FIS (NYSE: FIS), a global financial technology firm, announced it is one of the first providers in the fintech industry “certified” to enable send capabilities for credit transfers in the Federal Reserve’s FedNow instant payment service.
The addition of send capabilities and real-time alerts will enable FIS’ financial institution clients to “harness the FedNow service by providing consumers and commercial borrowers with a unified digital payment experience.”
Chris Como, Head of Cards and Money Movement at FIS said:
“As money moves between banks, consumers, businesses and beyond in a complex cycle, credit and debit cards continue to play a leading role in the payment experience. However, slow or delayed transfers can harm customer loyalty when they need to pay loans, rent, or time-sensitive bills on any given day. Giving the end user direct access to send payments instantly using FedNow marks a huge milestone in our efforts to enable a harmonious payments experience for our clients and the customers they serve.”
Today’s announcement comes amid demand for digital payments services that accelerate and ease how “money is moved within the wider money lifecycle.”
While 74% of consumers used faster or instant payments in 2023, more than 70% of consumers and businesses “looked to their financial institutions to provide these services, according to research from Federal Reserve Financial Services.”
As one of the first to provide end users the ability to send instant payments, FIS continues to execute its vision to “unlock financial technology to bring the world’s money into harmony.”
Following the launch of FedNow in July 2023, FIS was “named as one of the first certified companies in the fintech industry after completing a testing curriculum.”
As covered, FIS is a financial technology company providing “solutions to financial institutions, businesses, and developers.”
They unlock financial technology to the world “across the money lifecycle underpinning the world’s financial system.”
Their people are dedicated to advancing the way the world “pays, banks and invests, by helping our clients to confidently run, grow, and protect their businesses.”
Their expertise comes from experience helping FIs and businesses “adapt to meet the needs of customers by harnessing where reliability meets innovation in financial technology.”
With head offices in Jacksonville, Florida, FIS is a member of the Fortune 500 and the Standard & Poor’s 500 Index.
