FIS Modern Banking Platform
Advance your bank with a modern core platform.
Client Story
Rebuilding Corporate Actions From the Ground Up
Empowering Global Corporate Actions
One large, global bank recognized that the firm’s corporate actions function could present a significant financial and reputational risk for the bank and had already led to more than $3 million in risk exposure and financial losses in the prior 12 months. The bank brought in FIS to evaluate its systems and processes far beyond just software with a focus on developing industry best practices and to support the strategic transformation of the corporate actions function.
At a Glance
OBJECTIVE
Modernize global corporate actions function and impart best practices for risk management.FIS SOLUTIONS
RESULTS
During a three-month investigation, FIS consultants found that the bank was incurring risk and financial losses stemming from manual, non-standard systems and inexperienced staff handling high-risk processes. We also found that the bank’s clients’ late responses and use of faxes contributed to increased risk exposure.Impact
For this client, working with FIS to transform its corporate actions organization resulted in the potential to save the bank over $12 million in just the first year.
staff interviews
processes reviewed
site visits
Their knowledge and expertise related to corporate actions is a huge strength."
The bank continues to work with FIS and its corporate actions consultants to further automate and streamline its processes