Attracting and retaining young and mobile consumers is a highly competitive environment, particularly for financial institutions. FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, today announced a new solution that allows banks and credit unions to compete effectively with alternative financial services.
While often currently overlooked, young, mobile and entrepreneurial customers provide a large and growing market, as well as the opportunity to build long-term banking relationships as Generations X and Y become the main earners in the U.S. economy.
FIS GenNOW™ Financial Services allows financial institutions to capitalize on these customers by providing real-time access to funds via mobile or prepaid cards. GenNOW customers can easily track their spending and manage their finances on the go, as well as:
- Load money to their prepaid cards through a mobile app and have immediate access to their funds
- Make expedited bill payments using a mobile app and avoid late payment charges
- Track spending and balances with personal financial management tools and alerts
- Get rewards for usage and meeting budget and savings goals
- Receive real-time notifications of offers reflective of their buying habits and interests