FIS GenNOW Helps Financial Institutions Reach Entrepreneurs, Mobile and Young Consumers

Key facts

  • FIS GenNOW allows financial institutions to provide customers real-time access to funds via mobile or prepaid cards.
  • A turnkey, brandable solution, GenNOW allows financial institutions to compete effectively against alternative financial service providers.
  • Financial institutions that use GenNOW can capture new sources of revenue and attract and retain customers who are increasingly turning to alternative sources for financial services.

Tweet this: @FISGlobal GenNOW helps banks and credit unions attract and retain young and mobile customers.

JACKSONVILLE, Fla.--()--Attracting and retaining young and mobile consumers is a highly competitive environment, particularly for financial institutions. FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, today announced a new solution that allows banks and credit unions to compete effectively with alternative financial services.

While often currently overlooked, young, mobile and entrepreneurial customers provide a large and growing market, as well as the opportunity to build long-term banking relationships as Generations X and Y become the main earners in the U.S. economy.

FIS GenNOW™ Financial Services allows financial institutions to capitalize on these customers by providing real-time access to funds via mobile or prepaid cards. GenNOW customers can easily track their spending and manage their finances on the go, as well as:

  • Load money to their prepaid cards through a mobile app and have immediate access to their funds
  • Make expedited bill payments using a mobile app and avoid late payment charges
  • Track spending and balances with personal financial management tools and alerts
  • Get rewards for usage and meeting budget and savings goals
  • Receive real-time notifications of offers reflective of their buying habits and interests

Watch GenNOW in Action

A turnkey, brandable solution, GenNOW enables financial institutions to effectively compete in a disruptive market where their customers are being lured to conduct alternative financial services outside of the traditional banking system. By offering a GenNOW account, financial institutions will be able to capture new revenue and retain customers with state of the art financial services and tools.

“One in four U.S. households conducts at least some financial transactions outside of the mainstream banking system,” said Bruce Lowthers, EVP, North American Card Solutions, FIS. “When you consider those numbers, and the long-term opportunities available to banks and credit unions who reach out to the customers GenNOW focuses on, this is a key driver of consumer engagement, growth and future business.”

FIS launched GenNOW at its InfoShare 2014 conference, which highlights technology, trends and opportunities for the community bank sector. It also will be featured at FIS Client Conference in May.

About FIS

FIS is the world’s largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 110 countries. Headquartered in Jacksonville, Fla., FIS employs more than 39,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. First in financial technology, FIS tops the annual FinTech 100 list, is 434 on the Fortune 500 and is a member of Standard & Poor’s 500® Index. For more information about FIS, visit www.fisglobal.com.

Follow us on Facebook (facebook.com/FIStoday) and Twitter (@FISGlobal).

Forward-Looking Statements

Statements in this release that are not historical are forward-looking statements made pursuant to the safe harbor provisions of federal securities laws. Any statements that refer to beliefs, expectations, projections or other characterizations of future events or circumstances and other statements that are not historical facts are forward-looking statements. Because such statements are based on future economic performance and are not statements of fact, actual results may differ materially from those projected. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to changes in general economic, business and political conditions, developmental and conversion delays inherent with new software products and technology, and risks of reduction in revenue from the elimination of existing and potential customers due to consolidation in or new laws or regulations affecting the banking, retail and financial services industries, changes in the growth rates of the markets for our solutions and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company’s Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.

Other unknown or unpredictable factors also could have a material adverse effect on our business, financial condition, results of operations and prospects. Accordingly, readers should not place undue reliance on these forward-looking statements. These forward-looking statements are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Except as required by applicable law or regulation, we do not undertake (and expressly disclaim) any obligation and do not intend to publicly update or review any of these forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts

Kim Snider, 904.438.6278
Vice President
FIS Global Marketing and Corporate Communications
kim.snider@fisglobal.com
or
Nancy Murphy, 904.438.6192
Senior Vice President
FIS Investor Relations
nancy.murphy@fisglobal.com

Watch GenNOW in Action http://www.youtube.com/watch?v=37jQZO-wshs&feature=youtu.be (Graphic: Business Wire)

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Contacts

Kim Snider, 904.438.6278
Vice President
FIS Global Marketing and Corporate Communications
kim.snider@fisglobal.com
or
Nancy Murphy, 904.438.6192
Senior Vice President
FIS Investor Relations
nancy.murphy@fisglobal.com