Staying on Top of Changing Regulatory Environment Drives AFSA to Team with FIS

Key Facts:

  • A leader in risk management, FIS provides solutions to more than 5,000 U.S. institutions to enhance their overall compliance programs and mitigate risk.
  • American Financial Services Association (AFSA) is the newest organization to deploy FIS’ Regulatory University solution to enable its 350 member companies to provide training on new regulations.
  • FIS’ Enterprise Governance, Risk & Compliance (EGRC) solutions, including the innovative Regulatory University, are leading products and services to help financial services companies mitigate risk.

Business Wire

JACKSONVILLE, Fla.--(BUSINESS WIRE)--

With the financial industry’s most robust set of risk and compliance solutions, FIS™ (FIS), the world’s largest provider of banking and payments technology, continues to provide companies complete solutions to understand current and upcoming regulations as well as enhance compliance and mitigate risk across their organizations.

FIS provides Enterprise Governance, Risk & Compliance (EGRC) solutions to more than 5,000 financial institutions across the country, using best-practices-based modeling that ensures enterprise risk management and regulatory compliance proficiencies now and in the future. Its combination of more than 150 risk management experts across all areas of risk and proven tools – such as Regulatory University – have made it a highly trusted resource for financial institutions as well as regulatory agencies, who provide examiner training relying on FIS’ experts and solutions.

A top financial services trade association in Washington, D.C., American Financial Services Association (AFSA), has selected FIS’ Regulatory University as its member-company compliance training solution. The e-learning solution, which will be branded as AFSA University for the association’s members, will ensure ongoing compliance with laws and regulations, and help mitigate non-compliance risks for AFSA members.

“Staying on top of constantly changing laws and regulations is a costly challenge for financial services companies,” said Sai Huda, VP & GM, EGRC Solutions, FIS. “We are honored to have been selected by AFSA and excited to partner together to provide an innovative industry leading solution to AFSA members to enhance risk management.”

Additional benefits to AFSA members include the ability to tailor AFSA’s white labeled program, AFSA University, to fit the needs of any financial services company and to access it anywhere, anytime. By improving compliance performance, it also allows companies to save time and money.

“Given the new regulatory landscape, it is important for AFSA member companies to have a compliance training program on federal laws that apply to their lines of business,” said Chris Stinebert, AFSA President & CEO. “We undertook a detailed search and review before selecting a compliance training program for AFSA members, and chose FIS because of its subject matter expertise, industry reputation, and great eLearning training.”

FIS’ robust risk assessment software, best-in-class eLearning and instructor-led training, expert regulatory compliance/risk management consulting and outsourcing services are designed to keep its more than 5,000 U.S. financial institution clients ahead of the regulatory curve. Its comprehensive suite of software solutions, including Early Risk Manager, Compliance Risk Indicator, Prime AML, CallReporter and more – enable institutions of all sizes to mitigate risk across the enterprise.

Based in Washington, D.C., AFSA is the national trade association for the consumer credit industry, protecting access to credit and consumer choice. Its 350 members include consumer and commercial finance companies, auto finance/leasing companies, mortgage lenders, payment card issuers, industrial banks and industry suppliers.

About FIS

FIS (FIS) is the world’s largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 35,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. First in financial technology, FIS tops the annual FinTech 100 list, is 434 on the Fortune 500 and is a member of Standard & Poor’s 500® Index. For more information about FIS, visit www.fisglobal.com.

Contact:
Kim Snider, 904.438.6278
Vice President
FIS Global Marketing and Communications
kim.snider@fisglobal.com
or
Mary Waggoner, 904.438.6282
Senior Vice President
FIS Investor Relations
mary.waggoner@fisglobal.com

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