Based on research by S&P Global Intelligence, banks offering embedded finance outpaced peers on deposit growth, with a median sequential growth rate of 2.2% for banks, versus a decline of 0.8% for banks that did not.
FIS has launched Atelio, a platform that provides the building blocks for financial institutions, businesses, and software developers to embed financial services into their offerings.
Modern software solutions have fundamentally changed how we pay, get paid, borrow money, and invest, placing financial offerings at the point of need. This trend is accelerating.
The fintech provider stated that Atelio allows companies from all industries to create financial experiences such as collecting deposits, moving money, issuing cards, sending invoices, or leveraging the platform’s tools to fight fraud, forecast cash flows, or better understand customer behavior.
According to FIS, three lighthouse clients – KeyBank, College Ave, and RoyalPay Inc. – are already building on Atelio, which enables users to embed financial services into their products and workflows in a secure and compliant manner.
“Welcome to the future of financial services”
Tarun Bhatnagar, president of Platform and Enterprise Products at FIS, said: “Welcome to the future of financial services. Atelio by FIS is our vision to lead where fintech is going, which is outside the boundaries of how businesses enable, and their customers consume, financial services today. More than just a new solution, Atelio is built to lend the expertise, tools, and distribution so that our users and clients can focus on creating. Our scale, distribution, and continued investment in technology have given us the foundation to unlock our financial capabilities to a wider audience and power the next generation of financial innovation.”
According to Bain Capital, embedded finance will grow to 10% of transactions, valued at $7 trillion, or over $50 billion in revenue by 2026. To meet this growing demand for embedded finance, FIS is making it easier for users of Atelio to participate in this next wave of financial innovation by leveraging FIS’ fintech capabilities in an entirely new way.
Based on research by S&P Global Intelligence, banks offering embedded finance outpaced peers on deposit growth, with a median sequential growth rate of 2.2% for banks, versus a decline of 0.8% for banks that did not.
Atelio makes scalable and compliant fintech capabilities consumable by banks, businesses and software developers, where they can create the experiences they want to offer their customers. Distribution of Atelio is enhanced by FIS’ expansive bank distribution channel as well as its go-to-market relationship with Worldpay.
