FIS has announced a new embedded finance offering developed in partnership with Treasury Prime. It is expected to help financial institutions meet the growing need for digitally-native banking experiences and grow their client base.
Embedded finance is a key industry trend that enables any company to become a fintech company by embedding financial services capabilities such as banking, credit, payments, insurance and investments in their digital channels.
By making it easier for small and mid-size financial institutions to offer enhanced digital banking services to their customers, FIS’ embedded finance offering can empower them to compete in new ways.
Through this innovative APIs-based offering, FIS’ banking clients and the businesses they serve will have new ways to manage deposits, accounts payables and other critical banking processes digitally and remotely.
Embedded finance can also help financial institutions create new revenue streams by expanding their client base outside their traditionally local footprint.
The first financial institution to tap into FIS’ embedded finance services is Grasshopper, a leading-edge, digital commercial bank. Grasshopper partnered with HUMBL, a Web 3 blockchain company with both consumer and commercial divisions, to utilize their bank services, powered by FIS and Treasury Prime, across its user base.
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