FIS has announced that the FIS Modern Banking Platform is now available on the Microsoft Azure cloud platform, expanding digital online banking to financial institutions in markets including the United Kingdom, Thailand and New Zealand. The offering combines the latest advancements in cloud security, monitoring, resiliency and operational analytics with a modern, cloud-native core.
The FIS Modern Banking Platform helps banks design, build and deploy new products and services. Through a platform that’s fully API-enabled, FIS’ real-time solution is cloud-native and provides financial institutions with advanced analytics. Modern Banking Platform uses artificial intelligence and component-based architecture and is built to be highly-configurable while providing next-level security for financial institutions and their customers.
Ninety-one percent of financial institutions use cloud services today or plan to soon according to the Cloud Security Alliance,1 a number that has doubled over the previous four years.
“We’re incredibly excited for financial institutions in more countries to experience the Modern Banking Platform that is cloud-native through Microsoft Azure,” said Andrew Beatty, Head of Enterprise Banking at FIS. “Teaming with Microsoft allows us to provide a secure, scalable and compliant SaaS solution in the cloud that helps financial institutions adapt to complex and changing regulations in multiple jurisdictions. Deployment via Azure also provides our clients with elasticity, meaning banks can quickly update their infrastructure to adjust to the volume of business. It’s a solution that allows us to offer the same high level of support and operations that we currently provide with the FIS private cloud.”
“We’re pleased to partner with FIS to help more financial institutions modernize their payments and core banking to meet rising customer expectations and drive new value,” said Bill Borden, Corporate Vice President of Worldwide Financial Services at Microsoft. “Running on Microsoft Azure, FIS’ Modern Banking Platform delivers a flexible, data-driven solution to deepen customer relationships and roll out products more quickly, while managing risk effectively.”
In 2021, Microsoft expanded its payments relationship with Worldpay from FIS in Latin America to allow payment processing in the Americas, Europe and Asia Pacific.