FIS Selected to Streamline Reconciliations for Australia's Largest Bank

Key facts:

• Commonwealth Bank of Australia (CommBank) is adopting FIS Data Integrity Manager to consolidate and automate reconciliation across the bank.
• Delivered in a SaaS model, the solution will process over 150 million transactions daily on a single, unified platform, enhancing operational efficiency and scalability.
• FIS is delivering the solution via Microsoft Azure, providing cloud-native scalability and seamless third-party integrations.

JACKSONVILLE, Fla.--(BUSINESS WIRE)--Global financial technology leader FIS® (NYSE: FIS) has been selected by the Commonwealth Bank of Australia (CommBank), the nation's largest bank, to streamline reconciliations through FIS Data Integrity Manager. In a banking environment, reconciliation ensures financial accuracy by verifying millions of daily transactions across complex systems. The fully-hosted solution will process over 150 million transactions per day.

FIS Data Integrity Manager delivers a modernized platform that supports the automation and management of all reconciliations across the enterprise. The platform uses real-time visibility and insights for more informed decision making, with automated alerts for discrepancies and a unified view across business lines—enabling teams to identify and resolve issues in minutes.

Delivered as Software as a Service (SaaS) via Microsoft Azure, upgrades to the solution will be managed by FIS, to support faster delivery of new capabilities. The platform's high-performance architecture enables the processing of exceptionally large data volumes in minutes rather than hours.

The engagement also leverages FIS' enterprise-grade risk, security, and compliance capabilities, including SOC1 and SOC2 certifications¹, while supporting CommBank's federated software architecture.

Andrés Choussy, President, Capital Markets at FIS, said: “FIS is proud to partner with CommBank to deliver a cutting-edge reconciliation solution that meets the demands of a rapidly evolving financial landscape. By bringing reconciliation onto a single, intelligent platform, we are enabling CommBank to unlock seamless integration and operational efficiency while ensuring the stability, security, and compliance essential to supporting Australia's largest bank.”

David Pont, General Manager Financial Control & Transformation, Commonwealth Bank, said: “This implementation reflects our focus on investing in technology to continue to strengthen operations to ultimately benefit our customers. With FIS Data Integrity Manager, as a strategic partner we gain a platform that can scale with our business and support our continued growth.”

This strategic partnership highlights FIS’ leadership in financial technology innovation, showcasing its ability to help clients manage money seamlessly as it moves through the global economy.

About FIS

FIS is a financial technology company providing solutions to financial institutions, businesses, and developers. We unlock financial technology to the world across the money lifecycle underpinning the world’s financial system. Our people are dedicated to advancing the way the world pays, banks and invests, by helping our clients to confidently run, grow, and protect their businesses. Our expertise comes from decades of experience helping financial institutions and businesses of all sizes adapt to meet the needs of their customers by harnessing where reliability meets innovation in financial technology. Headquartered in Jacksonville, Florida, FIS is a member of the Fortune 500® and the Standard & Poor’s 500® Index. To learn more, visit www.fisglobal.com. Follow FIS on Facebook, LinkedIn and X.

¹ SOC1 (System and Organization Controls 1) and SOC2 (System and Organization Controls 2) are independent audit reports that verify a service provider's internal controls. SOC1 focuses on controls relevant to financial reporting, while SOC2 evaluates controls related to security, availability, processing integrity, confidentiality, and privacy.