US-based financial technology company FIS has partnered with data intelligence company Curinos to help its core banking clients achieve their deposit goals.
The partnership allows FIS clients using the IBS and HORIZON core banking platforms to incorporate data-driven decision-making into their deposit optimisation process.
Effective deposit optimisation enables financial institutions to easily achieve their growth targets and maintain strategic resilience against economic challenges.
In addition, it allows financial institutions to offer competitive interest rates and product combinations to their customers, said FIS.
FIS core banking solutions head Melissa Cullen said: “Through our partnership with Curinos, we’re making advanced solutions more accessible to regional and community banks, helping them outperform in ever-changing market conditions.
“In today’s highly competitive environment, setting the right deposit rates is crucial, and our clients are increasingly looking to FIS to effectively drive profitable growth.
“Our alliance with Curinos is one more example of how FIS is delivering on our vision to unlock financial technology to the world by providing innovative, data-driven tools to help our clients achieve their strategic objectives.”
The partnership with Curinos allows FIS’ regional and community bank clients on its IBS and HORIZON platforms to make more informed, faster, and more profitable data-driven decisions.
FIS said that the Curinos clients using its deposit optimising tools have outperformed non-users, experiencing a 15bps deposit pricing advantage in both rising and declining rate environments.
Curinos’ engine, built on a comprehensive suite of AI-based decisioning tools, predictive analytics, and science-based platforms, leverages a large volume of in-house data.
The level of data depth, executive insights, and advanced optimisation capabilities will help improve profits and provide a competitive market edge, said FIS.
Curinos CEO Craig Woodward said: “FIS has a formidable reputation and scale for delivering mission-critical banking systems and solutions to its clients, some of which are the biggest global financial institutions.
“This transformative partnership leverages FIS’ robust customer relationships and Curinos’ depth of deposit data and optimisation capabilities, empowering FIS’ clients to achieve their funding goals.”
