FIS: FIS Announces Launch of its Money Movement Hub

FIS has announced the launch of its Money Movement Hub, an innovative payments solution that helps to simplify the back-end infrastructure of financial institutions by enabling them to connect to multiple payment networks and process payments in one place. Designed as a turnkey solution for a wide range of institutions - from super regional banks to community banks - the Money Movement Hub supports a modernized payments journey that can change with each client's needs. The flexible, cloud-native platform is core-agnostic and allows banks to start with the payment types they need, then add new capabilities over time through a "pay-as-you-grow" model. It delivers unified and secure money movement experiences that can be embedded across a variety of customer channels, helping institutions meet digital demands quickly and efficiently. While consumers' expectations for payment ease and efficiency have increased, many institutions are struggling to meet these demands using dated and disparate technology, leaving them exposed to settlement delays and security vulnerabilities. In fact, 57% of organizations that participated in the FIS Harmony Gap survey reported experiencing friction in payments processing, or when money is in motion, at least once a week. The FIS Money Movement Hub helps to harmonize the payments ecosystem within a financial institution by facilitating the integration of major payment networks within one solution, via a single API. As well as helping to reduce complexity for organizations, the solution can increase the accuracy of payments, improve liquidity, and help to quickly remediate security risks. This innovative payments hub responds to evolving consumer demands for faster and more efficient payments, as well as regulatory changes, and aims to transform financial institutions' money movement capabilities. Features of the FIS Money Movement Hub: Unified integration - The FIS Money Movement Hub is designed to integrate with major payment networks, including instant, ACH and wires. Cloud-native - The solution is hosted in FIS' dedicated Amazon Web Services Cloud environment, helping to increase scalability, cost-efficiency, reliability and security. Built-in fraud controls - Real-time in-line transaction and OFAC monitoring, fraud detection, and risk scoring are available within the FIS Money Movement Hub, helping to make payments processing more secure and efficient. FIS has announced the launch of its Money Movement Hub, an innovative payments solution that helps to simplify the back-end infrastructure of financial institutions by enabling them to connect to multiple payment networks and process payments in one place. Designed as a turnkey solution for a wide range of institutions - from super regional banks to community banks - the Money Movement Hub supports a modernized payments journey that can change with each client's needs. The flexible, cloud-native platform is core-agnostic and allows banks to start with the payment types they need, then add new capabilities over time through a "pay-as-you-grow" model. It delivers unified and secure money movement experiences that can be embedded across a variety of customer channels, helping institutions meet digital demands quickly and efficiently. While consumers' expectations for payment ease and efficiency have increased, many institutions are struggling to meet these demands using dated and disparate technology, leaving them exposed to settlement delays and security vulnerabilities. In fact, 57% of organizations that participated in the FIS Harmony Gap survey reported experiencing friction in payments processing, or when money is in motion, at least once a week. The FIS Money Movement Hub helps to harmonize the payments ecosystem within a financial institution by facilitating the integration of major payment networks within one solution, via a single API. As well as helping to reduce complexity for organizations, the solution can increase the accuracy of payments, improve liquidity, and help to quickly remediate security risks. This innovative payments hub responds to evolving consumer demands for faster and more efficient payments, as well as regulatory changes, and aims to transform financial institutions' money movement capabilities. Features of the FIS Money Movement Hub: Unified integration - The FIS Money Movement Hub is designed to integrate with major payment networks, including instant, ACH and wires. Cloud-native - The solution is hosted in FIS' dedicated Amazon Web Services Cloud environment, helping to increase scalability, cost-efficiency, reliability and security. Built-in fraud controls - Real-time in-line transaction and OFAC monitoring, fraud detection, and risk scoring are available within the FIS Money Movement Hub, helping to make payments processing more secure and efficient.