FIS Wins Three XCelent Awards for Advanced Technology in Core Banking

Rhea-AI Summary

FIS (NYSE: FIS) Receives Three XCelent Awards from Celent for Advanced Technology, Customer Base, and Breadth of Functionality for its Modern Banking Platform, IBS, and Systematics core banking systems, recognizing the cloud-native, componentized architecture and digital-ready hosted universal core system. The awards reflect FIS's success in providing advanced technology, broad customer base, and robust functionality in the financial services industry.

Key facts

• Leading research and advisory firm Celent has recognized FIS for the Modern Banking Platform, IBS and Systematics core banking systems, with awards in the “Advanced Technology,” “Customer Base” and “Breadth of Functionality” categories.
• The awards recognize the cloud-native, componentized architecture of FIS Modern Banking Platform and IBS, a digital-ready hosted universal core system.
• These awards follow FIS core platform recognition in Celent’s recently published Technical Capability Matrix in the Technology Standout, Functionality Standout and Noteworthy Solutions categories.

JACKSONVILLE, Fla.--(BUSINESS WIRE)-- FIS^® (NYSE: FIS), a global leader in financial services technology, has announced it has been selected by the research and advisory firm Celent for three XCelent Awards in the “Advanced Technology,” “Customer Base” and “Breadth of Functionality” categories. Celent created the XCelent awards to help financial institutions better understand the vendor landscape and compare solution providers.

Celent recognized FIS Modern Banking Platform, the company’s cloud-native core banking platform for its advanced technology in the financial services industry. In determining the winner of the XCelent award for advanced technology, Celent looks at platform and modernity, user interface, data and adaptability/extensibility, integration, scalability and cloud, as well as ease of change.

The FIS hosted universal core system for community and regional banks, IBS, received the award recognizing its broad customer base size and momentum for new customers in the market, showing significant demand for FIS core banking technology. In determining the winner of the XCelent award for Customer Base, Celent looks at post-implementation experiences, number of live customers using the system, geographic footprint and business sectors of the client base, new client momentum and the size of professional services and support team.

Additionally, Celent recognized FIS Systematics, a Large Financial Institution core banking solution from FIS, with the XCelent award for Breadth of Functionality. FIS Systematics global core banking suite encompasses robust, best of breed functionality and is used by many of the largest financial institutions around the world. In determining the winner of the XCelent award for Breadth of Functionality, Celent looks at functions, features, and analytics provided in the base offering, in production lines of business as well as number of deployments for each, and the user experience of the solution.

“FIS was a worthy overall award winner for the Customer Base and Support category, obtaining strong client feedback for implementation and post-implementation support across multiple cores,” said Daniel Mayo, Senior Analyst, Celent. “The FIS core system, Modern Banking Platform, has matured with client deployments to now offer a compelling combination of cloud-native, next-generation technology and proven capabilities to win the Advanced Technology 2023 award. IBS was deemed a Noteworthy Solution, particularly for mid-tier US banks looking for a broad, managed platform to support digital financial services.”

In the same report, FIS was recognized in Celent’s Technical Capability Matrix for “Technology Standout” (FIS Modern Banking Platform), “Functionality Standout” (FIS Profile and FIS Systematics) as well as “Noteworthy Solutions” (FIS IBS).

“Our banking cores are purpose built to fit a financial institution’s size, location and business model, and these awards speak to the success of our technology strategy,” said John Durrant, Banking Solutions President at FIS. “FIS Modern Banking Platform and IBS cores are great examples of open platform capabilities built on componentized architecture. They support API integrations to improve experiences and agile updates that provide consistent opportunities for growth, and this is clearly resonating with our clients as they seek to modernize their banking technology.”

About FIS
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 Jacksonville, Florida, FIS is a member of the Fortune 500^® and the 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/20230713500502/en/

Kim Snider, 904.438.6278

Senior Vice President

FIS Global Marketing and Communications

kim.snider@fisglobal.com

Source: Fidelity National Information Services

FAQ

What awards did FIS receive from Celent?

FIS received three XCelent Awards from Celent for Advanced Technology, Customer Base, and Breadth of Functionality.

What do the awards recognize about FIS's banking platforms?

The awards recognize the cloud-native, componentized architecture of FIS Modern Banking Platform and IBS, a digital-ready hosted universal core system.

How does Celent determine the winner of the XCelent award for advanced technology?

Celent looks at platform and modernity, user interface, data and adaptability/extensibility, integration, scalability and cloud, as well as ease of change.

What did Celent recognize FIS Systematics for?

Celent recognized FIS Systematics with the XCelent award for Breadth of Functionality, encompassing robust, best of breed functionality used by many of the largest financial institutions around the world.

What did Daniel Mayo from Celent say about FIS?

Daniel Mayo, Senior Analyst at Celent, mentioned that FIS was a worthy overall award winner for the Customer Base and Support category, obtaining strong client feedback for implementation and post-implementation support across multiple cores.