WILMINGTON, DE & JACKSONVILLE, FL — Barclays US Consumer Bank and FIS (NYSE: FIS) have signed a multi-year extension of their core banking agreement, with Barclays selecting FIS Profile to support its U.S. deposits growth and digital modernization strategy, the companies announced.
Under the agreement, Barclays will deploy FIS Profile, a core banking platform designed to manage deposits, accounts, and balances while enabling real-time, multi-currency processing.
FIS said the platform is used by about 30 direct and digital banks globally and is designed to integrate with digital channels and third-party systems through an open architecture.
Barclays said the move is intended to support continued expansion of its online deposits business, which includes savings accounts and certificates of deposit tied to its co-branded credit card portfolio.
The bank reported holding more than $25 billion in deposits and serving more than 25 million U.S. consumers through partnerships with travel, retail, and affinity brands.
“As we expand our deposits business and bring new products to market, we have invested in digital capabilities and are simplifying our processes to create a better customer experience,” said James Capolongo, head of banking at Barclays.
Andrew Beatty, head of global banking cores at FIS, said the agreement is aimed at supporting Barclays’ modernization efforts and accelerating product development.
FIS, headquartered in Jacksonville, Florida, provides financial technology solutions to banks and businesses and is a member of the S&P 500.
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