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Direct customer win for FIS strengthens its cloud-issuing revenue mix and validates European market demand for managed cloud cores; could raise near-term sentiment and support multiple deal discussions with banks in Europe.
What happened, with direct paths to the underlying reporting
FIS secured Kredittbanken ASA as a cloud core modernization client through PRIME in the Cloud under FIS Total Issuing Solutions. The deal highlights Europe’s shift to fully managed cloud platforms for core banking, potentially boosting FIS's recurring revenue and pipeline in issuing solutions across Nordic institutions.
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