FIS launches an integrated financing offer in partnership with Treasury Prime

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Integrated finance is a key industry trend that allows any business to add financial services capabilities such as banking, credit, payments, insurance, and investments through the API.

FIS announced a new integrated financing offering to meet the needs of community and regional banks as they seek to offer the most advanced digital capabilities and open up new distribution channels.

Developed in partnership with Treasury Prime, the API-based offering gives FIS banking customers and the businesses they serve new ways to manage deposits, accounts payable and other critical banking processes digitally and from a distance.

Digital commercial bank Grasshopper has become the first financial institution to leverage FIS’ integrated financial services.

Kelly Beatty, Head of Payments at FIS, said, “Integrated finance is a growing market trend because it enables companies to quickly bring innovative ideas to market by combining financial services with user experiences at the point of need. In-app finance also extends the seamless convenience of in-app purchases, such as for ride-sharing, to business uses such as lending, bill paying, contractors, and insurance. These are all customer-centric experiences. By integrating financial services into enterprise software, these consumer expectations are met in new channels and extend the broad reach of financial services.

Chris Dean, co-founder and CEO of Treasury Prime, said: “Banks that leverage integrated services now have the opportunity to become the foundation for a new generation of financial institutions. Banks are starting to see the potential revenue streams built into funding pledges, and we’re excited to work with FIS to help these customers with the processes, security and integration needed to rapidly deploy these banking services.

Chris Tremont, Chief Digital Officer at Grasshopper, added, “We are very pleased to partner with FIS and Treasury Prime on this important and growing integrated funding opportunity. Our vision was clear from the start: we wanted to better serve the needs of fintechs, small and medium enterprises and the business community. This BaaS platform and sophisticated set of APIs allow us to leverage technology and deliver an enhanced banking experience to our customers. »

Integrated finance is a key industry trend that allows any business to add financial services capabilities such as banking, credit, payments, insurance, and investments through the API.

This makes it easier for small and medium-sized financial institutions to offer enhanced digital banking services to their customers and helps financial institutions create new revenue streams by expanding their customer base outside of their traditionally local footprint.

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