FIS and Oracle Collaborate to Revolutionize Utility Billing and Payment Solutions
FIS® (NYSE: FIS), a global leader in financial technology, has teamed up with Oracle to enhance billing and payment capabilities within the utility sector, including electricity, gas, water, and other essential services. The collaboration features FIS’s BillerIQ solution, which runs on Oracle Cloud Infrastructure (OCI), offering utility customers a flexible, digital-first approach to managing their bills.
By leveraging OCI, the FIS BillerIQ solution will provide utilities with efficient, secure, and seamless billing—from meter consumption to payment. This partnership aims to modernize the utility industry by enabling electronic bill delivery and streamlining the entire billing process. With Oracle managing billions of utility bills annually, the solution ensures the flow of money is efficient and secure, while offering customers the flexibility to manage their utility payments according to their financial preferences.
Despite the high costs and inefficiencies of traditional payment methods, 75% of organizations still rely on paper checks for bill payments. The BillerIQ solution, powered by OCI, offers a better alternative by simplifying and securing digital payments. The platform supports a wide range of payment options, including ACH, credit, debit, real-time payments, and digital wallets, enabling utility companies to meet the diverse needs of their customers across various industries.
Seamus Smith, Group President of Global Automated Finance at FIS, emphasized the industry’s shift toward digital payments. “The utility sector has long relied on traditional payment methods, but with innovations like smart meters and mobile banking, consumers now expect to pay bills digitally. Paper checks introduce inefficiencies and fraud risks, which is why our collaboration with Oracle is so important. Together, we aim to digitize the sector, enhancing convenience for customers and helping utilities stay competitive.”
Mark Hura, Executive Vice President of North America Cloud Infrastructure at Oracle, shared his perspective on the collaboration. “Our goal is to simplify the payment process for utility customers. FIS chose Oracle Cloud Infrastructure for its superior performance, global reach, and secure, non-blocking networks. With our deep experience in the utilities sector, we understand the importance of reliability and security in delivering a seamless user experience.”
OCI offers significant price-performance advantages, built-in security features, and ultra-low latency networks, enabling applications like BillerIQ to easily migrate to the cloud. With flexible infrastructure and microsecond latency clusters, OCI ensures that businesses can scale their operations with higher security and performance. Oracle’s distributed cloud provides customers with 150+ AI and cloud services across public, dedicated, and hybrid environments, ensuring global reach.
BillerIQ delivers an intuitive, fully hosted, secure, and compliant SaaS platform for businesses to deliver bills and accept payments across various digital channels. It helps companies lower operational costs, enhance efficiency, and improve customer satisfaction through advanced configurability, easy integration, and powerful capabilities.
With this collaboration, FIS and Oracle are leading the way in transforming the utility industry’s billing and payment systems, delivering a modern, digital experience for both utility providers and their customers.
FIS is a leading global provider of financial services technology solutions for financial institutions, businesses and developers. We improve the digital transformation of our financial economy, advancing the way the world pays, banks and invests. We provide the confidence made possible when reliability meets innovation, helping our clients run, grow and protect their business. Headquartered in Jacksonville, Florida, FIS is a member of the Fortune 500® and the Standard & Poor’s 500®. FIS is incorporated under the laws of the State of Georgia as Fidelity National Information Services, Inc., and our stock is traded under the trading symbol “FIS” on the New York Stock Exchange.
