FIS, a US-based banking and payments technologies provider, has launched a new solution, FIS GenNOW, which allows financial institutions to provide customers with real-time access to funds through mobile or prepaid cards.
As consumers are becoming more tech-savvy, FIS’s GenNOW allows them to easily track their spending and manage their finances while on the move.
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With GenNOW, customers can load money to their prepaid cards through a mobile app, make expedited bill payments using a mobile app, track spending and balances with personal financial management tools and alerts, get rewards for usage and meeting budget and savings goals, and receive real-time notifications of new offers.
FIS North American card solutions executive vice president, Bruce Lowthers, said one in four US households conducts at least some financial transactions outside of the mainstream banking system.
"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," Lowthers added.
FIS showcased GenNOW at the InfoShare 2014 conference and will again feature it at FIS Client Conference in May this year.
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