• Multiyear agreement will support the Texas financial institution’s goal to achieve efficiencies, more accurate reporting and best-in-class customer service.
• FIS core platform will deliver true real-time integration of the online and mobile channels.
FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, today announced that Texas-based Industry Bancshares, Inc. signed a multiyear agreement to replace its four-year-old banking system with an FIS core banking platform to deliver faster customer service as well as advanced online and mobile banking capabilities. The bank is also deploying FIS item processing and other complementary services.
The Industry, Texas holding company with five state banks made the unusual decision to switch its core banking technology after just four years because of a desire to improve business processes and realize greater efficiencies in its financial-reporting and transactional-management platform. By converting onto the FIS core platform, Industry Bancshares will also deliver direct benefits to its customers by providing real-time access to customer accounts across all bank channels including mobile, online banking and bill pay, EFT networks and the traditional branches across its five banks.
“Banking is about relationships and trust. As our customers increasingly desire more advanced banking and payment services, we rely on trusted technology partners to deliver sophisticated core processing services with speed and efficiency,” said Bradley Lindemann, chief financial officer, Industry Bancshares. “FIS has quickly become a true partner, and the FIS core banking system is the processing platform we believe will meet our customers’ needs.”
“True banking innovation that streamlines and simplifies the customer’s banking experience must be supported by a flexible, leading-edge core infrastructure,” said Anthony Jabbour, executive vice president, North American Financial Institutions, FIS. “As a leader in core bank processing, FIS continues to invest in core innovations that enable its clients to realize greater operating efficiencies while delivering true banking advances to their customers. Industry Bancshares partnered with FIS for that reason.”
With more than $2.2 billion in assets, the 19-year-old Industry Bancshares, Inc. owns the Industry State Bank as well as the Citizens State Bank in Buffalo, Fayetteville Bank in Fayetteville, First National Bank of Bellville and First National Bank of Shiner.
FIS (fisglobal.com) 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 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 35,000 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 425 on the Fortune 500 and is a member of Standard & Poor’s 500® Index.
This news release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. 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 and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company’s Form 10-K and other filings with the Securities and Exchange Commission.
For More Information:
Mary Waggoner, SVP, FIS Investor Relations
P: 904.438.6282 - E: mary.waggoner[.]fisglobal.com.