- FIS (FIS, Financial) and Visa enhance partnership to provide regional and community banks with advanced payment capabilities.
- The collaboration aims to improve revenue growth, customer retention, and fraud reduction for smaller financial institutions.
- Key features include stop payment services, a digital campaign manager, and e-commerce fraud mitigation.
FIS (FIS), a leader in financial technology, has announced an expansion of its partnership with Visa to deliver enhanced payment capabilities to financial institutions of all sizes. This initiative is designed to offer regional and community banks access to advanced products that can elevate their competitiveness by optimizing revenue, enhancing customer retention, and minimizing fraud losses.
With this collaboration, smaller financial institutions can integrate new capabilities, such as stop payment services, enabling cardholders and call centers to halt recurring payments to merchants, and a digital campaign manager that aids in customer acquisition and engagement through innovative digital experiences. Moreover, the integration of a wallet link aims to simplify digital wallet transactions, keeping issuers at the forefront of customers' payment preferences without necessitating manual app downloads.
In addition, the partnership offers a comprehensive e-commerce fraud mitigation solution, designed to bolster transaction approval rates and mitigate the financial liabilities associated with fraudulent chargebacks. This suite of tools is set to be accessible to FIS client issuers by 2025, signifying a strategic move to democratize access to cutting-edge financial technology.
Through this endeavor, FIS continues to demonstrate its commitment to leveling the technological playing field for regional and community banks while showcasing the value of strategic collaborations within the financial services sector. These developments follow a series of strategic industry partnerships formed by FIS, including ventures with Oracle, Fulham Football Club, and PwC, solidifying its innovative approach across the money lifecycle.
