Dive Brief:
- Fidelity National Information Services, also known as FIS, and the British bank Barclays are extending their relationship, they said in a press release last week.
- In addition to FIS continuing to provide its core banking technology services to the bank, it will also integrate a another service for Barclays that enables the bank to better manage money in deposits, accounts, and balances, while using real-time and multi-currency processing, the release on Tuesday said.
- The contract supports “the bank's retail deposits growth ambitions and continued focus on modernizing its digital platforms and capabilities,” the release said. The tie between the companies began in 2012, a spokesperson said, with no immediate comment on how many years it’s being extended.
Dive Insight:
The added core-banking service from Jacksonville, Florida-based FIS, which the company refers to as its Profile service, is designed to help Barclays cut costs and reduce risks while fueling deposit growth. The service features an open architecture that will allow the financial institution to stream data in real-time, integrate with consumer-facing channels and connect to existing software in the bank’s ecosystem, per the press release.
“As Barclays positions itself for its next phase of growth, FIS is helping the bank to unlock quick, measurable value throughout its modernization program,” FIS head of global banking cores, Andrew Beatty, said in a press release.
The Barclays tie is part of an FIS strategy to focus attention on large banks, particularly those with $10 billion or more in assets. While mid-sized banks remain part of its business, the company is concentrating on larger banks to maximize growth, FIS CFO James Kehoe said at a Wells Fargo symposium last month.
FIS has landed other partnerships with major payments players in recent months. In January, the company collaborated with Mastercard and Visa to develop its first agentic commerce protocol for banks.
As it eyes bigger banks and partners with payment giants, FIS has seen a jump in revenue growth.
For the fourth quarter of 2025, the company reported a 7% revenue increase to $2.75 billion, over the year-earlier period, after adjusting for its sale of the Worldpay merchant acquiring unit and the purchase of an issuer services business, according to an earnings press release.
