Fintech company FIS (NYSE:FIS) today announced it has completed its acquisition of Chicago-based Amount, a provider of unified digital banking origination and decisioning experiences for financial institutions of all types and sizes.
With more than 150 million new account applications processed, Amount provides a digital account opening experience for consumers and small businesses across lending, cards and deposits. Its cloud-native, unified solution with embedded AI functionality simplifies the online account opening experience for banks, lenders and credit unions, providing customers with a seamless, digital-first capability.
With the addition of Amount, FIS strategically expands its portfolio of innovative solutions that support the world’s money lifecycle, encompassing when money is at rest, in motion and at work.
- At Rest: Simplifies account opening with secure processes that reduce fraud and ensure compliance
- In Motion: Streamlines credit card issuance and payments with faster approvals and seamless customer journeys
- At Work: Empowers institutions with tools to boost efficiency, expand offerings, streamline lending and deliver exceptional service
“After years of successful partnership, we are thrilled to welcome Amount’s talented team and innovative capabilities to FIS,” said Stephanie Ferris, CEO and president of FIS. “Our strategy and investments have positioned FIS to lead the next generation of banking solutions, enabling financial institutions to thrive in today’s digital-first world with confidence, innovation and reliability. The Amount platform, integrated into FIS digital, core banking and card systems, will help FIS clients grow deposits, loans and card portfolios efficiently and securely.”
“Joining forces with FIS marks an exciting new chapter for Amount,” said Adam Hughes, CEO of Amount. “FIS provides global scale, robust infrastructure and regulatory expertise that will allow us to strengthen our market offering and deliver seamless, innovative customer experiences and accelerate digital transformation. Becoming part of the FIS organization will create a unique asset and the industry’s most comprehensive digital banking platform.”
“FIS’ acquisition of Amount is a strategic move that enhances its digital account origination capabilities, positioning the company as a leading provider,” said Stewart Watterson, strategic advisor at Datos Insights. “By unifying digital origination and decisioning, FIS empowers financial institutions to accelerate growth, reduce friction and deliver great customer experiences across deposits, lending and card services. This integration supports its digital transformation efforts and simplifies banking processes to meet the evolving expectations of today’s consumers and businesses.”
This acquisition aligns with FIS’ strategy to add innovative, cloud-native and modular solutions to drive greater value for its clients across the money lifecycle.
