FIS Adds Curinos’ Deposit Optimizing Tools to Core Banking Platforms

FIS has teamed with Curinos to help financial institutions optimize their deposit growth.

With this collaboration, Curinos’ deposit optimizing tools will be more accessible to the financial institutions that use FIS’ IBS and Horizon core banking platforms, the companies said in a Monday (Aug. 5) press release.

“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,” Melissa Cullen, head of core banking solutions at FIS, said in the release.

Curinos offers data, technologies and insights that help financial institutions make better, more profitable decisions, according to the release.

The company offers a comprehensive suite of artificial intelligence (AI)-based decisioning tools, predictive analytics and science-based platforms that are fed by vast, proprietary data, the release said.

Clients that have used its deposit optimizing tools have typically outperformed other financial institutions, gaining a deposit pricing advantage of as much as 15 basis points in both rising and declining rate environments, per the release.

The partnership of FIS and Curinos comes at a time when financial institutions are working to grow deposits while also dealing with obstacles like fluctuating interest rates, regulatory demands and slowing deposit growth, according to the release.

“This transformative partnership leverages FIS’ robust customer relationships and Curinos’ depth of deposit data and optimization capabilities, empowering FIS’ clients to achieve their funding goals,” Craig Woodward, CEO at Curinos, said in the release.

This partnership comes on the heels of several other new product offerings introduced by FIS.

In July, the firm launched a solution designed to help banks source, underwrite and fund loans to small and medium-sized businesses (SMBs). The new SMB Digital Lending solution, which was created in partnership with Lendio, is the first product from FIS to focus specifically on loans for SMBs.

In May, FIS launched a new version of its mobile banking application for financial institutions, saying it features a simplified design, new fraud prevention features and upgrades to its functionality.

Also in May, the firm launched an embedded finance platform designed for use by financial institutions, businesses and software developers.