Fidelity Information Services (FIS), a US-based banking and payment technology provider, has launched “Banking on Demand,”[1] a service that uses “shared technology infrastructure”[1] to allow financial services companies to manage their operations without establishing their own banking infrastructure. The technology is intended to accommodate comprehensive banking analysis, data migration, “door-step banking”[1] and transformation of institutions into full-service banks.
Ramas Venkatachalam, the managing director of FIS India and South Asia, said that “technology will be the biggest enabler for new bank entrants to deliver on the mandate they have been given to bring financial access to everyone in India”[1].
As reported by MicroCapital in October, FIS recently established a Financial Inclusion Lab in Bengaluru, India. As of December 31, 2014, FIS reported total assets of USD 14.5 billion and clients in 130 countries.
By Alíz Crowley, Research Associate
About Fidelity Information Services (FIS)
Fidelity Information Services (FIS) is a US-based banking and payment technology provider that serves approximately 14,000 institutions in 130 countries. The organization is headquartered in Jacksonville in the US state of Florida. FIS also has regional headquarters in Australia, Singapore and the United Kingdom. The organization employs approximately 42,000 individuals as of 2015. As of December 31, 2014, FIS reported total assets of USD 14.5 billion. FIS operates seven “Innovation Centers” as of 2015.
Sources and Additional Resources
[1] Fidelity Information Services (FIS), FIS Introduces Banking on Demand to Speed Financial Inclusion
[2] Fidelity Information Services (FIS), Our Company
MicroCapital Universe Profile: Fidelity Information Services (FIS)
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