JACKSONVILLE, Fla.--(BUSINESS WIRE)--FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, today announced it has signed more than 20 agreements for wealth management solutions this year.
For more than 30 years, FIS’ wealth management solutions have provided trust management and administration, accounting and reporting to over 200 financial services clients. An industry-leading offering powered by TrustDesk® and InvestEdge®, FIS’ wealth management front-office and investment solutions process more than $800 billion in assets on over 500,000 accounts daily. The comprehensive integrated platform includes portfolio management, performance and compliance, trust technology outsourcing and business operations outsourcing.
First Farmers and Merchants Bank of Columbia, Tenn., is just one of FIS’ newest wealth management clients. Founded in 1909, First Farmers and Merchants Bank has 20 branches and assets of more than $1 billion. The bank expanded its existing relationship with FIS to add the wealth management platform to enhance its operational efficiency and empower it to compete more effectively for high net-worth customers through enhanced customer service and reporting capabilities.
First Farmers and Merchants Bank will deploy the full TrustDesk wealth management platform, including InvestDesk portfolio management, ReturnTrack® performance measurement, Annual Review Suite for compliance and Client Point Web portal. By using the entire TrustDesk suite, First Farmers wealth advisors and investment experts will be able to provide existing customers with a greater degree of advanced investment services including real-time access to account data, advanced reporting capabilities, faster processing capabilities and information access through the industry’s most advanced Web portal.
“For more than a century First Farmers and Merchants Bank has served the people of Columbia and neighboring counties,” said John Tomlinson, chief administrative officer, First Farmers and Merchants Bank. “To stay competitive and ensure that our customers have the best possible service we continue to find ways to improve our offerings. Teaming with FIS will enable us to serve our existing customers through a comprehensive wealth management offering while driving continued growth.”
“Our clients continue to deepen their relationship with FIS by expanding their existing solutions and adding new ones,” said Anthony Jabbour, executive vice president, FIS Financial Solutions Group. “FIS’ extensive offerings span the entire breadth of financial services and enable FIS to provide the industry-leading solutions that allow our clients to expand functional capabilities and manage IT investments. The ability to leverage existing relationships to undertake these strategic initiatives is a win-win for FIS and the institutions we serve.”
FIS (NYSE: FIS) is the world’s largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 32,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. First in financial technology, FIS tops the annual FinTech 100 list, is 425 on the Fortune 500 and is a member of Standard & Poor’s 500® Index. For more information about FIS, visit www.fisglobal.com.
This news release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company’s Form 10-K and other filings with the Securities and Exchange Commission.