FIS Simplifies Bank On Certification
Making it seamless for our clients to create and offer Bank On certified accounts.What is the Bank On National Account Standard certification?
Bank On ensures access to a safe, affordable bank or credit union account. FIS is committed to helping our customers provide certified Bank On accounts to their users. Users will be able to identify and enroll in safe, low-cost transactional products certified by the national nonprofit organization Cities for Financial Empowerment Fund as meeting the Bank On standards.
These standards serve as the basis for free and independent certification, addressing basic account costs, functionality and consumer protection. Transaction accounts certified as meeting the Bank On National Account standards are already available in tens of thousands of branches across the country, connecting hundreds of thousands of consumers to safe financial products that meet their needs.
Ready for your account to be Bank On certified?
Get to know the details about how you can benefit from Bank On certified accounts.Bank On certified accounts are safe, affordable and bring unbanked Americans into the financial mainstream. The CFE Fund is proud to partner with FIS to help banks offer Bank On certified products. Banking access is fundamental to financial stability. Expanding that access is critical to helping consumers, particularly those of color, build stronger futures.”
What are the benefits of offering a certified Bank On account?
FIS Bank On offers benefits that include:
Community opportunities
- Public recognition both locally and nationally highlighting your product
- Eligibility for local programs that rely upon certification to connect your account to consumers
- National Bank On certification seal of approval for marketing outlets
Sustainable consumer base
- Reach new customers in your community who are un- and underbanked and bring them into the financial mainstream
- Deliver a product with features that are in demand
- Sell your product through public and community banking access programming
Community reinvestment act (CRA) credit
- Products certified as meeting Bank On National Account Standards have been called out by banking regulators as eligible for the Community Reinvestment Act
- Streamlined reporting through the Federal Reserve Bank of St. Louis Bank On National Data Hub