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FIS has announced the launch of Treasury GPT, an AI-powered product support tool integrated into its FIS Treasury and Risk Manager – Integrity Edition.
Developed in collaboration with Microsoft, the tool leverages Microsoft Azure OpenAI Service to provide automated responses related to product usability, client configurations, and industry best practices.
“Competitive edge that can unlock the power and capabilities of FIS solutions”
JP James, head of Treasury and Risk at FIS, commented, “Corporate treasurers have a major role to play in their organizations, but emerging risks and expanded responsibilities can create disharmony and disruption to their strategies and workflows.
“In this fast-changing environment, having access to the best tools and innovations is what will keep corporate treasurers ahead of the curve. By launching Treasury GPT, we’re giving our customers a competitive edge that can unlock the power and capabilities of FIS solutions and steer their companies to growth.”
Fiserv Completed Acquisition of Payfare
Fiserv recently finalized its acquisition of Payfare to strengthen its position in embedded financial solutions in a deal that integrates Payfare’s program management capabilities with Fiserv’s expertise in processing, bank ledgers, and value-added services.
Payfare specializes in financial services for gig economy workers by providing real-time payments and digital banking solutions. Its integration into Fiserv is expected to create a more comprehensive suite of embedded banking, payments, and lending services.
As part of the acquisition, 1517452 B.C. LTD., a wholly owned subsidiary of Fiserv, acquired all 48,287,259 outstanding shares of Payfare for C$4.00 per share, totaling approximately C$193.1 million. The company will file an early warning report under Canadian securities laws, with details available on SEDAR+.
Following the completion of the deal, Payfare shares will be delisted from the Toronto Stock Exchange and will no longer be quoted on the OTCQX. Fiserv also plans to apply for Payfare to cease being a reporting issuer.
FIS Partnered With OSTRRA for Transparent ETD Post-Trade
In late 2024, FIS partnered with OSTTRA to bring new transparency to the exchange-traded derivatives (ETD) post-trade lifecycle.
Building on OSTTRA’s work with FIA’s DMIST (Derivatives Market Institute for Standards) initiative to improve standardization of ETD post-trade processing, the partnership will allow users to receive real time clearing status from 70+ global CCPs via FIS Connections.
The move will offer unparalleled transparency into the finality of give-ups and improved exception management capabilities.
Meanwhile, FIS will provide the broker network with enhanced operational efficiency via STP of allocation instructions enriched with OSTTRA order IDs directly into the FIS Cleared Derivatives solution, allowing for increased automation and accuracy in middle office give-up/give-in processing.
The two firms will provide rich data insights, enabling market participants to meet the FIA’s Derivatives Market Institute for Standards (DMIST) 30-30-30 standards for the timeliness of allocations and give-ups in the ETD market. This builds on OSTTRA’s pioneering work with DMIST to improve standardization of ETD post-trade processing.
