Leading European asset servicing firm selects FIS Open Payment Framework to comply with ISO 20022 and cross-border payment regulations
Financial technology leader FIS announced today that it has signed a long-term agreement with CACEIS, jointly owned by Credit Agricole S.A. and Santander, to provide the asset servicing firm with an enhanced payment hub to industrialize payment operations, reduce processing costs and provide a smooth payment experience.
With custodial assets of € 3.9 trillion, CACEIS is a leading provider of execution, clearing, securities lending, custody and fund services to asset managers and institutional and corporate clients worldwide. The firm was looking for a best-in-class platform to standardize its cross-border payments, while complying with ISO 20022 and other emerging payments standards.
CACEIS selected the FIS Open Payment Framework (OPF), an innovative real-time payments platform that supports ISO 20022 payments standards. In addition to ISO 20022, the platform will support SEPA Credit Transfer, Direct Debit and Instant Payments as well as SWIFT gpi and High-Value payments standards for CACEIS.
“It’s very important to CACEIS not only that we stay ahead of evolving regulatory requirements, but that we provide our clients with a modern, streamlined payment experience,” said Fabien Azavant, Chief Information Officer at CACEIS. “A single platform from FIS will enable us to do that in all our entities, while also streamlining costs and enhancing visibility of our international payments.”
“CACEIS joins a growing roster of organizations that are taking advantage of the advanced functionality of the FIS Open Payment Framework,” said Sandeep Gill, senior vice president, Banking Solutions and International Markets at FIS. “We look forward to working with this market leader to realize the benefits of deploying our payments platform.”
Source: Company Press Release