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FIS launches core banking subscription model for community banks

Source: FIS

As U.S. community banks position themselves for success in a post-pandemic marketplace, financial technology leader FIS (NYSE: FIS) today announced a new subscription-based core banking solution that speeds and simplifies access to the advanced technology these banks need to compete and better serve the changing needs of their customers.

Called ClearEdge, the new solution offers community banks a pre-integrated, comprehensive bundle of technologies for operating a highly efficient, modern bank and providing a superior customer experience—all available via an affordable, flat-fee, month-to-month subscription model.

Qualifying banks can choose from pre-defined, pre-priced bundled solutions comprising a range of core processing, payments processing, digital functionality, image and item processing, decision intelligence and regulatory compliance technologies.

“As a company with its roots in serving community banks, FIS understands the unique challenges these organizations are facing in positioning themselves for success amidst the current pandemic,” said Rob Lee, head of Global Core and Channels, Americas, at FIS. “We are committed to making it as easy as possible for our qualifying community bank clients to access the advanced technology they need to offer modern, differentiated products and services to their customers.

“ClearEdge takes that commitment to the next level with a powerful offering that we believe will be a game-changer for many community banks,” Lee added.

ClearEdge leverages FIS’ recently announced simplified pricing and contracting model to streamline the contracting process for community banks with limited resources. ClearEdge core banking contracts provide optimal flexibility with no required term lengths, liquidated damages and exclusivity requirements as well as clearly defined fees around deconversion services.

Many of the solutions included in ClearEdge bundles are covered by FIS’ groundbreaking service level agreement (SLA) which protects clients in the event of certain service outages. 

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