FIS Recognizes Ten Clients for Innovation in 2019 Impact Awards
April 17, 2019
- Winners are Avidia Bank, BNP Paribas, CIBC, Citizens Bank, ExodusPoint Capital Management, MassMutual, Origin Bank, Slavic Integrated Administration, Stanley Black & Decker, and The Clearing House.
- The awards program recognizes organizations that are using FIS technology in innovative ways to better serve customers and drive tangible business results.
- Independently judged by Celent, awards are being presented at FIS’ annual client conferences starting this week.
JACKSONVILLE, Fla., April 17, 2019 – FIS™ (NYSE: FIS), a global leader in financial services technology, today announced ten client winners of the 2019 FIS Impact Awards program. Independently judged by industry analyst group Celent, the Impact Awards recognize organizations that are using FIS technology in innovative ways to better serve their customers and drive tangible business results.
The 2019 winners are: Avidia Bank, BNP Paribas, CIBC, Citizens Bank, ExodusPoint Capital Management, MassMutual, Origin Bank, Slavic Integrated Administration, Stanley Black & Decker, and The Clearing House.
Entries were judged by Celent on the criteria of applied innovation, tangible return on investment and enhanced customer service. For each of the winning entries, the FIS Foundation is making a $10,000 donation in the client’s name to charitable organizations designated by the clients.
“Congratulations to the winners of our third annual FIS Impact Awards program,” said Gary Norcross, chairman, president and CEO, FIS. “Each of these clients has demonstrated exceptional creativity in their application of FIS technology to drive business growth and enhance the customer experience. We are thrilled to recognize their success, while also giving back to the community.”
“We were impressed by the quality of this year’s field of winners and the innovation they showed in their technology projects,” said Dan Latimore, senior vice president, Banking, Celent. “From creative use of application programming interfaces (APIs) and agile software development to robo-advisory services and digital user experience, these organizations are truly on the leading edge of the application of financial technology.”
The following winning client projects are being recognized at the FIS 2019 client conferences starting this week:
- Avidia Bank, a Massachusetts-based bank known for providing payment services to its fintech partners, won for its use of FIS APIs and the NYCE payment network to speed settlement of payments for merchant processors. Avidia’s solution, called Instant Merchant Settlement, has helped its merchant customers enhance liquidity, while also providing the bank with a new source of fee income.
- BNP Paribas won for its use of FIS Margin Advisor to offer its clients what-if analysis and real-time portfolio margin simulation for positions cleared with BNP Paribas or third-party clearing brokers. Using an agile development process, the bank was able to implement the solution in just nine months, enhancing its client experience and product offering.
- CIBC was recognized for its use of FIS APIs and ConnectWare services to provide seamless banking services to its Canadian customers working or living in the U.S. The CIBC Bank USA Smart Account enables online account opening, direct deposit, real-time transfers, bill-pay, and surcharge-free ATM access for customers on both sides of the border.
- Citizens Bank, one of the largest financial institutions in the U.S., was recognized for its highly successful 2018 launch of its direct-to-consumer bank Citizens Access. Powered by a modern FIS core banking plaform, Citizens Access provides a superior customer experience that enabled it to grow to $3.0 billion in deposits and more than 30,000 customers in its first six months of operation through the end of 2018.
- ExodusPoint Capital Management, based in New York City, won for its use of FIS Front Arena trading and connectivity technology to support the launch of its hedge fund in 2018. Up and running within four months, ExodusPoint’s FIS system supports a comprehensive set of asset classes across fixed income and equities via an open, flexible architecture.
- MassMutual, a leading mutual life insurance company, won for its use of FIS technologies to create an enhanced, mobile-enabled portal for consumers with immediate and deferred annuity pensions. The new solution has improved the customer experience by providing access to verification of income forms, change of address and direct-deposit capability, and soon, client-specific benefit calculation capabilities that will reduce the time-consuming and manual process of providing estimated payouts and payment options.
- Origin Bank, a regional community bank headquartered in Louisiana, was awarded for its work with FIS and partner MX to roll out a new personal financial management (PFM) product. The new solution, launched in just eight months, provides customers an integrated view of all of their financial accounts and allows them to create budgets and manage expenses via the web or an app.
- Slavic Integrated Administration, a leader in retirement services, won for its launch of Slavic Bespoke, a robo-advisor that delivers customized advice to 401(k) plan participants on where and how to invest their funds. Integrated with the FIS Relius Administration platform, Bespoke is used by nearly half of all new enrollments and provides a recommended deferral rate and asset allocation. Eighty percent of the users are either Gen X or millennial cohorts.
- Stanley Black & Decker was recognized for its work with FIS on a complex project to centralize more than 100 enterprise resource planning systems into a centralized treasury management and payment system. Using FIS’ Quantum and Trax solutions, the company was able to automate manual processes, increase visibility into cash flow, and enhance liquidity and reporting.
- The Clearing House (TCH), which operates U.S. core payment systems including the breakthrough RTP® network, was recognized for its use of FIS technology to accelerate testing and certification for participants in the new immediate payments network. Using FIS technology, participating financial institutions can independently perform a wide range of tests fully unattended and complete the testing and certification in as little as two weeks.
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 47,000 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.
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