Shares in FIS (NYSE: FIS) made do with only slight gains Thursday, as the company announced its position as a Leader in the Gartner Magic Quadrant for Banking Payment Hub Platforms.
FIS’ Open Payment Framework (OPF) is a cloud-native payment hub that enables financial institutions to modernize their payment infrastructure and deliver real-time, cross-border and traditional payment processing through a composable architecture while their money is in motion.
The Gartner evaluation assessed vendors based on criteria including product/service, overall viability, customer experience, innovation and market understanding.
"We believe this recognition from Gartner validates FIS' ability to help financial institutions unlock financial technology across the money lifecycle, specifically the ability to move money in motion with a flexible, future-ready payments infrastructure," said Jim Johnson, Co-President of Banking Solutions at FIS.
"OPF provides banks with the agility to adopt cutting-edge payment innovations, while maintaining robust support for established payment rails. Our approach recognizes that modernization isn't one-size-fits-all journey. Whether banks need a fully customizable framework or a streamlined Payments as a Service (PaaS) solution, we're committed to helping them confidently navigate transformation at their own pace."
The OPF platform supports real-time payments, Automated Clearing House (ACH), cross-border Real Time Gross Settlement (RTGS), and is designed to accommodate emerging payment methods.
FIS shares eked out gains of five cents to $47.62.
