FIS has revealed that the UK’s self-invested personal pension (SIPP) servicing has improved its wealth management products. FIS is significantly increasing its capabilities to wealth managers in this area by introducing retirement services in the UK.
“The UK is a world leader in wealth management with £1.3 trillion in assets under management, and with the advanced offerings from FIS, we’re poised to help these firms operate more efficiently,”
“The FIS wealth platform offers a broad set of capabilities for wealth managers across the globe, and by adding such critical services like SIPP for our UK market, we are committed to becoming the provider of choice for wealth and retirement managers everywhere.”
John Beeston, Head of Platform Securities at FIS.
By collaborating with UK investment and pension services company Quai Digital, the new SIPP option is made feasible. As a result of the cooperation, Quai will gain from employing Platform Securities Limited’s wealth management and service solutions from FIS to improve the operation of its savings and investment company.
FIS Wealth as a Service is a comprehensive solution that can be adjusted and customized to meet the specific requirements of an investment business. It handles order management, execution, clearing, custody administration, and settlement. Additionally, businesses that get their wealth platform from FIS will experience lower operational costs thanks to a managed technology solution.
“The industry of pension and retirement investing is moving faster than ever with new technology and new demands from our clients, a partnership with FIS works very well for both parties and allows Quai to enhance its already market-leading infrastructure and services, which is why we sought a solution that we knew would carry us into the future,”
“FIS will allow us to redouble our focus on our clients while we can trust the technology can meet our needs as we continue to grow our business and support the FIS expansion into Pensions.”
Tony Webb, CEO at Quai Digital.
FIS announced the introduction of its Guaranteed Payments solution, making it the first payment processor to provide a fully integrated solution intended to guarantee merchants higher acceptance rates for e-commerce transactions and do away with chargebacks resulting from fraudulent purchases.