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JACKSONVILLE, Fla., Nov. 28, 2018 – FIS™ (NYSE: FIS), a global leader in financial services technology, announced today that it has been named Technology Vendor of the Year by Risk Magazine in its annual Risk Awards.
FIS also won Market Risk Management Product of the Year, Counterparty Risk Product of the Year and XVA Calculation Product of the Year in the Risk Magazine Market Technology Awards.
The awards, presented at a ceremony in London, were judged by members of Risk Magazine’s editorial team and industry leaders, and represent some of the most prestigious risk awards in the industry.
The recognition follows FIS’ recent number one ranking in the Chartis RiskTech100 and for Overall Risk Management in the Asia Risk Awards.
“FIS is focused on continually bringing to market innovative, leading-edge solutions that help financial institutions worldwide better manage and respond to risks within their business and industry,” said Marianne Brown, co-chief operating officer, FIS. “We are honored by this recognition as it speaks to the quality of our solutions and our continued investments in this critical market area.”
FIS is a global leader in financial services technology, with a focus on retail and institutional banking, payments, asset and wealth management, risk and compliance, and outsourcing solutions. Through the depth and breadth of our solutions portfolio, global capabilities and domain expertise, FIS serves more than 20,000 clients in over 130 countries. Headquartered in Jacksonville, Fla., FIS employs more than 52,000 people worldwide and holds leadership positions in payment processing, financial software and banking solutions. Providing software, services and outsourcing of the technology that empowers the financial world, FIS is a Fortune 500 company and is a member of Standard & Poor’s 500® Index. For more information about FIS, visit www.fisglobal.com.
Omitted from the framework is any mention of changing 401(K) plan contributions to after-tax roth contributions, either in whole or in part."
I don�t think anyone wakes up in the morning, and brushes their teeth, thinking about merchant processing. But the team at FIS does."
It has been estimated that �Rothification� of contributions could raise more than $600 billion over 10 years. The estimate is suspect, however, because it does not consider the future loss of tax revenue when Roth amounts are withdrawn from plans tax free. Earlier tax reform proposals included Rothification provisions that were broadly opposed by the retirement plan community and many key members in Congress. Sixteen Democrats in Congress recently sent a letter to the Big Six urging them to resist using Rothification as a revenue raiser. While it currently seems that such an approach is off the table, tax reform is tricky business and will be full of twists and turns as it proceeds. The current political environment is unpredictable and if you thought health care reform was complicated, this endeavor may make it look like child�s play.