FIS Transforms Private Capital Suite Into SaaS Tool

Financial technology firm FIS says it has turned its Private Capital Suite into a cloud-native software-as-a-service (SaaS) solution.

FIS announced this change Tuesday (Sept. 23), adding that the tool had been “upgraded into a fully front-to-back solution” by integrating the company’s recently-launched Investor Services Suite.

“At its core, the Private Capital Suite is engineered to tackle the biggest challenges facing private equity today,” FIS said in a news release.

“By replacing manual processes with automation, harmonizing data flows, and supporting secure, real-time insights, the suite helps private equity firms deliver a modern, intuitive investor experience and maximize the performance of every dollar at work.”

The retooled offering is designed to provide a “flexible and scalable ecosystem” to help private equity managers with complex fund processing, the release added, while also bolstering anti-money laundering, know your customer (KYC), and investor onboarding capabilities.

“According to FIS’ recent Harmony Gap research, less than half of private equity firms feel confident and prepared when investing in their fintech strategies,” said Matt Stauffer, head of Back Office Solutions at FIS.

“The growth in private equity has brought complexities that include more intricate fund structures, multijurisdictional compliance, and higher investor expectations for transparency and digital access. Our reengineered Private Capital Suite helps clients adapt and thrive in this environment, exemplifying how FIS unlocks financial technology to the world through innovation and deep market expertise.”

PYMNTS spoke earlier this month with Wendy Tapia, head of product, receivables at FIS, about the mismatch facing companies as they try to balance the demands of modern markets and the tools they use to manage their most important functions.

“The reality is that the world is moving way faster than most companies can keep up pace with,” she said. “Because of legacy systems, there are still a lot of organizations that are stuck in heavily manual processes, very fragmented systems. Without realizing it, they are limiting their agility and ability to scale.”

What’s changed is that technology provides more than just faster processing, as functions like receivables and cash forecasting can now be more easily automated.

“CFOs can now move from making decisions that are quite reactive into making them more proactively,” Tapia said. “This technology now allows them to have near real-time visibility into receivables, cash, forecasts.”

“Clients with manual processes have about three hours of wasted time a day,” she added. “That is 780 hours per year per person. You could get a certification in AI with that time on your hands.”