FIS Recognizes Ten Clients for Innovation in 2019 Impact Awards
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.
The 2019 winners are:
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
“Congratulations to the winners of our third annual FIS Impact Awards
“We were impressed by the quality of this year’s field of winners and
the innovation they showed in their technology projects,” said
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 Paribaswon 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 Paribasor 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.
- CIBCwas 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 billionin deposits and more than 30,000 customers in its first six months of operation through the end of 2018.
Capital Management, based in
New York City, won for its use of FIS Front Arenatrading 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 Administrationplatform, 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 & Deckerwas 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 15,000 clients in over 130 countries.
Kim Snider, 904.438.6278
Senior Vice President
FIS Global Marketing and Communications