Barclays: Modernising Online Deposits Growth with FIS

Barclays US Consumer Bank has extended its multi-year core banking partnership with fintech leader FIS.

The partnership will look at deepening the existing collaboration which already underpins the bank’s growing digital deposits business and broader modernisation agenda.

At the heart of the renewed agreement is FIS Profile, a cloud-ready, high-performance core banking platform designed to manage “money at rest” – deposits, accounts and balances – while enabling real-time, multi-currency processing. 

The system already powers approximately 30 direct and digital banks globally, including several leading US digital banks, providing the scalability and reliability required for growth across increasingly competitive deposit markets.

“As we expand our deposits business and bring new products to market, we have invested in digital capabilities and are simplifying our processes to create a better customer experience,” says James Capolongo, Head of Banking at Barclays. 

“With more than US$25bn on deposit, we require a core platform that can scale with us to best serve our customers as the leading digital banking partner in the US.”

The benefits of FIS

FIS Profile’s open architecture allows real-time data streaming and seamless integration with Barclays’ consumer-facing channels and digital ecosystem. 

That connectivity supports the bank’s ambitions to accelerate new product launches and improve responsiveness across its US online savings products – including its tiered savings programme and suite of Certificates of Deposit (CDs).

The modernisation goes beyond technology – it plays a role in Barclays’ strategic emphasis on experience-led banking, using tools like AI-driven analytics and real-time data integration to create more personalised and efficient customer journeys.

“As Barclays positions itself for its next phase of growth, FIS is helping the bank to unlock quick, measurable value throughout its modernisation programme,” says Andrew Beatty, Head of Global Banking Cores at FIS. 

“From faster product innovation to smarter, AI-powered insights and reducing risk along the way, FIS and Barclays are stepping boldly into the future. 

“After all, modernisation isn’t a destination – it’s a continuous journey.”

Expanding a digital banking ecosystem

Over the last decade, Barclays US Consumer Bank has cultivated an online banking footprint centered around convenience and trust. 

Its deposits business complements its co-branded credit card portfolio – serving approximately 25 million cardholders across partnerships with 20 leading travel and retail brands in the US. 

This dual-line strategy enhances customer loyalty and deepens engagement across multiple financial touchpoints.

The extended partnership with FIS therefore strengthens Barclays’ position as a digital-first bank, utilising best-in-class fintech infrastructure to meet evolving demand for secure, agile and scalable banking services. 

For FIS, the collaboration highlights the rising dependency of established financial institutions on adaptive core systems as they navigate modernisation paths alongside neobanks and digital-only challengers.

The overall fintech landscape

Given the sector’s ongoing convergence between financial services and technology, the renewed partnership reflects broader market trends:

• Cloud-native transformation: Traditional banks increasingly rely on modular, API-driven architectures to integrate external innovations while preserving compliance and resilience
• AI-driven insight generation: Platforms like FIS Profile enable banks to gain data-led visibility into customer deposits and spending patterns, fuelling agile product development
• Continuous modernisation: Modernisation no longer ends with migration, as Andrew explains – it evolves through iterative upgrades anchored by analytics and automation.
• Ecosystem expansion: The integration of deposit operations with digital channels plays into broader open banking and embedded finance movements, promoting more connected customer experiences.

FIS continues to position its core platforms as catalysts for transformation across the money lifecycle. 

Barclays’ adoption of Profile, in turn, represents both a commitment to infrastructure renewal and a blueprint for how established banks can compete effectively in the increasingly digital US savings market.