These annual awards, independently judged by leading industry analyst research group Celent, recognize FIS clients in the United States and Canada that are using FIS technology or services in innovative ways to better serve their customers and drive tangible business results.
For each of the winning entries, FIS is making a $10,000 donation in the client’s name to a charitable organization chosen by the client through the FIS Foundation.
“Every day we hear of the innovative ways that FIS clients are using our technology to achieve their business goals and better serve their customers,” said Gary Norcross, president and CEO, FIS. “We created the FIS Impact Awards to recognize this spirit of innovation and spotlight our clients that are doing truly unique things in their markets using FIS technologies and services.
“I would like to congratulate the winners, each of whom reflects the work being done by our clients around the world,” Norcross added. “Inspiring a passion to act and giving back to the community are two of FIS’ Guiding Principles. The FIS Impact Awards are a great example of how we are bringing these principles to life every day with our clients.”
“We were impressed by the tremendous amount of ingenuity that banks, asset managers and corporations showed in applying FIS technology to solve pressing business problems,” said Dan Latimore, senior vice president, Banking, Celent. “These firms took the initiative to embark on innovative programs that improved customer experiences and produced meaningful business results.”
Reflecting the full spectrum of organizations served by FIS, entries for the FIS Impact Awards were considered in the following categories: Banking & Wealth, Payments, Corporate, Buy Side, Sell Side, and Operational Excellence. Entries were judged by Celent on the criteria of applied innovation, tangible return on investment, and enhanced customer service.
The following clients are being recognized with awards at the annual FIS Connect Conference, being held this week:
Banking & Wealth Management: Core Transformation: Bank
Bank Leumi USA, the American arm of Israel’s largest bank, was recognized for its ambitious, highly successful core banking transformation initiative. The project replaced or upgraded more than 30 mission-critical applications into a state-of-the-art core banking and mobile banking system that went live in 2016. The initiative has lowered the bank’s total cost of ownership by more than $3 million annually, while improving client onboarding, loan origination and customer service.
Banking & Wealth Management: Online/Digital: Banco
Popular North America
Banco Popular North America was recognized for the successful launch of its new online-only bank, Popular Direct. Two months after launch, Popular Direct was raising more than $10 million in deposits per week despite being a new brand. To date, Popular Direct has opened close to 5,000 accounts with more than $500 million in deposits.
Greenphire, a global clinical trial payment solution provider, was recognized for its innovative use of prepaid debit cards as a mechanism for reimbursing clinical trial participants. The Greenphire ClinCard Solution has executed millions of payments to study participants, and automated a previously cumbersome and manual reimbursement process for clinical research staff.
Dana Incorporated, a world supplier of drivetrain, sealing and thermal-management technologies, was recognized for its successful implementation of FIS’ corporate liquidity credit and collections solution in its Accounts Receivable Department. The solution has allowed the department to reduce past due collections by 80 percent, AR reserves by 45 percent and customer adjustments by 65 percent, while enabling cash application within 48 hours with a 75 percent auto-match hit rate.
Buy Side: Cargill
Cargill Risk Management, the derivative trading business of the largest privately held company in the United States, was recognized for its innovative use of FIS’ electronic trading solutions to implement a modern front-to-back platform for Cargill’s derivatives trading business. The initiative has reduced total cost of ownership while allowing Cargill to better meet industry standards and support business needs.
Operational Excellence: Credit
Suisse Holdings USA
Credit Suisse Holdings (USA), the U.S. entity of the Swiss-based global financial institution, was recognized for its transformational migration of hundreds of operational and technology processes from in-house to an FIS-hosted utility model. The effort – which was executed seamlessly to its stakeholders – has enhanced its service to its buy-side clients while reducing total cost of ownership.
The following community bank clients will be recognized with awards at the annual FIS InfoShare Conference on May 22-25:
Banking & Wealth Management: First
National Bank of Granbury
First National Bank of Granbury is being recognized for its innovative use of digital and mobile technology to provide banking enhanced solutions and services to the elderly within the retirement community of Granbury, Texas.
Operational Excellence: First
Citizens National Bank
Using a range of FIS fraud and risk solutions and services, Tennessee-based First Citizens National Bank established an enterprise risk and fraud detection system to support its centralized Fraud and Compliance Management Division, dedicated to detecting and combating fraud – rare for a bank of its size.
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, consulting, 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 55,000 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.