FIS has announced its acquisition of Amount, a Chicago-based provider specializing in digital banking origination and decisioning technology. Financial details regarding the transaction have not been disclosed.
Amount is renowned for its cloud-native technology, which facilitates digital account openings for financial institutions catering to both consumer and small business segments across lending, card services, and deposit solutions.
This acquisition aims to enhance FIS’s comprehensive portfolio throughout the money lifecycle, allowing for seamless integration with FIS’s digital solutions, core banking systems, and card services.
Stephanie Ferris, CEO of FIS, commented, “Integrating the Amount platform into our digital, core banking, and card systems will enable our clients to grow their deposit, loan, and card portfolios with improved efficiency and security.”
Adam Hughes, CEO of Amount, remarked, “FIS’s global reach, strong infrastructure, and regulatory knowledge will empower us to enhance our offerings, providing innovative customer experiences and accelerating digital transformation.”