The Need for Differentiated Commercial Lending Offerings Drives Rand Merchant Bank to Select FIS' AC
The Need for Differentiated Commercial Lending Offerings Drives Rand Merchant Bank to Select FIS' ACBS Solution
Key Facts
RMB gains enterprise-scale origination, servicing and reporting functionality with FIS' ACBS solution.
ACBS is the industry's premiere commercial lending solution, supporting more than 50 of the world's top financial institutions and processing more than one million transactions on a daily basis.
JACKSONVILLE, Fla.--(BUSINESS WIRE)-- South Africa-based Rand Merchant Bank (RMB) has chosen to deploy the Advanced Commercial Banking System (ACBS) from FIS™, the world's largest provider of banking and payments technology, to support its growing African Corporate Lending Business.
Making the switch from an in-house solution to ACBS provides RMB with the flexibility to manage a broad spectrum of commercial lending products, including bilateral, syndicated or traded loans. ACBS will provide RMB a simple, functionally rich and efficient loan process.
ACBS is a comprehensive, enterprise-scale origination and servicing solution for commercial and corporate loan portfolios. Lenders across the globe are constantly required to stay competitive in an ever changing industry; with ACBS, FIS clients process more than one million transactions daily, keeping them not only competitive but leaders in the commercial lending space.
"This new relationship with RMB is very exciting as it underscores the trust and confidence commercial clients have in FIS," said Richard Levy, president ACBS, FIS. "ACBS is an industry-leading solution that creates greater efficiency across the entire origination, syndication and administration process. FIS remains committed to providing products and solutions that move our clients and their customers forward."
Headquartered in Johannesburg, Rand Merchant Bank is the investment banking arm of FirstRand Bank Limited and is one of the leading investment banks. RMB has a geographical footprint across 35 African countries, the UK, India, China and the Middle East.
FIS (NYS: 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 32,000 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.
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
KEYWORDS: United States North America Florida South Africa Africa
INDUSTRY KEYWORDS:
The article The Need for Differentiated Commercial Lending Offerings Drives Rand Merchant Bank to Select FIS' ACBS Solution originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.
