Fidelity releases FIS Information Server 5.0.
13 December 2004 | 790 views | 0
Source: Fidelity National Financial
Fidelity National Financial, Inc. (NYSE:FNF), a Fortune 500 provider of products and outsourced services and solutions to financial institutions and the real estate industry, and its Fidelity Information Services Wealth Management ("FIS Wealth Management") division today announced the release of FIS Information Server 5.0.
FIS Information Server 5.0 is a robust Enterprise Information Integration (EII) solution that consolidates financial data to provide an enterprise-wide, client-centric view to a financial institution's wealth management applications. FIS Information Server 5.0 aggregates data from multiple back office systems and links to established service providers such as ADP, National Financial and NSCC. This provides a consolidated, holistic and enriched view of client holdings, including current and historical position, trade, bookkeeping and account balance information.
FIS Information Server 5.0 introduces aggregated data in a hierarchal structure for a complete view of household or group accounts down to client and sub-account levels. This enables organisations to establish information about the relationship between different accounts, registration types and other account holders and delivers that information to any front office wealth management application.
"The key to a successful enterprise-wide wealth management strategy is the ability to internally aggregate account data from across the financial institution and understand the relationship between them and the activity they produce," said Gordon Conlin, president of FIS Wealth Management. "A complete and accurate client view improves a firm's ability to adhere to privacy legislation, KYC, breakpoint and other compliance issues, reducing penalty costs and improving customer service," said Conlin.
FIS Information Server 5.0 stores historical data to provide a "point in time" view of all client information, including household or other relationships, holds complete position, balance and transaction information that can be viewed at any aggregated level and also maintains a complete security master.
The introduction of a hierarchal database allows for profitability analysis at the household or group level and improves the compliance review process. Mutual fund breakpoint rules are complex and differ by fund family. With increased responsibility for mutual fund commission breakpoint accuracy, financial institutions need the ability to store commission breakpoints at the fund level. FIS Information Server 5.0 provides the ability to report positions based on the fund family breakpoint rules.
FIS Information Server 5.0 is flexible and supports any financial institution seeking to optimize its wealth management infrastructure. FIS Information Server 5.0 is XML-based, supports real-time or batch feeds simultaneously and can scale to support over a million transactions per hour.