Caceis signs up with FIS to deploy new payment hub
Asset servicing group Caceis has signed a “long-term” deal with FIS for the creation of a new payment hub.
FIS will provide support for ISO 20022 payments standards, SEPA credit transfer, direct debits and Swift gpi standards. Caceis will make use of the company’s Open Payment Framework.
According to the vendor, its new client was looking for a platform to standardise its cross-border payments operations.
Fabien Azavant, CIO at Caceis, says it’s important that his firm stays ahead of “evolving regulatory requirements”.
“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 is jointly owned by Crédit Agricole and Santander, the result of 2019 merger between the two banks’ securities services divisions.
The firm operates with more than €3.9 trillion in custodial assets. It aims to for growth in “high potential markets”.
Crédit Agricole and Santander hold 69.5% and 30.5% of the company, respectively.
Earlier this year Caceis launched a new service for its asset managers in partnership with Amundi. Using the Amundi Alto platform it created a “unique outsourcing solution” across multiple asset classes.
Sandeep Gill, senior vice president for banking solutions and international markets at FIS, says Caceis joins a “growing roster” of companies using the FIS Open Payment Framework.