FIS Completes Acquisition of Reliance Financial Corporation
JACKSONVILLE, Fla.--(BUSINESS WIRE)--FIS™ (NYSE:FIS), the world’s largest provider of banking and payments technology, outsourcing and consulting solutions, today announced that it has completed its acquisition of Reliance Financial Corporation, including its subsidiaries Reliance Trust Company, Reliance Trust Company of Delaware and Reliance Integrated Solutions LLC.
“The combination of the two companies enables FIS to more quickly expand FIS’ capabilities in the retirement and trust markets, and create new efficiencies for our clients through additional BPO offerings – giving FIS the most flexible outsourcing solution set in the trust, wealth management and retirement industry.”
Acquired by FIS subsidiary FIS Wealth Management Services, Inc., the transaction creates a full-service wealth management and retirement offering encompassing technology, selective operational functions, full back-office operations outsourcing, and retirement trust and fiduciary services.
“The market continues to demand a full-service trust operations BPO solution and this acquisition demonstrates FIS’ commitment to meeting that need,” said Anthony Jabbour, executive vice president, FIS North America. “The combination of the two companies enables FIS to more quickly expand FIS’ capabilities in the retirement and trust markets, and create new efficiencies for our clients through additional BPO offerings – giving FIS the most flexible outsourcing solution set in the trust, wealth management and retirement industry.”
FIS is the world's largest provider of banking and payments technology, outsourcing and consulting solutions. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 110 countries. Headquartered in Jacksonville, Fla., FIS employs more than 39,000 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 434 on the Fortune 500 and is a member of Standard & Poor's 500® Index. For more information about FIS, visit www.fisglobal.com.
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