répond à l'inefficacité actuelle où 75 % des organisations utilisent encore des chèques papier, offrant plusieurs options de paiement, y compris ACH, carte de crédit, carte de débit, Realtime Pay et portefeuilles numériques. La solution vise à fournir une expérience fluide, de la consommation du compteur au paiement, aidant ainsi les entreprises de services publics à rester compétitives tout en offrant plus de commodité à leurs clients.
FIS (NYSE: FIS) kündigt eine Zusammenarbeit mit Oracle an, um die Abrechnungs- und Zahlungsfähigkeiten für Kunden im Versorgungssektor zu verbessern. Die Lösung FIS BillerIQ, die auf Oracle Cloud Infrastructure (OCI) läuft, wird das Management von Versorgungsrechnungen modernisieren, indem sie die elektronische Rechnungsstellung und digitale Zahlungen ermöglicht. Die Partnerschaft adressiert die derzeitige Ineffizienz, bei der 75 % der Organisationen immer noch Papierchecks verwenden, und bietet mehrere Zahlungsmöglichkeiten, einschließlich ACH, Kredit, Debit, Realtime Pay und digitale Geldbörsen. Die Lösung zielt darauf ab, ein nahtloses Erlebnis vom Zählerverbrauch bis zur Zahlung zu bieten, um den Versorgungsunternehmen zu helfen, wettbewerbsfähig zu bleiben und den Kunden mehr Komfort zu bieten.
- Partnership with Oracle expands FIS's market reach in the utility sector
- Addresses large market opportunity with 75% of organizations still using paper checks
- Solution reduces operational costs and fraud risks associated with paper checks
- Multiple revenue streams through various payment options (ACH, credit, debit, digital wallets)
- None.
Insights
This strategic partnership between FIS and Oracle represents a significant move to modernize utility billing infrastructure. The integration of BillerIQ with Oracle Cloud Infrastructure addresses a substantial market opportunity, considering that
The collaboration leverages Oracle's extensive utility sector presence and global cloud infrastructure spanning 85 regions, combined with FIS's financial technology expertise. Key technical advantages include OCI's built-in security features, microsecond latency and flexible deployment options across public, dedicated and hybrid environments.
While this partnership positions FIS to capture a larger share of the utility payments modernization market, the revenue impact will likely materialize gradually as utilities transition from legacy systems. The focus on operational efficiency and fraud reduction should appeal to utility companies looking to reduce costs and improve customer satisfaction.
Key facts
- FIS and Oracle collaborate to enhance billing and payments capabilities for the utility industry, which includes electricity, gas, water and other essential services.
- FIS BillerIQ solution running on Oracle Cloud Infrastructure (OCI) will give utility customers the flexibility to manage their utility bills with features tailored for their financial needs.
Despite their high costs and inefficiencies,
“The utility sector has historically used traditional payment methods. However, with smart meters and digital payment technologies like mobile banking and e-wallets, consumers now expect to pay bills digitally. The inefficiencies and fraud risk of paper checks add to the challenges faced by the utility industry,” said Seamus Smith, group president of Global Automated Finance, FIS. “Collaborating with Oracle, we’re aiming to digitize the sector, offering greater customer convenience in bill payments while helping utility companies stay competitive. This aligns with our vision to unlock financial technology to the world and enable money to flow freely and efficiently while in motion.”
“Our goal is to simplify the payment process for utility customers,” said Mark Hura, executive vice president of North America Cloud Infrastructure at Oracle. “FIS, a global financial technology leader, chose Oracle Cloud Infrastructure for its superior price-performance, global reach, and non-blocking networks. With our extensive experience in the utilities sector, we understand the importance of reliability, security, and providing a seamless user experience.”
OCI provides price-performance advantages as well as security capabilities that are built in, on by default, at no extra charge. With OCI, enterprise applications like BillerIQ can easily migrate to the cloud and take advantage of ultra-low latency networks, flexible infrastructure, microsecond latency clusters, and complete instance isolation for higher security and performance. With Oracle’s distributed cloud, customers can deploy OCI’s 150+ AI and cloud services across public, dedicated, and hybrid cloud environments, anywhere in the world. In addition, Oracle Cloud is available in more locations than any other hyperscaler, with 85 cloud regions live and 77 planned.
BillerIQ delivers smart, intuitive billing and payment technology to make accepting digital payments simple and secure. It is a fully hosted secure and compliant SaaS Platform, which allows businesses to deliver bills and accept payments through a variety of digital channels on a simple configurable setup. BillerIQ helps businesses lower operational costs, improve efficiency, and enhance customer satisfaction through advanced configurability, ease of integration and advanced capabilities.
For more information on FIS BillerIQ, please visit: www.fisglobal.com/products/automated-finance.
FIS is a leading global provider of financial services technology solutions for financial institutions, businesses and developers. We improve the digital transformation of our financial economy, advancing the way the world pays, banks and invests. We provide the confidence made possible when reliability meets innovation, helping our clients run, grow and protect their business. Headquartered in
View source version on businesswire.com: https://www.businesswire.com/news/home/20241107140151/en/
For More Information
Kim Snider, 904.438.6278
Senior Vice President
FIS Global Marketing and Communications
kim.snider@fisglobal.com
Source: Fidelity National Information Services
FAQ
What is FIS BillerIQ and how does it work with Oracle Cloud Infrastructure?
What percentage of organizations still use paper checks for utility payments according to FIS?
What payment options does FIS BillerIQ offer for utility customers?
