FIS, a financial services technology provider in the derivatives space, has announced a partnership with payment and risk solutions firm Early Warning to enable financial institutions to offer faster P2P payment services via the Zelle Network to its customers.
Finance Magnates last reported on FIS back in May after Credit Suisse integrated the company’s derivatives utility to help fortify its derivatives clearing operations and technology services.
Instant Money Movement
As a result of the new partnership, FIS will be able to offer financial institutions full-service, real-time money movement capabilities and solutions to meet the growing demands of digital customers.
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FIS financial institutions will be able to join the Zelle Network quickly and with minimal effort. The fully outsourced solution will enable each institution to utilise robust capabilities provided within the secure FIS infrastructure, including mobile and online consumer experiences, alerts and notifications, faster account integration, as well as capabilities for product support, regulatory compliance, risk management and anti-money laundering.
Commenting on the partnership, Scott Coffing, division executive, Corporate and Digital, FIS, said: “Offering Zelle aligns with our global initiatives in real-time payments frameworks and extends our portfolio of solutions that help financial institutions fulfill the growing customer demand for instant money movement.”
Zelle will be offered as a key part of the growing set of FIS real-time payment capabilities and solutions, which include External Transfers, Digital eGifting, and Bill Payment, all enabled through FIS PayNet and the FIS Open Payment Framework (OPF).
Lou Anne Alexander, group president, payments, Early Warning, added: “Working with FIS is a natural extension of our strategy to become the ubiquitous provider of faster P2P payments for financial institutions of all sizes. Zelle and FIS will continue to help financial institutions make their customers’ financial lives easier, providing them fast, safe and more convenient payment options with their friends and family.”