One of the largest banks in UK, Sainsbury Bank has recently formed a strategic multiyear arrangement with FIS, a company dedicated to banking and payments technologies.

Selected as a technology partner, FIS will offer real-time core banking and back-office processing support via an outsourced model on behalf of Sainsbury’s Bank. In addition to these, FIS will facilitate fully integrated real-time core processing and back-office IT solution to Sainsbury's Bank while offering transition support as the bank changing its back-office services from Lloyds Banking Group to FIS.

Peter Griffiths, CEO Sainsbury’s Bank, said, “Introducing our new technology partner is a major step forward in our evolution as we become a wholly owned Bank. We are delighted to be working with FIS, who are experts in their field. We are very pleased with their domain expertise and the extensive functionality delivered by their banking and payments solutions.”

Officials at FIS say that the company is well-positioned to help clients be more competitive and address their business challenges and strategic goals. Its integrated solutions will back Sainsbury Bank’s deposit, savings, loan and credit cards accounts, and bring unified channel integration for better business management.

In addition, FIS’s solution will empower Sainsbury customers to access their accounts through telephone, Internet and mobile devices and this whole operation will be hosted and run by FIS in the U.K.

 “Sainsbury’s plans to extend their banking services will increase competition by introducing a new and exciting player to the UK banking market. FIS has unrivalled experience in core banking and financial technology outsourcing and is uniquely qualified to help them achieve their growth ambitions,” said Mark Davey, EVP, International, FIS. “The ground breaking deal is a testament to position FIS as a world leader in outsourcing and financial technology solutions.”

FIS currently serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 35,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions.