FIS (NYSE: FIS) announced a collaboration with Ericsson to develop a pre-integrated platform combining FIS payments and issuing capabilities with the Ericsson Fintech Platform, aimed at reducing the complexity organizations face when launching wallet-led financial services.

According to a press release, the combined platform would deliver payments, issuing, wallet infrastructure, and open APIs through a single connected system, allowing clients to deploy digital wallet experiences without building integrations across separate systems.

"Organizations want to bring wallet-led financial services to market faster, but too often they are slowed by fragmented infrastructure and complex integrations," said Stephanie Ferris, CEO and President of FIS. "By working with Ericsson, FIS wants to remove that friction with trusted capabilities that come connected across the money lifecycle, giving clients a faster, simpler path from idea to deployment."

Ericsson's fintech platform currently supports over 131 million active 90-day users and processes approximately $80 billion in monthly transaction value across 24 countries, according to the company. The platform is built on cloud-native, API-first architecture and includes wallet infrastructure, digital identity, ledger capabilities, and ecosystem orchestration.

"Fintech is a clear growth area for Ericsson as the evolution of connectivity and finance converges around mobile payments and wallet-led financial services," said Börje Ekholm, President and CEO of Ericsson.

The terms of the collaboration, including any financial arrangements, were not disclosed.