Merchants Banking Capital Markets Corporates Developer Insights About Careers CLIENT STORY The Journey From Consolidation to Modernization Empowering a Long-term Retirement Client A premier U.S. insurance provider and long-time FIS® client was on a highly customized, 10+ year old release of our retirement recordkeeping platform. They were also operating three independent recordkeeping platforms that were the result of acquisitions and siloed IT strategies. The multiple systems were costly and cumbersome to maintain and upgrade, preventing scale and extending the time to market for new enhancements and features. The client engaged FIS to sunset their 10+ year-old platform while simultaneously migrating to a hosted model and taking full ownership of their back-end recordkeeping infrastructure support. By converting to the latest release with modernized capabilities, the client can focus their attention and resources on their digital engagement strategy, and their new investor and plan sponsor portals. At a Glance OBJECTIVE Consolidate multiple costly platforms to a hosted, modernized solution, enabling focus on the digital experience FIS SOLUTIONS FIS Retirement Services and Solutions RESULTS The client set out to increase their operational efficiencies, reduce their costs, and focus on executing their digital strategy and user experiences. FIS® was able to help significantly reduce future upgrade and maintenance costs by consolidating multiple platforms and taking over full support of their infrastructure, streamlining their operations while allowing them to leverage a modernized platform. Impact Working with FIS®, the client was enabled to maintain control of brand and digital experience while simultaneously outsourcing recordkeeping hosting, upgrade, security and disaster recovery costs. The client eliminated costly duplicative platform maintenance by moving to a hosted solution. By migrating to latest release, the client was able to retire large quantities of custom code without loss of functionality. $ 1 M+ reduction in upgrade costs 20 + custom COBOL programs retired 12 k+ lines of code eliminated Related Client Stories Global Tier 1 Bank When it came to supporting millions of monthly transactions across 40 countries, one leading global Tier 1 bank looked to FIS to host and manage all aspects of its reconciliations operations. The result was 1,250 percent growth in reconciliation volumes without new IT spend. Transforming Corporate Actions Processing A large, global bank recognized it’s corporate actions function could present a significant financial and reputational risk. Like many complex financial services organizations, this bank’s approach to corporate actions processing included functions such as event creation and processing, middle-office corporate actions, proxy voting and class actions. With our decades of experience, FIS was the team with intellectual property and the in-house expertise the bank needed. Wintrust See how Wintrust is leveraging FIS Code Connect to maintain a community bank customer experience while enhancing operational efficiency. Let's Talk Together, we can work to solve your business goals. Feel free to call +1 877.776.3706 now or provide your email address below and a representative will reach out to you soon. Contact Us ADVANCING THE WAY THE WORLD PAYS, BANKS AND INVESTS Let's start a conversation Let's work together to reach your goals. Contact us at the links below and a representative will be in touch. EMAIL US getinfo@fisglobal.com CALL US +1 877.776.3706 HEADQUARTERS Jacksonville, Florida United States STAY CONNECTED Get in touch We are here to help you and your business. Contact us using the button below. Learn More Merchants Banking Capital Markets Corporate Developer Insights About Careers Privacy Policy Cookies Terms of Use Login Contact Us ©2021 FIS. Advancing the way the world pays, banks and invests™ We use cookies to improve user experience, personalize content, customize advertisements, and analyze website traffic. For these reasons, we may share your site usage data with our social media, advertising, and analytics partners. By clicking ”Accept”, you agree to our website's cookie use as described in our Cookie Policy. You can change your cookie settings at any time by clicking “Preferences.” Decline Accept Manage Cookie Preferences