Fidelity National Information Services (FIS) (NYSE: FIS), a worldwide leader in processing and technology solutions for financial institutions, announced today that Scottrade, a leading branch-supported online investment firm, has selected FIS Profile as its core processing solution and FIS WebClient for its online banking solution.
Looking to provide a seamless experience between brokerage and banking services to its customers, Scottrade sought a technology provider with direct bank expertise. Scottrade selected FIS and its Profile core processing solution largely because of FIS' competence in the direct bank markets and FIS' overall end-to-end capabilities in financial institution technology.
FIS Profile is a strategic, real-time core banking system with multicurrency, multilingual capabilities targeted to those institutions that require exceptional scalability, reliability and business continuity. With an extensive inventory of configurable components shared across all product lines to support loan and deposit products, Profile's integrated architecture contains all of an institution's customer data and deposit and loan accounts within a single logical system of record. This unique application design will facilitate Scottrade's efforts to provide operational efficiency and dramatically accelerate the time-to-market of new products and services.
FIS WebClient is a Web-enabled, integrated banking and brokerage application that provides customers with a single access point to all financial information - creating a personalized, banking portal for all transactions and products. This consolidated view exposes assets and liabilities both inside and outside the institution, providing an overview of the entire customer relationship.
"Scottrade's banking services will give our customers more options as they make their own investing and financial decisions at Scottrade," said Joe Pope, president of Scottrade Bank. "To ensure that our customers have a seamless experience, we aligned ourselves with a provider who understands the intricacies of our business model and can deliver the best-of-breed solutions we require. By leveraging FIS' expertise in providing world-class solutions to the financial industry, we will be able to provide a broader variety of financial products to our customers."
Scottrade's first banking products, which may include checking accounts, savings accounts, certificates of deposit, credit cards, debit cards and online bill pay services, will be available in 2010.
"We're happy Scottrade selected Profile and WebClient to help launch their direct bank business," said James A. Susoreny, executive vice president for FIS. "Scottrade joins a growing and impressive list of financial institutions around the world that have come to realize and chosen to benefit from Profile's broad array of processing advantages."