FIS banking software for banks and card issuers
FIS sells the systems that keep deposits, loans, cards and payments running inside banks. With the Issuer Solutions business it bought from Global Payments it also processes cards for issuers, and through Circle it connects banks to payments in the USDC stablecoin.
Banking software and issuer processing
FIS calls itself "a financial technology company providing solutions to financial institutions, businesses and developers" and sums up its work as "advancing the way the world pays, banks and invests". It is based in Jacksonville, Florida, and its clients include banks, credit unions, insurers and asset managers. In the deal in which Global Payments bought Worldpay, FIS sold its Worldpay stake and took over Global Payments' Issuer Solutions business (Global Payments).
Card issuing in the cloud
In Europe, FIS names Kredittbanken as a client: a Norwegian consumer credit institution that runs the consumer credit products of 69 Norwegian savings banks. Kredittbanken moves its loans, deposits and credit cards to PRIME in the Cloud from FIS Total Issuing Solutions, which runs on Amazon Web Services with automated upgrades and API-first integration (FIS). For a bank in Germany, such a move falls under the outsourcing and cloud rules that cloud outsourcing in German banking describes.
FIS and stablecoins
FIS and a Circle subsidiary agreed to give financial institutions the ability to transact in USDC. The FIS Money Movement Hub, which connects a bank to several payment networks in one place, is the first FIS product to integrate with Circle, so that US institutions can offer domestic and cross-border USDC payments to their customers (Circle). In the EU the same service would fall under MiCA; stablecoins for banks covers what a European bank may offer.
Upcoming payments events in Europe
Payments & Digital Money
Digital Infrastructure & Sovereignty
What is the FIS Money Movement Hub?
A payment hub that connects a bank to several payment networks through one integration. It is the first FIS product linked to Circle for USDC payments. Payment hubs explains the model.
Does FIS still own Worldpay?
No. FIS sold its stake when Global Payments bought Worldpay, and took over the Issuer Solutions business of Global Payments in the same deal.
Banking technology
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FIS and Finance Loop
Finance Loop covers core banking, card issuing and stablecoins for banks in its Payments & Digital Money and Digital Infrastructure & Sovereignty tracks. Bankers and technology providers meet at Finance Loop events in Frankfurt and other German cities.
Finance Loop is a professional network and has the goal of driving the adoption of emerging technologies in finance, such as AI, digital payments, cloud and blockchain solutions. Finance Loop helps its members build skills and personal networks in these fields: Investment & Digital Assets, Payments & Digital Money, Digital Infrastructure & Sovereignty, and Risk & Compliance.