FIS™ (NYSE: FIS), the world's largest provider of banking and payments technology, today announced that American Chartered Bank will deploy FIS' Integrated Banking Services (IBS) core processing solution.
As part of this multi-year agreement, FIS will also deliver several supporting products including, Commercial eBanking, Business eBanking, Sales and Service as well as EFT solutions. The bank will utilize the NYCE® Payments Network for point-of-sale and ATM transactions.
American Chartered Bank, a $2.4 billion institution located in Schaumburg, Ill., sought a solution set that would enhance their ability to serve their customers and enable them to provide more innovative products and services. Through FIS, the bank will have a fully integrated platform with more robust functionality, allowing American Chartered Bank to compete effectively with the larger commercial banks in their target market.
FIS' IBS is a highly flexible and integrated core banking solution that provides financial institutions with innovative technology involving minimal disruption to their business operations and customers. IBS is the leading outsourced retail and commercial banking solution among mid-tier U.S. banks. FIS' EFT solutions are utilized by more than 3,000 financial institutions to manage their ATM/debit needs. In 2010 the number of EFT transactions processed through FIS' solutions topped 11 billion.
"We compete in a very challenging market," said Ron Hunt, chief operations officer, American Chartered Bank. "We knew that to continue competing for new customers, and to best serve our existing customers, we needed a core platform and new solutions that would allow us to decrease the time it takes to bring new products to market and operate more efficiently on a daily basis. We are confident that teaming with FIS will do just that."
"IBS is a proven and comprehensive solution that will provide American Chartered Bank with tools to streamline their processes, create operational efficiencies and ultimately to expand their reach in their target market," said Anthony Jabbour, executive vice president, FIS Financial Solutions Group. "The tight integration of IBS with supplemental solutions allows American Chartered to enhance their performance to the benefit of their customers."