European Asset Servicing Leader CACEIS Streamlines International Payments with FIS Platform
September 02, 2020
- Leading European asset servicing firm selects FIS Open Payment Framework to comply with ISO 20022 and cross-border payment regulations.
- FIS’ solution provides CACEIS with an enhanced payment platform to streamline payment operations, reduce processing costs and provide a smooth payment experience.
JACKSONVILLE Fla., Sept. 2, 2020 – Financial technology leader FIS™ (NYSE:FIS) announced today that it has signed a long-term agreement with CACEIS, jointly owned by Credit Agricole S.A. and Santander, to provide the asset servicing firm with an enhanced payment hub to industrialize payment operations, reduce processing costs and provide a smooth payment experience.
With custodial assets of € 3.9 trillion, CACEIS is a leading provider of execution, clearing, securities lending, custody and fund services to asset managers and institutional and corporate clients worldwide. The firm was looking for a best-in-class platform to standardize its cross-border payments, while complying with ISO 20022 and other emerging payments standards.
CACEIS selected the FIS Open Payment Framework (OPF), an innovative real-time payments platform that supports ISO 20022 payments standards. In addition to ISO 20022, the platform will support SEPA Credit Transfer, Direct Debit and Instant Payments as well as SWIFT gpi and High-Value payments standards for CACEIS.
“It’s very important to CACEIS not only that we stay ahead of evolving regulatory requirements, but that we provide our clients with a modern, streamlined payment experience,” said Fabien Azavant, Chief Information Officer at CACEIS. “A single platform from FIS will enable us to do that in all our entities, while also streamlining costs and enhancing visibility of our international payments.”
“CACEIS joins a growing roster of organizations that are taking advantage of the advanced functionality of the FIS Open Payment Framework,” said Sandeep Gill, senior vice president, Banking Solutions and International Markets at FIS. “We look forward to working with this market leader to realize the benefits of deploying our payments platform.”
FIS is a leading provider of technology solutions for merchants, banks and capital markets firms globally. Our more than 55,000 people are dedicated to advancing the way the world pays, banks and invests by applying our scale, deep expertise and data-driven insights. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in Jacksonville, Florida, FIS is a Fortune 500® company and is a member of Standard & Poor’s 500® Index.
For more information
Kim Snider, 904.438.6278
Senior Vice President
FIS Global Marketing and Communications