FIS Digital One Financial Wellness Suite Products Enable Community Banks to Deliver Simplified, Personalized Financial Services

Rhea-AI Summary

FIS has enhanced its Digital One platform with the launch of Spending Insights, a key addition to its Financial Wellness Suite. This AI-powered tool offers personalized insights into financial activity and is already utilized by over 85 banks, including Union Savings Bank. The upgrades aim to help community banks compete effectively in a rapidly digitalizing financial landscape. FIS emphasizes accessibility and ease of integration, allowing banks to deliver advanced online banking experiences without the need for extensive developer resources.

Positive

• Spending Insights tool now used by more than 85 banks.
• Enhancements aim to improve digital banking experiences for community banks.
• AI-powered features provide personalized financial insights to end-users.
• The integration with core banking solutions simplifies deployment for clients.

Negative

• None.

Key facts

• FIS Digital Banking customers now have access to more advanced tools as FIS adds enhancements to its Digital One hosted platform with Digital One Financial Wellness Suite.
• Spending Insights, the newest addition to Digital One Financial Wellness Suite, is being used by more than 85 banks to bring advanced online banking experiences and personalized, actionable insights about banking activity to their customers.

JACKSONVILLE, Fla.--(BUSINESS WIRE)-- In order to provide its community bank clients with the advanced digital banking tools they need, FIS^® (NYSE: FIS) has enhanced its Digital One platform with the launch of Spending Insights, a new offering within the Digital One Financial Wellness Suite. FIS’ Digital One hosted platform is pre-integrated with the company’s core banking solutions making it easier for FIS’ clients to tap into this powerful digital solution.

Spending Insights brings innovative new features to banks and their customers, with advanced online banking experiences and personalized, actionable insights about banking activity. This enhancement to the FIS Digital One platform makes powerful tools highly accessible to FIS digital banking customers so they benefit from pre-configured, flexible solutions that require far fewer developer resources than custom builds can.

FIS’ Spending Insights is powered by artificial intelligence and predictive analytics accessible as an online and mobile banking tool that delivers targeted insights to customers about their financial activity. Customers with Digital One Spending Insights-enabled accounts will receive tailored suggestions for transaction monitoring, balance and cashflow trackers, reminders to set budgets, nudges to better financial choices, and more.

This new solution is now being used by more than 85 banks including Danbury, CT-based Union Savings Bank, which serves 25 branches in Western Connecticut. The solution also leverages the powerful data-driven personalization platform from FIS partner Personetics to deliver unique insights.

As the digital transformation of the world’s banking and financial services industry accelerates, smaller banks looking to offer an experience on par with their largest bank and fintech competitors will need to build out their digital banking strategy. The FIS Digital One platform offers an array of solutions for financial institutions of all sizes to deploy highly advanced digital and mobile banking experiences.

According to Gartner®, “by 2030, 80% of heritage banking firms that fail to adapt to digitalization will go out of business, become commoditized or exist only formally. Product managers must focus on accelerating the digitalization of functional processes to help banks expedite transformation and remain relevant.”¹

“At Union Savings Bank we continue to deliver innovative services to our customers and community,” said Cynthia Merkle, President and CEO at Union Savings Bank. “It’s solutions like FIS’ Spending Insights that give us that competitive advantage in the community banking space while building loyalty with our customers.”

“Our highly advanced offerings like the Digital One platform are what drive innovative and forward-looking banks to come work with FIS,” said Maria Schuld, Division Executive, Americas Banking Solutions at FIS. “Because we continue to deliver novel features and experiences, our clients have come to trust us to help them stay on top of and ahead of the technology driving our industry, and it’s why more than 85 banks have already signed up for these new enhancements to our Digital One platform.”

Click here to learn more about the FIS Digital One platform and Spending Insights.

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).

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¹ Gartner, “Digitalization Will Make Most Heritage Banking Firms Irrelevant”, Casey, Jeff, 16 January 2020. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission

View source version on businesswire.com: https://www.businesswire.com/news/home/20220323005079/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 is the Spending Insights tool launched by FIS?

Spending Insights is an AI-powered tool within FIS' Digital One Financial Wellness Suite that provides personalized financial insights and spending analysis to banking customers.

How many banks are currently using Spending Insights?

More than 85 banks are utilizing the Spending Insights tool as part of their digital banking offerings.

What is the purpose of FIS' Digital One platform?

The Digital One platform aims to provide community banks with advanced digital banking tools to enhance customer experiences and compete with larger institutions.

How does Spending Insights enhance online banking experiences?

Spending Insights offers actionable recommendations for transaction monitoring, budget setting, and financial management, delivering personalized insights to users.

Why is digital banking crucial for community banks according to FIS?

Digital banking is essential for community banks to remain competitive in an industry that is rapidly digitalizing, as highlighted by Gartner's forecast that many traditional banks may become obsolete without it.