Fintech Nexus Newsletter (May 7, 2024): FIS launches new embedded finance platform
It was almost a year ago when FIS acquired embedded finance startup Bond. CEO Roy Ng and much of the team stayed on at FIS.
Today, we learned about the fruits of this integration. FIS has announced the launch of Atelio by FIS, its new embedded finance platform.
What does this new platform do? According to the press release, businesses can use Atelio to “create financial experiences such as collecting deposits, moving money, issuing cards, sending invoices, or leveraging the platform’s tools to fight fraud, forecast cash flows, or better understand customer behavior.”
So, that is quite a lot. Bond was initially focused on credit products but clearly FIS wanted to go to market with a more complete suite of embedded finance tools.
FIS mentions three clients using Atelio: KeyBank, College Ave, and RoyalPay. But it is also targeting businesses outside of financial services. On its home page, Atelio says that it “enables businesses to easily embed financial services.”
This is at the heart of the embedded finance movement. Fintech software that is so simple any business can offer financial services products.
Featured
> FIS Launches Embedded Finance Platform for Financial Institutions and Businesses
FIS has launched an embedded finance platform designed for use by financial institutions, businesses and software developers. The new “Atelio by FIS” platform can help any company collect deposits, move money, issue cards, send invoices, fight fraud, forecast cash flows and better understand customer behavior.
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