With Retirement as a Service, FIS is transforming the way the retirement industry works at every level, helping providers accelerate growth, increase organizational efficiency and deliver greater value to their plan sponsors and members.
LOS ANGELES (PRWEB)
07 April 2022
FinTech Breakthroughan independent market intelligence organization that recognizes the best companies, technologies and products in the global fintech market, today announced that it has selected fintech leader FIS® (NYSE: FIS), as the winner of the award “Best Employee Benefits Solution” in the sixth annual FinTech Breakthrough Awards program, recognizing the “breakthrough” innovation of the new FIS Retirement as a Service platform.
FIS’ recently launched Retreat as a Service serves as a modern microservices-based ecosystem that offers a wide range of flexible solutions – from rich CX options, data insights and machine learning to maintenance of base – all complemented by IT and business process services. .
With a single modern platform, data is consolidated, making it more manageable, secure and useful. A global data store enables real-time analytics that can be used to improve data-driven decisions. Open integration allows companies to transform their services by creating platform-wide connection points. Additionally, the platform uses the FIS API Marketplace, offering APIs available on FIS and partner solutions that can be easily subscribed, accessed, augmented and integrated.
Connected and secure digital products, accelerators and innovative solutions serve all players in the retirement value chain – the member, the plan sponsor and the advisor – with product delivery support, innovation, out-of-the-box digital CX and automation. Key features include: banking and payment capabilities, state-of-the-art security and fraud prevention, and banking and wealth information engine.
Additionally, the platform’s IT support model provides technology-based business processes, application services, and infrastructure solutions. With FIS expertise, suppliers can focus their resources on their own unique strategies. The Business Process Services function provides transactional, compliance, and other administrative processes that each pension plan provider must administer.
“The retirement landscape is changing rapidly, driven by shifting demographics, digital engagement and changing workforce standards – and investors are demanding a reimagined retirement planning experience in as part of their benefits package,” said James Johnson, chief executive of FinTech Breakthrough. . “With Retirement as a Service, FIS is transforming the way the retirement industry operates at every level, helping providers accelerate growth, increase organizational efficiency and deliver greater value to their plan sponsors and members. . Congratulations to the FIS team on their well-deserved award in our 2022 FinTech Breakthrough Awards program.”
The FinTech Breakthrough Awards are the premier awards program created to recognize FinTech innovators, leaders and visionaries around the world in a range of categories including Digital Banking, Personal Finance, Lending, Payments, Investments , RegTech, InsurTech and many more. The 2022 FinTech Breakthrough Award program attracted over 3,950 nominations from around the world.
“We are thrilled to accept this award from FinTech Breakthrough. We have truly set out to redesign the retirement planning experience for our clients, plan sponsors, advisors and investors with a focus on bringing new efficiencies to reduce costs, increase satisfaction and accelerate digital transformation,” said Brian DuVal, President of US Banking, Wealth and Retirement business at FIS. “The FIS Retirement as a Service (RaaS) delivery model is highly configurable providers can refocus on relationship-based interactions and improve investor outcomes, while removing risk and complexity from their technology and operations management.”
About FinTech Breakthrough
Part of Technological breakthrough, a leading recognition and market intelligence platform for technology innovation and leadership worldwide, the FinTech Breakthrough Awards program is dedicated to recognizing business and product excellence in technologies and financial services. The FinTech Breakthrough Awards publicly recognize the achievements of FinTech companies and products in categories including Payments, Personal Finance, Wealth Management, Fraud Protection, Banking, Lending, RegTech, InsurTech and Moreover. For more information, visit FinTechBreakthrough.com.
FIS is a leading provider of technology solutions for traders, banks and capital markets firms worldwide. Our people are dedicated to advancing the way the world pays, banks and invests by applying our scale, deep expertise and data-driven insights. We help our customers use technology in innovative ways to solve critical business challenges and deliver superior experiences to their customers. Based in Jacksonville, Florida, FIS is a Fortune 500® company and is a member of the Standard & Poor’s 500® Index. To learn more, visit fisglobal.com. Follow FIS on Facebook, LinkedIn and Twitter (@FISGlobal).
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