FIS Launches Solution to Help Financial Institutions Serve Investors

Global FinTech company FIS has launched a solution designed to help financial institutions and fund managers serve investors.

The new FIS Investor Service Suite is designed to help users optimize customer onboarding and investor screening, automate the investor servicing lifecycle, improve operational efficiency and meet regulatory obligations, the company said in a Thursday (Aug. 14) press release.

The solution includes integrations to identity verification systems, customizable anti-money laundering (AML) and know your customer (KYC) capabilities, functional capabilities for cash management, and sophisticated fee engines, according to the release.

“Managing investor servicing processes has long been a pain point for fund managers and administrators, especially given increasing regulatory demands, cost pressures and client expectations for personalized services,” Matt Stauffer, senior vice president and group executive at FIS, said in the release. “By enabling greater levels of automation, financial institutions can streamline their investor servicing lifecycle and position themselves for long-term success in a highly variable environment.”

FIS CEO Stephanie Ferris said during the company’s Aug. 5 earnings call that banks, particularly small banks, are looking to FIS for help with their “modernization journey” and that the company has already put its clients in the cloud.

Ferris added the modernization is generally about componentization of the core.

“And in the larger financial institution standpoint, there is desire to do more componentized and come out with products and solutions and deliver value more quickly than a big bang core conversion,” Ferris said.

FIS partnered with Circle in July to help U.S. financial institutions transact in Circle’s USDC stablecoin.

The companies said at the time that the combination of FIS infrastructure solutions, including the FIS Money Movement Hub, and Circle’s stablecoin functionality will enable U.S. financial institutions to enable their customers to make domestic and cross-border payments in USDC.

In June, FIS and Visa expanded their partnership to offer new value-added payment capabilities to financial institutions of all sizes.

The new offerings will include stop payment services that enable cardholders and call centers to halt recurring payments to merchants, a wallet link that pushes an issuer’s branded digital card to the customer’s digital wallet and eCommerce fraud mitigation that gives issuers increased eCommerce transaction approval rates and helps eliminate the financial liability of chargebacks due to fraudulent purchases.