Source: FIS
FIS, the world's largest provider of banking and payments technology, outsourcing and consulting solutions, today announced that it has completed its acquisition of Reliance Financial Corporation, including its subsidiaries Reliance Trust Company, Reliance Trust Company of Delaware and Reliance Integrated Solutions LLC.
Acquired by FIS subsidiary FIS Wealth Management Services, Inc., the transaction creates a full-service wealth management and retirement offering encompassing technology, selective operational functions, full back-office operations outsourcing, and retirement trust and fiduciary services.
"The market continues to demand a full-service trust operations BPO solution and this acquisition demonstrates FIS' commitment to meeting that need," said Anthony Jabbour, executive vice president, FIS North America. "The combination of the two companies enables FIS to more quickly expand FIS' capabilities in the retirement and trust markets, and create new efficiencies for our clients through additional BPO offerings - giving FIS the most flexible outsourcing solution set in the trust, wealth management and retirement industry."