European asset servicing firm CACEIS has forged a long-term partnership with US-based financial technology provider FIS to streamline international payments.
CACEIS – which is jointly owned by Santander and Credit Agricole – is said to gain access to an improved payments hub and cut processing costs through the alliance.
The company selected FIS’ real-time payments platform Open Payment Framework (OPF).
OPF will support SEPA credit transfer, direct debit and instant payments, SWIFT gpi, as well as ISO 20022 payment standards, for CACEIS.
FIS SVP of banking solutions and international markets Sandeep Gill said: “CACEIS joins a growing roster of organisations that are taking advantage of the advanced functionality of the FIS Open Payment Framework.
“We look forward to working with this market leader to realise the benefits of deploying our payments platform.”
CACEIS aims to standardise cross-border payments, while complying with evolving payment standards.
CACEIS provides execution, clearing, securities lending, and custody and fund services.
It serves asset managers and institutional and corporate clients worldwide.
The company has €3.9trn ($4.6trn) in custodial assets.
CACEIS CIO Fabien Azavant said: “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.
“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.”