HSBC, one of the world’s largest banking and financial services groups, was recognized for its work with FIS in their annual client impact awards to create a strategic IT roadmap for Corporate Actions and Income to enhance the bank’s fund accounting services operations. By automating middle-office functions, the initiative has increased operational efficiency, reduced cost and risk, streamlined workflow, and accelerated development of new products and services. The initiative has also helped HSBC prepare and leverage reporting requirements under the European Union’s MiFID II directive, which went into effect in January.
The annual FIS Impact Awards, independently judged by leading industry analyst research group Celent, recognize organizations that are using FIS technology or services in innovative ways to better serve their customers and drive tangible business results. Entries were judged on the criteria of applied innovation, tangible return on investment and enhanced customer service. For each of the winning entries, the FIS Foundation is making a $10,000 donation in the client’s name to charitable organizations designated by the clients.