New York-based Apple Bank has selected FIS and its IBS system for its new core banking setup and will be moving to a hosted platform as part of a major transformation program, reports Alex Hamilton of Fintech Futures, Finovate’s sister publication.
According to FIS, the bank wanted to modernize its in-house technology with a new core platform. IBS will be deployed across the institution’s mobile banking, branch and ATM channels.
Apple Bank, which has 79 branches and assets of more than $15 billion, is the second-largest state-chartered savings bank in New York State.
“It’s all about the experience,” said Aditya Kishore, EVP and CTO of Apple Bank. “We chose the FIS IBS core banking platform because it enables us to deliver that consistent, seamless customer experience.”
Rob Lee, head of digital and banking at FIS, added that the vendor is confident that IBS will provide Apple Bank with a technology platform it needs “to support its growth well into the future.”
FIS demonstrated its Cardless Cash solution at FinovateFall 2016. Founded in 1968 and headquartered in Jacksonville, Florida, the company acquired payments firm – and fellow Finovate alum – Worldpay in March for $34 billion.
“Scale matters in our rapidly changing industry,” FIS Chairman, President, and CEO Gary Norcross explained when the Worldpay deal was announced. “Upon closing later this year, our two powerhouse organizations will combine forces to offer a customer-driven combination of scale, global presence, and the industry’s broadest range of global financial solutions.”