FIS and Episode Six have introduced a cloud-native platform designed to modernize the card issuing systems of financial institutions. Revealed at Money20/20 Europe, the FIS International Issuing Hub supports real-time product launches across credit, debit, prepaid, and virtual cards on a global scale.
The platform merges FIS’s extensive global network with Episode Six’s API-driven issuer processing technology to help banks and FinTechs overcome legacy system challenges and meet growing market demands.
Handling trillions of dollars annually and serving over 20,000 clients worldwide, FIS teams with Episode Six, known for its flexible payments technology, to offer a modular solution that simplifies card product configuration and rollout.
John Mitchell, CEO and co-founder of Episode Six, stated the partnership delivers unmatched scalability and flexibility, setting a new standard in payments and enabling clients to innovate and grow in the fast-evolving digital economy.
This launch reflects FIS’s renewed focus on issuer services, following its recent asset swap deal with Global Payments. The transaction includes FIS selling its remaining stake in Worldpay for $6.6 billion and acquiring Global Payments’ Issuer Solutions division for $13.5 billion.
Stephanie Ferris, CEO and President of FIS, called the acquisition strategic and accretive, enhancing FIS’s payment product offerings by shifting to revenue-generating assets with strong cash flow.
By emphasizing core banking and issuer technologies, FIS aims to position the International Issuing Hub as a scalable platform for financial institutions to efficiently manage and expand their card programs in a fragmented global market.
Want to stay ahead of the curve in personal finance? Dive into more expert-driven insights at Finance Tech News.
News Source: Pymnts.com
