FIS enhances Digital One Financial Wellness Suite products for Community Banks

By Edlyn Cardoza

To provide its community bank clients with the advanced digital banking tools they need, FIS has enhanced its Digital One platform with the launch of Spending Insights, a new offering within the Digital One Financial Wellness Suite. FIS’ Digital One hosted platform is pre-integrated with its core banking solutions making it easier for FIS’ clients to tap into this powerful digital solution.

Spending Insights brings innovative new features to banks and their customers, with advanced online banking experiences and personalised, actionable insights about banking activity. This enhancement to the FIS Digital One platform makes powerful tools highly accessible to FIS digital banking customers. Hence, they benefit from flexible, pre-configured solutions that require far fewer developer resources than custom builds.

FIS’ Spending Insights is powered by artificial intelligence and predictive analytics, accessible as an online and mobile banking tool that delivers targeted insights to customers about their financial activity. Customers with Digital One Spending Insights-enabled accounts will receive tailored suggestions for transaction monitoring, balance and cash flow trackers, reminders to set budgets, nudges to better financial choices, and more.

This new solution is now being used by more than 85 banks, including Danbury, CT-based Union Savings Bank, which serves 26 branches in Western Connecticut. The solution also leverages the powerful data-driven personalisation platform from FIS partner Personetics to deliver unique insights.

As the digital transformation of the world’s banking and financial services industry accelerates, smaller banks looking to offer an experience on par with their largest bank and FinTech competitors will need to build out their digital banking strategy. The FIS Digital One platform offers an array of solutions for financial institutions of all sizes to deploy highly advanced digital and mobile banking experiences.

According to Gartner, “by 2030, 80% of heritage banking firms that fail to adapt to digitalisation will go out of business, become commoditised or exist only formally. Product managers must focus on accelerating the digitalisation of functional processes to help banks expedite transformation and remain relevant.”

“At Union Savings Bank we continue to deliver innovative services to our customers and community,” said Cynthia Merkle, President and CEO at Union Savings Bank. “It’s solutions like FIS’ Spending Insights which give us that competitive advantage in the community banking space while building loyalty with our customers.”

“Our highly advanced offerings like the Digital One platform are what drive innovative and forward-looking banks to come work with FIS,” said Maria Schuld, Division Executive, Americas Banking Solutions at FIS. “Because we continue to deliver novel features and experiences, our clients have come to trust us to help them stay on top of and ahead of the technology driving our industry, and it’s why more than 85 banks have already signed up for these new enhancements to our Digital One platform.”