Last week’s FIS InFocus all-virtual conference provided a wealth of valuable information through general sessions, breakout sessions, and networking opportunities. The participation was impressive, with over 4,700 colleagues joining virtually. The theme, “Rise & Thrive,” was well-suited for this year as we face unparalleled challenges and opportunities in 2020.
With hundreds of sessions available over multiple days, it isn’t easy to select just a few things to discuss. However, here are some takeaways from the conference that stood out to us:
FIS has really grown since InFocus 2019.
FIS has experienced tremendous growth since 2019. That scale has differentiated FIS across the market enabling new capabilities to benefit banking and merchant clients.
FIS Ventures + Product Innovation + Value Add Partnerships
Customer expectations are higher than ever.
Consumer expectations are heightening across all industries. We are accustomed to products and services that are on-demand, personalized, simple and intuitive.
The annual FIS Impact Awards recognize organizations using FIS technology in innovative ways to enhance customer experiences and drive tangible business results. Provision was pleased to partner with First United Bank and Trust to unleash the power of Code Connect by creating a system-wide access identity solution.
First United Bank won an Impact Award in the banking category for its innovative work and collaboration with Kitsap Bank, Country Club Bank, and Bank of Hawaii to use real-time connectors in the FIS Code Connect gateway, while partnering with Exclamation Labs as a third-party developer, to power Provision as an identity access management solution.
An unprecedented event is going to drive unprecedented change.
Today, more than 90% of office workers are working remotely. COVID-19 accelerated changing behaviors, reinforcing the many benefits of automation, artificial intelligence, cloud-native technologies, and true omni-channel experiences.
Powerful forces are transforming our environment.
In addition to rising consumer expectations, we are experiencing a disruption of the status quo with the adoption of new technologies.
Many banks recognize the core drivers for meaningful change, but limited resources or competing priorities often stall implementations. We have to be agile to capitalize on changes happening in the financial industry.
The Data Boom
FIS Chief Growth Officer, Asif Ramji, provided information on the pace of change. Parallel to technology adoption, the explosion of data, and our ability to access, transfer, and analyze it has led to this reality: "data is the new oil." Data is now a more valuable asset than trading in physical goods, and one that when attacked, can directly and significantly impact business. The primary way banks can mitigate that risk is through the implementation of an efficient identity and access management system.
While attending a virtual conference is not the same as absorbing the content in-person, we are grateful nonetheless that FIS was able to present relevant and interesting sessions, utilizing new technologies, and bringing InFocus to life online. If you're interested in learning more about Provision and how we helped accelerate the IBS Open API initiatives, we would love to chat– schedule your free consultation today!