Global financial technology provider FIS has introduced its Asset Servicing Management Suite, an integrated platform designed to automate and streamline critical asset servicing functions, aiming to improve operational efficiency for financial institutions.
The new suite combines traditionally separate functions including corporate actions processing, proxy voting, class action claims, operational claims, and tax reclaim management. This integration aims to create a seamless experience for capital investment and underscores FIS’s commitment to advancing financial technology.
Asset servicing operations currently face challenges such as reliance on multiple vendors, which can lead to fragmented data, inefficiencies, and increased risk of errors. This fragmented infrastructure also hinders cost control and operational agility, potentially impacting client satisfaction.
The FIS Asset Servicing Management Suite addresses these issues by offering a single, integrated platform that provides transparency and control throughout the entire asset servicing lifecycle. By consolidating functions and minimizing data fragmentation, the suite aims to deliver more accurate and streamlined data for better insights. The automation of workflows previously requiring manual intervention allows institutions to reallocate resources towards strategic initiatives.
Additional benefits of the suite include reduced risk, enhanced decision-making capabilities, improved cost efficiencies, and an elevated overall client experience.
Matt Stauffer, head of Back Office Solutions at FIS, commented on the impact of operational inefficiencies: “Operational inefficiencies in asset servicing directly translate to real financial losses for everyday investors. When corporate actions are processed incorrectly or proxy votes fail to reach their intended destination, or qualification to participate in class action opportunities are not identified, it is not just institutions that suffer – it is also the customers whose pensions and savings depend on these systems working flawlessly.” He added that the suite helps eliminate the fragmented post-trade infrastructure contributing to these risks, thereby enhancing operational efficiency across asset servicing.
