FIS announced that its mobile client base has grown 150% since this period last year, a growth rate that deserves attention. Across the financial services sector, customers are banking with their smartphones in record numbers. The Federal Reserve reports that 1 in 5 customers of financial institutions are using mobile banking services, and expects that number to grow to an amazing 43% by the end of 2013.
FIS appears to be scoring an even greater growth rate. FIS reported that bank customers have adopted its clients’ mobile offerings at a rate of 200% over last year. Bank customers have made more than $1 billion in deposits with FIS’s client institutions since those services were first offered in 2008.
To accommodate this rapid growth in mobile banking, FIS offerings include a tablet app, a cloud-based payment service called FIS Mobile Wallet, and a Business Mobile service for small-business customers.
FIS is one of the world’s largest providers of banking and payments technologies.