FIS launched a new subscription-based core banking solution, shaking up the business model for incumbent core providers. With this cloud-based product, FIS departs from the traditional, on-premise model for core banking. Insider Intelligence writes hundreds of research reports, charts, and predictions on the Banking industry with the Banking Briefing. You can learn more about subscribing here .

FIS announced the launch of ClearEdge, a subscription-based core banking product targeted at community banks, per Finovate. With this cloud-based product, FIS departs from the traditional, on-premise model for core banking, bundling engineerings into a platform offered as a service for a monthly fee.

FIS launched a new subscription-based core banking solutionBusiness Insider Intelligence

The model shortens contract terms, as well as eliminates exclusivity agreements and damages charged for terminating a contract. ClearEdge dovetails with CodeConnect, FI’Ss API marketplace, enabling cafe-style integrations from ecological systems of dealers, fintechs, and the banks themselves. While this framework could open up FIS core integrations to competition, it will help the company retain international financial institutions( FI) patrons by depict them into a suite of services dependent on the FIS platform — much like Microsoft, Apple, and Google do with their offerings in buyer and business software.See the rest of the tale at Business Insider

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