FIS Helps Small and Mid-Sized Financial Institutions Digitally Transform Through New Embedded Finance Capabilities in Partnership with Treasury Prime
FIS has launched a new embedded finance offering in partnership with Treasury Prime, utilizing APIs to enhance digital banking capabilities for financial institutions. This service is designed for small and mid-sized banks and fintechs, enabling them to create new revenue streams and improve digital processes like deposits and accounts payables. The first client to implement these services is Grasshopper, a digital commercial bank, which plans to leverage these capabilities for better serving fintechs and small businesses.
- Launch of embedded finance offering enhances digital banking capabilities.
- API-based solution helps small and mid-sized banks and fintechs create new revenue streams.
- First client Grasshopper aims to better serve its user base with improved banking services.
- None.
Key facts
- New FIS embedded finance offering is developed in partnership with Treasury Prime using application programming interfaces (APIs) that make it easier for financial institutions to offer enhanced digital banking capabilities.
- Embedded finance services are easily scalable and create new revenue streams for small and mid-sized banks and fintechs by delivering solutions such as digital deposits, accounts payables, and other banking processes that augment or enhance the banks’ proprietary digital footprint.
Embedded finance is a key industry trend that enables any company to become a fintech company by embedding financial services capabilities such as banking, credit, payments, insurance and investments in their digital channels. By making it easier for small and mid-size financial institutions to offer enhanced digital banking services to their customers, FIS’ embedded finance offering can empower them to compete in new ways.
Through this innovative application programming interface (APIs)-based offering, FIS’ banking clients and the businesses they serve will have new ways to manage deposits, accounts payables and other critical banking processes digitally and remotely.
Embedded finance can also help financial institutions create new revenue streams by expanding their client base outside their traditionally local footprint.
“Embedded finance is a growing trend in the market because it allows businesses to bring innovative ideas quickly to market by combining financial services with user experiences right at point of need,” said
“The banks that take advantage of embedded services now have the opportunity to become the foundation for a new generation of financial institutions,” said
The first financial institution to tap into FIS’ embedded finance services is Grasshopper, a leading-edge, digital commercial bank. Grasshopper partnered with HUMBL, a Web 3 blockchain company with both consumer and commercial divisions, to utilize their bank services, powered by FIS and Treasury Prime, across its user base.
“We are very excited to partner with FIS and Treasury Prime on this large and growing embedded finance opportunity,” said
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
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Senior Vice President
kim.snider@fisglobal.com
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