FIS Secured New Core Banking Contracts
The financial services provider signed mandates for a large bank and five new de novo institutions this year.
Updated on Sept. 21, 2026 in Financial Services
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FIS has expanded its footprint by securing core banking mandates with a bank holding over $100 billion in assets and five new de novo banks. The company also facilitated proofs of value for modernization initiatives at two of the top 15 U.S. banks.
Why it matters
Financial institutions are increasingly choosing to modernize legacy systems in stages to improve efficiency. By utilizing component-based strategies, lenders can integrate new tools without the risks associated with replacing entire core platforms.
FIS signed five de novo bank contracts in the first half of 2026. Additionally, median bank merger closing times dropped to 131 days in 2025 from 185 days in 2024.
The players
FIS
This is a financial services technology company that provides software and services to banks and other financial institutions.
Mercury
This company provides banking services tailored to startups and entrepreneurs.
Office of the Comptroller of the Currency
This federal agency charters, regulates, and supervises all national banks in the United States.
Federal Deposit Insurance Corporation
This independent agency provides deposit insurance to depositors in United States banks.
The details
FIS provides a component-based strategy that allows banks to consolidate operations and add functionality while maintaining their current core environments. The firm is supporting institutions that are launching new banks or managing complex consolidation efforts.
Timeline
2024 saw median bank merger closing timelines reach 185 days.
2025 saw median bank merger closing timelines fall to 131 days.
The 12-month period ending in April 2026 saw 14 FDIC deposit insurance approvals.
FIS signed five de novo bank clients during the first half of 2026.
Market Landscape
The rise in FIS contract signings follows the pattern set by the recent increase in FDIC deposit insurance approvals. This shift reflects a broader trend of banks seeking to modernize infrastructure to improve agility within the competitive U.S. financial sector.
Average banking customers may see faster service rollouts and improved digital tool availability as their banks modernize internal systems. These changes are intended to streamline operations and reduce the time institutions spend on administrative integration.
The takeaway
Banks are successfully shifting toward modular technology to avoid the disruption of total platform overhauls. This approach allows smaller de novo banks and large institutions to remain competitive while lowering operational costs.
Further reading
Learn more about industry trends in the Financial Services section.
Source note: This article includes information reported by CFOtech US.
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