FIS has been selected by Sainsbury’s Bank as the bank’s technology partner for all its retail banking operations. Under the terms of this strategic multi-year arrangement, FIS will provide real-time core banking and back-office processing support via an outsourced model on behalf of Sainsbury’s Bank.
FIS will provide a real-time core processing and back-office IT solution to Sainsbury’s Bank and deliver transition support as the bank moves its back-office services from Lloyds Banking Group to FIS. FIS’ integrated solutions will support the bank’s deposit, savings, loan and credit cards accounts, and deliver channel integration to enable customers to access their accounts through telephone, internet and mobile devices. The entire operation will be hosted and run by FIS in the UK.
“Sainsbury’s plans to extend their banking services will increase competition by introducing a new and exciting player to the UK banking market. FIS has unrivalled experience in core banking and financial technology outsourcing and is uniquely qualified to help them achieve their growth ambitions,” said Mark Davey, EVP, International, FIS. “The ground breaking deal is a testament to position FIS as a world leader in outsourcing and financial technology solutions.”
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