JACKSONVILLE, Fla.--(BUSINESS WIRE)--With the financial industry’s most robust set of risk and compliance solutions, FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, consulting and outsourcing solutions, continues to provide companies innovative and robust solutions to mitigate risks across their organizations.
In response to increasing regulatory demands to enhance enterprise risk management and regulatory compliance, FIS offers Early Risk Manager to financial institutions. Early Risk Manager is a turnkey, secure, cloud-based, next generation solution specifically tailored for financial institutions with a risk dashboard, pre-populated library of risks, risk scenarios, controls, risk assessment templates, metrics, key risk indicators (KRIs), key performance indicators (KPIs), issue management tools, compliance monitoring and testing, third party risk management and more.
“Effective risk management is the ability to identify and mitigate risks before they become material and negatively impact earnings, capital or reputation,” said Sai Huda, senior vice president and general manager, Enterprise Governance, Risk & Compliance (EGRC) Solutions, FIS. “We are delighted to add to the value proposition FIS presents to financial institutions by helping them manage risks proactively with this turnkey solution.”
Early Risk Manager contains a robust risk dashboard for the board of directors, senior executives, line-management, risk management and compliance; a library of over 450 KRIs and KPIs; and more than 1,800 compliance monitoring and testing checklists, covering all regulations and easily importing data from core processing and other systems to transform information into actionable risk intelligence. It also can be quickly configured to fit the needs of any financial services company and can be securely accessed anywhere, anytime via the cloud.
Early Risk Manager provides a more effective and efficient method to manage risks across an enterprise, ensure regulatory compliance, and meet regulatory demands and enhanced scrutiny. This makes it a natural fit for FIS’ large client-base of financial institutions as well as the industry at large.
FIS provides enterprise governance, risk and compliance solutions to more than 5,000 financial institutions across the country, using best-practices-based modeling that ensures enterprise risk management and regulatory compliance proficiencies now and in the future. Its combination of more than 250 risk management experts across all areas of risk and proven tools have made it a highly-trusted resource for financial institutions as well as the regulatory agencies, who rely on FIS’ experts and solutions for their own training needs. FIS provides ongoing training to federal and state banking agency examiners via its team of subject matter experts, comprised of former regulators and other industry experts, as well as its next generation online training solution, Regulatory University.
FIS’ comprehensive suite of software solutions – including Early Risk Manager, Compliance Risk Indicator, Prime AML, CallReporter, Regulatory University and more – enable institutions of all sizes to mitigate risk across the enterprise.
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 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.
Statements in this release that are not strictly historical, including any statements referring to beliefs, expectations, projections, or any other statement regarding events or developments we believe or anticipate will or may occur in the future, may be “forward-looking” statements made pursuant to the safe harbor provisions of federal securities laws. There are a number of important factors that could cause events to differ materially from those suggested or indicated by such forward-looking statements. These include, among other things, changes in general economic, business and political conditions, developmental and conversion delays or disruptions inherent with new software products and technology, and risks of reduction in revenue from the elimination of existing and potential customers due to consolidation in or new laws or regulations affecting the banking, retail and financial services industries, changes in the growth rates of the markets for our solutions, and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company’s Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this release, and FIS does not assume any obligation to update any forward-looking statement.