FIS (NYSE: FIS) has launched a financial technology platform, Atelio, enabling financial institutions, businesses, and software developers to integrate financial services into their products and processes, offering users a range of financial services including deposit collection, fund transfers, card issuance, invoicing, fraud prevention, cash flow forecasting, and customer behavior analysis.

For financial institutions and businesses

Targeting financial institutions and businesses, the company claims that through Atelio, processes for delivering financial services and customer support can be streamlined, allowing financial institutions and businesses to embed financial services into their products and processes.

Tarun Bhatnagar, President of FIS Platforms and Enterprise Products, stated, "Atelio from FIS represents the future of fintech, transcending the boundaries of how enterprises deliver and customers consume financial services. Atelio is more than just a new solution; it is designed to provide expertise, tools, and distribution channels that enable our users and customers to focus on innovation."

KeyBank, College Ave, and RoyalPay Inc. are among the companies already adopting Atelio. This launch comes at a time when the embedded finance industry is experiencing exponential growth, with modern software solutions continuously enhancing financial services. By making FIS's fintech capabilities accessible in new ways, Atelio aims to facilitate broader participation in this rapidly expanding field.

In February of this year, FIS partnered with Banked, a provider of open banking solutions, to initiate direct payments within the banking industry. This collaboration, utilizing open banking, APIs, and real-time payment services, aims to facilitate direct transfers from user accounts, bypassing traditional methods such as card details or account numbers.

Innovations in digital payments

As open banking becomes increasingly prevalent in the United States, FIS will roll out this new feature across various sectors including insurance, higher education, utilities, and government agencies. Seamus Smith, President of FIS Global Business Payments, emphasizes that the collaboration with Banked signifies FIS's commitment to providing payment services in key industries.

Furthermore, FIS is collaborating with Stratyfy to enhance its card fraud detection capabilities. This partnership aims to address growing concerns surrounding fraudulent activities, which pose significant risks to businesses and consumers. At the heart of this collaboration is Stratyfy's machine learning approach, promising improved outcomes in fraud detection. FIS and Stratyfy aim to prevent unnecessary disruptions and delays in transactions caused by fraudulent activities.