FIS™ (NYSE:FIS), the world’s largest provider of banking and payments technology, announced that Aite Group has honored it with three market-leader awards, raising to 10 the number of such recognitions FIS has received in 2012 for its core bank-processing solutions.
In its new report, The Leading U.S. Core Vendors: Fueling Financial Institution Initiatives, the independent research and advisory firm recognized FIS with awards in the categories of vendor experience, technology and ease of integration. Aite Group focuses on business, technology and regulatory issues that affect the financial services industry.
Its report analyzed the U.S. core system replacement market, key trends shaping its future and business drivers that will drive increased momentum. It also compared U.S. bank and credit union core system offerings and changes in the competitive landscape. FIS’ awards honored it for:
- Profile, FIS’ strategic real-time core banking solution, as recipient of the Leader of the Pack Award. It recognizes the vendor overall experience in a specific market, including total client base in the designated market segment, number of signed clients for the proposed solution and 2011 successes.
- Profile as the recipient of the Technology Award, recognizing its high level of technological sophistication, including solution architecture and interoperability, reliability, security and scalability. Profile serves more than 200 clients globally.
- Its IBS solution, which won the Alliance Award. It recognizes ease of integration with other third-party solutions, including quality and depth of integration with third-party solutions, ease of implementation and incremental cost to add an ancillary service or solution.
“We are honored to be acknowledged for our core processing solutions,” said Anthony Jabbour, executive vice president, FIS Financial Solutions Group. “Our continued objective seeks to provide leading technology solutions that enable our clients to achieve their strategic operational goals, mitigate risk and drive growth in their target markets. This outside recognition validates the strength and quality of our solutions and the benefits they bring to our clients.”According to a recent study by Aite Group, U.S. financial institutions are expected to invest more than $4 billion in core system replacements over the next three years. “With an increase forecasted in U.S. core replacement systems over the next few years, core solution providers must deliver platforms that meet their clients’ growing regulatory and compliance needs and tools that set them apart from their competitors,” said Christine Barry, research director, Aite Group. “FIS continues to be a leading player in the core solutions market with comprehensive offerings that address the growing challenges of financial institutions of all sizes.”