FIS Launches Ethos Data Ecosystem Unlocking Data Insights
- Ethos is an innovative data ecosystem that will support every aspect of data management, products and solutions for financial institutions.
- Ethos products will provide data insights and unified views of a client’s data across multiple channels.
An institution’s data portfolio is often segmented across channels, such as credit, debit, fraud, core and loyalty. The Ethos ecosystem unifies and maintains those data assets in a single platform environment which will be accessed simply via a user-friendly portal for application and analysis.
“Our goal with Ethos is to turn data into highly-refined and actionable intelligence for our partners,” said
The first tools within the Ethos platform include Current Expected Credit Losses (CECL) View and Tax Intelligence. Ethos CECL View helps financial institutions fulfill the new financial reporting requirements introduced by the CECL regulations, whose standards require institutions to estimate their credit losses over the life of their loans and book the losses upfront. CECL View enables financial institutions to seamlessly perform this predictive modeling on an outsourced basis.
“Ethos CECL View is an affordable, turnkey solution that gives financial institutions assurance that their forecasts are compliant, while preventing the severe costs that come with the significant operational lift required to prepare for CECL,” Legters said. “Additionally, in volatile times like we are in right now due to the COVID-19 pandemic, knowing where an institution stands with regard to expected credit loss is critical to staying competitive in the market.”
Also within Ethos, Tax Intelligence enhances lenders’ underwriting efforts by providing real-time identity verifications and one touch requests for income verifications, tax returns,
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
Senior Vice President