Fis said on Wednesday that she had completed her acquisition of the Chicago -based Fintech amount, in a deal aimed at strengthening its position in creating a digital account and simplifying banking operations of financial institutions.
The amount, which has processed more than 150 million new account applications, provides possible cloud solutions for the sponing organization that simplifies the opening of the digital account through lending, cards, deposits for banks, lenders and credit federations.
The integration of technology into FIS systems is expected to expand opportunities for both customers of commercial companies and consumers.
“After years of successful partnership, we are pleased to welcome the talented amount team and innovative capabilities to Fis. Our strategy and investments have developed FIS to lead the next generation of banking solutions, allowing financial institutions to prosper in the digital world today with confidence, innovation and reliability,” said Stephanie Ferris, CEO of FIS.
Adam Hughes, CEO of the amount, described the move as a “exciting new chapter”, noting that the FIS scale, infrastructure and organizational experience will help accelerate digital transformation and enhance its market.
It is said that the acquisition is appropriate for the broader FIS strategy of providing innovative solutions through what describes the “money life cycle”, from deposits “in comfort” to issuing credit cards and payments “in movement” and tools that improve the efficiency of lending “at work”.
According to Stewart Watterson, the strategic adviser at Datos Insights, the deal places Fis as a leader in the creation of the digital account: “By unifying digital construction and decision, Fis enables financial institutions to accelerate growth, reduce friction and provide great customer experiences.”