Financial Technology Leader FIS Finalizes Acquisition of Amount, Enhancing Digital Banking Origination
FIS (NYSE: FIS), a global leader in financial technology, has completed its acquisition of Chicago-based Amount, a provider of unified digital banking origination and decisioning experiences for financial institutions. The acquisition aims to expand FIS’s portfolio of solutions supporting the money lifecycle by integrating Amount’s cloud-native platform, which has processed over 150 million new account applications across lending, cards, and deposits.
Amount specializes in offering a digital account opening experience for consumers and small businesses. Its solution features embedded AI functionality, designed to simplify online account opening for banks, lenders, and credit unions, providing a seamless, digital-first capability to customers.
Stephanie Ferris, CEO and president of FIS, commented on the acquisition, stating, “After years of successful partnership, we are thrilled to welcome Amount’s talented team and innovative capabilities to FIS. Our strategy and investments have positioned FIS to lead the next generation of banking solutions, enabling financial institutions to thrive in today’s digital-first world with confidence, innovation and reliability. The Amount platform, integrated into FIS digital, core banking and card systems, will help FIS clients grow deposits, loans and card portfolios efficiently and securely.”
Adam Hughes, CEO of Amount, expressed his perspective on joining FIS: “Joining forces with FIS marks an exciting new chapter for Amount. FIS provides global scale, robust infrastructure and regulatory expertise that will allow us to strengthen our market offering and deliver seamless, innovative customer experiences and accelerate digital transformation. Becoming part of the FIS organization will create a unique asset and the industry’s most comprehensive digital banking platform.”
Stewart Watterson, strategic advisor at Datos Insights, noted that the acquisition is a strategic move for FIS, enhancing its digital account origination capabilities and positioning it as a leading provider. Watterson added, “By unifying digital origination and decisioning, FIS empowers financial institutions to accelerate growth, reduce friction and deliver great customer experiences across deposits, lending and card services. This integration supports its digital transformation efforts and simplifies banking processes to meet the evolving expectations of today’s consumers and businesses.”
The integration of Amount’s platform is intended to support FIS’s broader “money lifecycle” framework. This framework includes streamlining account opening with secure processes that reduce fraud and ensure compliance (At Rest), optimizing credit card issuance and payments with faster approvals and seamless customer journeys (In Motion), and empowering institutions with tools to boost efficiency, expand offerings, streamline lending, and deliver exceptional service (At Work).
This acquisition aligns with FIS’s ongoing strategy to incorporate innovative, cloud-native, and modular solutions to deliver greater value to its clients across various stages of the money lifecycle. FIS, headquartered in Jacksonville, Florida, is a Fortune 500® company and a member of the Standard & Poor’s 500® Index.
