FIS has released a Banking-as-a-Service (BaaS) product that builds off of its purchase of Bond.
Atelio is “an innovative fintech platform that provides the building blocks for financial institutions, businesses and software developers to embed financial services into their offerings,” FIS said in a press release.
KeyCorp, payment solutions company Royal Pay, and private student lender College Ave are the initial clients for the service.
Atelio “is our vision to lead where fintech is going, which is outside the boundaries of how businesses enable, and their customers consume, financial services today,” Tarun Bhatnagar, FIS president of platform and enterprise products, said in the release.
“Atelio is built to lend the expertise, tools and distribution so that our users and clients can focus on creating,” Bhatnagar added. “Our scale, distribution and continued investment in technology have given us the foundation to unlock our financial capabilities to a wider audience and power the next generation of financial innovation.”