With this new model, banks can choose where to begin—whether upgrading digital channels, enhancing data and AI capabilities, or integrating open banking solutions—allowing them to adapt transformation strategies to their current needs and long-term goals.
Why It Matters
Banks are under increasing pressure from rising IT costs (projected to grow 9% annually), stricter AI compliance requirements, and competition from agile fintechs. Traditional “all-or-nothing” modernization has become too costly and risky.
First introduced at FIS’ signature client event, Emerald, the Bank Modernization Framework offers a client-first approach. Each financial institution can define its own modernization pathway, whether through incremental technology upgrades, best-of-breed component adoption, or full-scale core transformation.
The result: a tailored, data-driven roadmap that aligns with every bank’s unique business needs and growth strategies.
Accelerating Value Through Flexibility
Unlike “rip and replace” approaches, FIS’ component-based model empowers banks to modernize gradually, minimizing implementation risk and reducing capital investment.
“Banks are no longer focused on just modernization of the core, but rather modernization of the bank,” said Peter Boyer, SVP and interim head of Banking at FIS. “This involves both back-end systems and customer-facing channels. Our framework is not only a solution for today but a long-term investment in the future. We’re already seeing clients improve efficiency, enhance customer experiences, and accelerate growth.”
Four Pillars of Transformation
FIS’ Bank Modernization Framework is built on four strategic pillars:
- Digital – Delivering seamless, frictionless digital experiences for both customers and employees.
- Open Banking & APIs – Connecting ecosystems through FIS products and third-party integrations.
- Platform Transformation – Modernizing the technology stack to meet today’s needs while preparing for tomorrow’s growth.
- Data & AI – Empowering smarter, data-driven decision-making.
The framework leverages FIS’ suite of core banking solutions, Code Connect (API Marketplace), and Digital One, while also integrating recent acquisitions such as Amount, Dragonfly Technologies, and Everlink Payment Services. This enables banks to access a complete ecosystem of solutions for lending, payments, risk management, and treasury services.
FIS’ Global Leadership
As the leading scaled fintech provider, FIS supports financial institutions in over 75 countries, processing more than 40 billion transactions annually. With its comprehensive modernization framework, FIS is positioning banks to stay competitive, agile, and customer-centric in an increasingly digital financial landscape.
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