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June 9, 2020

FIS adds data insights with new wealth management platform

By Patrick Brusnahan

Financial technology firm FIS has launched a wealth management platform, FIS Unity, that gives wealth managers data and insights.

FIS Unity utilises open application programming interfaces (APIs) to provide wealth mangers with a view of a client across multiple providers.

With the platform, wealth managers can gain insights into their clients’ investment history, lifestyle changes, and investing preferences. As a result, managers can offer personalised investment recommendations and meet current and future needs.

Furthermore, FIS Unity uses advanced data analytics with fully integrated workflows to automate and streamline processes, enhance efficiency, and lower operational costs.

FIS states the solution is appropriate for wealth management firms, wealth divisions of banks, trust companies, custodians, and brokerage firms.

“Unprecedented levels of market volatility have made it more important than ever that wealth managers and advisers have a complete, accurate picture of their clients’ assets and remain connected anytime and anywhere,” said Brian DuVal, head of wealth and retirement at FIS.

“During this time, investors still expect accurate, insightful guidance when they need it, and the Unity solution prepares advisers with a rich, holistic view of their clients’ assets.”

AMG National Trust Bank is a firm that has chosen to implement FIS Unity.

“We serve multiple generations of clients who all have very different expectations when it comes to investing,” said Don Seacrest, SVP Operations at AMG National Trust Bank.

“By modernising our wealth management system on the FIS Unity platform, we will be better able to address those differing needs and grow those relationships.”

First Republic Bank has also selected an FIS platform as part of its core banking modernisation programme to support growth.

The California-based lender will deploy FIS IBS platform to meet the needs of its consumer and business customers.

The FIS platform will help the bank to automate key manual processes and utilise data analytics to meet customer requirements.

Additionally, First Republic Bank can integrate third-party solutions through the FIS Code Connect ecosystem of open application programming interfaces.

Established in 1985, First Republic Bank offers personal, business and private wealth management services.

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