Fintech
FIS launches the Atelio fintech platform
FIS announced the introduction of Atelio by FIS, a fintech platform designed to facilitate the integration of financial services across diverse offerings.
FIS announced the introduction of Atelio by FIS, a fintech platform designed to facilitate the integration of financial services into various offerings for financial institutions, enterprises and software developers. Atelio is designed to provide accessible components to incorporate FIS’s existing financial technology, enabling businesses across all industries to create financial experiences such as deposit taking, funds transfer, card issuing, invoicing, fraud prevention, cash flow forecasting, checkout and analysis of customer behavior.
The platform ensures the secure and compliant integration of financial services into products and workflows, enabling businesses to seamlessly offer financial services to their customers when they need them. According to the official press release, Atelio has already garnered interest from three initial customers, namely KeyBank, College Ave and RoyalPay Inc.
FIS representatives highlighted the importance of Atelio as a forward-thinking initiative to reshape the financial services landscape, enabling companies to innovate beyond traditional boundaries. Atelio addresses the growing trend of embedded finance, which Bain Capital predicts will represent a substantial portion of transactions and revenues in the financial sector by 2026.
The platform leverages FIS’s extensive expertise, technology infrastructure and suite of financial services, offered as a service, to facilitate participation in the evolving landscape of financial innovation. Through Atelio, banks and financial partners can potentially expand their customer reach. The press release cites research indicating that banks offering embedded finance experience notable deposit growth compared to their competitors.
Atelio’s capabilities help banks, businesses and developers create personalized financial experiences for their customers, with easy distribution across FIS’s extensive banking network and collaboration with Worldpay, expanding access to the financial ecosystem.
Other developments from FIS
In February 2024, FIS announced a partnership with Open Banking provider Banked to launch new bank payment capabilities for both businesses and customers. Following this announcement, bank payment solutions were expected to simplify the overall transaction process by combining the benefits of real-time payments with the flexibility and efficiency of Open Banking. This procedure occurred by offering third-party financial solution providers direct and secure access to banking data to complete digital payments.
Through the use of bank payment offers, companies and customers have gained the ability to make payments directly between the company’s bank account and that of the user, without the need for account numbers, card details or sort codes .