Barclays US Consumer Bank and FIS, a US-based financial technology provider, have announced a multi-year extension of their core banking partnership agreement.
As part of the arrangement, Barclays will deploy the FIS Profile service, a cloud-ready core banking platform that manages deposits, accounts, and balances while providing real-time, multi-currency processing.
FIS Profile's open architecture supports real-time data streaming, integration with consumer-facing channels, and connectivity across Barclays' broader technology ecosystem. The platform is designed to reduce risk, cost, and time to market for new product launches.
Scale and strategic context
Barclays US Consumer Bank holds over USD 25 billion in deposits and serves 25 million co-branded credit card customers across 20 travel and retail brands in the US. The bank's digital deposit offering includes online savings accounts and certificates of deposit, and has grown significantly over the past decade through its tiered savings programme.
The partnership extension supports Barclays' ambitions to continue growing its US retail deposits business and to modernise its digital platforms. The deployment of FIS Profile provides a scalable core infrastructure foundation intended to support faster product innovation and improved customer experience as the bank expands its suite of deposit products.
Furthermore, the strategic agreement reflects a broader trend among banks seeking to modernise core banking infrastructure through cloud-ready platforms that offer the flexibility to integrate with third-party solutions and deliver real-time processing, rather than undertaking full legacy system replacement.
Talking about the move, James Capolongo, Head of Banking at Barclays, said the bank requires a core platform that can scale with its deposit growth to best serve customers as a leading digital banking partner in the US. Andrew Beatty, Head of Global Banking Cores at FIS, noted that the collaboration will help Barclays unlock measurable value throughout its modernisation programme, from faster product innovation to AI-powered insights.
