FIS rolls out embedded banking platform

Financial technology giant FIS has launched a new embedded banking platform. This tool allows traditional banks to offer their financial products—like lending and credit—directly through the websites and apps of non-financial brands. For retailers and service operators, this means the 'Buy Now, Pay Later' (BNPL) and point-of-sale financing options you offer your customers may soon come directly from established banks rather than third-party fintech startups. The platform simplifies how banks integrate their systems into the shopping experience. This is a significant shift in the consumer financing landscape. Historically, banks have been slow to adapt to the fast-paced digital checkout environment. Now, FIS is providing the bridge. For your business, this could result in more competitive financing rates and higher approval limits as traditional banks enter the digital credit space with more vigor. It also suggests a future where your business software or CRM could integrate financing options more seamlessly, reducing friction at the point of sale. Keep an eye on your current lending partners, as this technology will likely spark new competition and better integrated tools for merchants.

Source: Finextra — Lending

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