Fintech

FIS launches Atelio fintech platform


FIS has announced the introduction of Atelio by FIS, a fintech platform designed to facilitate the integration of financial services into various offerings.

 

FIS has announced the introduction of Atelio by FIS, a fintech platform designed to facilitate the integration of financial services into various offerings for financial institutions, businesses, and software developers. Atelio is designed to provide accessible components for embedding FIS’ existing financial technology, allowing companies across industries to create financial experiences such as deposit collection, fund transfer, card issuance, invoicing, fraud prevention, cash flow forecasting, and customer behaviour analysis. 

The platform ensures secure and compliant embedding of financial services into products and workflows, enabling companies to seamlessly offer financial services to their customers at the point of need. According to the official press release, Atelio has already garnered interest from three initial clients, namely KeyBank, College Ave, and RoyalPay Inc. 

Representatives from FIS emphasised Atelio’s significance as a forward-looking initiative to reshape the landscape of financial services, enabling businesses to innovate beyond traditional boundaries. Atelio addresses the growing trend of Embedded Finance, which is forecasted to represent a substantial portion of transactions and revenue in the financial sector by 2026, according to Bain Capital. 

The platform leverages FIS’ extensive experience, technology infrastructure, and suite of financial services, offered as a service, to facilitate participation in the evolving landscape of financial innovation. Through Atelio, banks and financial partners can potentially expand their customer reach. The press release cites research indicating that banks offering Embedded Finance experience notable growth in deposits compared to their peers. 

Atelio’s functionality helps banks, businesses, and developers to create customised financial experiences for their customers, with distribution facilitated through FIS’ broad bank network and collaboration with Worldpay, expanding access to the financial ecosystem.

 

FIS has announced the introduction of Atelio by FIS, a fintech platform designed to facilitate the integration of financial services into various offerings.

 

Other developments from FIS 

In February 2024,  FIS announced a partnership with Open Banking provider Banked to launch new pay-by-bank capabilities for both businesses and customers. Following this announcement, the pay-by-bank solutions were expected to simplify the overall process of transactions by combining the benefits of real-time payment rails with the flexibility and efficiency of Open Banking. This procedure took place by offering third-party financial solution providers direct and secure access to banking data in order to complete digital payments. 

Through the use of the pay-by-bank offerings, businesses and clients gained the ability to make payments directly between the company’s and the user’s bank accounts, without the need for account numbers, card details, or sort codes. 



Source

Related Articles

Back to top button