FIS Selected to Streamline Reconciliations for Australia's Largest Bank
Key facts:
- Commonwealth Bank of Australia (CommBank) is adopting FIS Data Integrity Manager to consolidate and automate reconciliation across the bank.
- Delivered in a SaaS model, the solution will process over 150 million transactions daily on a single, unified platform, enhancing operational efficiency and scalability.
- FIS is delivering the solution via Microsoft Azure, providing cloud-native scalability and seamless third-party integrations.
FIS Data Integrity Manager delivers a modernized platform that supports the automation and management of all reconciliations across the enterprise. The platform uses real-time visibility and insights for more informed decision making, with automated alerts for discrepancies and a unified view across business lines—enabling teams to identify and resolve issues in minutes.
Delivered as Software as a Service (SaaS) via Microsoft Azure, upgrades to the solution will be managed by FIS, to support faster delivery of new capabilities. The platform's high-performance architecture enables the processing of exceptionally large data volumes in minutes rather than hours.
The engagement also leverages FIS' enterprise-grade risk, security, and compliance capabilities, including SOC1 and SOC2 certifications1, while supporting CommBank's federated software architecture.
This strategic partnership highlights FIS’ leadership in financial technology innovation, showcasing its ability to help clients manage money seamlessly as it moves through the global economy.
FIS is a financial technology company providing solutions to financial institutions, businesses, and developers. We unlock financial technology to the world across the money lifecycle underpinning the world’s financial system. Our people are dedicated to advancing the way the world pays, banks and invests, by helping our clients to confidently run, grow, and protect their businesses. Our expertise comes from decades of experience helping financial institutions and businesses of all sizes adapt to meet the needs of their customers by harnessing where reliability meets innovation in financial technology. Headquartered in
1 SOC1 (System and Organization Controls 1) and SOC2 (System and Organization Controls 2) are independent audit reports that verify a service provider's internal controls. SOC1 focuses on controls relevant to financial reporting, while SOC2 evaluates controls related to security, availability, processing integrity, confidentiality, and privacy.
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Global Head of PR
melanie.hesketh@fisglobal.com
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