Barclays US Consumer Bank, a leading digital banking partner, and FIS (NYSE: FIS), a global leader in financial technology, today announced a multi-year extension of their core banking partnership agreement, supporting the bank's retail deposits growth ambitions and continued focus on modernizing its digital platforms and capabilities.
As part of the agreement, Barclays will deploy the FIS Profile service, a cloud-ready, high-performance core banking platform that manages money at rest – deposits, accounts, and balances - while delivering real-time, multi-currency processing that reduces risk, costs and time to market.
FIS Profile's open architecture enables real-time data streaming, seamless integration with consumer-facing channels, and the flexibility to connect best-fit solutions across Barclays advanced technology ecosystem.
Over the past decade, Barclays has seen tremendous growth in its online deposits business in the United States through award-winning savings products, including its innovative tiered savings program. The bank’s suite of online savings and Certificate of Deposits (CDs) products supports the broader banking needs of its 25 million co-branded credit card cardmembers across 20 of America’s best-loved travel and retail brands.
"As we expand our deposits business and bring new products to market, we have invested in digital capabilities and are simplifying our processes to create a better customer experience," said Barclays official James Capolongo. "With over $25 billion on deposit, we require a core platform that can scale with us to best serve our customers as the leading digital banking partner in the U.S.”
FIS shares collected 62 cents, or 1.3%, to $47.05.
Related Stories
