Old Guard Fintech Giant FIS Global Puts Startups On Notice With New Atelio Platform For Regional Banks [Forbes]
Fiserv, Inc. (FI)
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Source: Forbes
Tarun Bhatnagar, president of platform and enterprise products at FIS, presents Atelio at FIS Investor Day on Tuesday, May 7. Jacksonville, Florida's FIS Global, a 56-year-old financial technology provider for banks, has launched a new platform called Atelio to help its regional bank clients offer modernized financial products like deposit accounts and online invoicing to other businesses. For regional banks trying to survive in the digital age, an increasingly popular strategy is to partner with nonbanks, enabling them to offer financial products, a trend FIS is trying to ride with its new Atelio software. “The threat that the banks are facing is if they can't offer quick, nimble ways for people to embed and open accounts, they're going to lose out on those customers,” says Tarun Bhatnagar, president of platform and enterprise products at FIS. “There's an existential threat and there's also an existential opportunity.” In the past two years, 250 banks in the United States have
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