Key facts
- Leading provider of private banking, private business banking and wealth management services chooses FIS IBS banking platform as part of core banking modernization program.
- Known for providing highly personalized, relationship-based services to its clients, the bank was looking for a modern, open, tested platform to support its continued growth.
Financial technology leader FIS™ (NYSE: FIS) announced today that First Republic Bank, a leading provider of private banking, private business banking and wealth management services, has selected the FIS IBS platform as part of a core banking modernization program.
First Republic Bank has over $110 billion in banking assets, $140 billion of wealth management assets, and is a member of the S&P 500 Index. The bank has enjoyed strong, organic growth since its inception by providing highly personalized, relationship-based service to both its consumer and business clients.
First Republic was looking to upgrade its core banking system with a modern, open, scalable platform that will serve the needs of its growing consumer and business client segments. In choosing the FIS IBS core platform, First Republic Bank gains a proven core processing platform that is widely used within the dynamic U.S. financial services market.
The new FIS solution will provide expanded functionality and data analytics to serve the specific needs of First Republic clients. The bank will also benefit from the ability to integrate innovative third-party solutions through the growing FIS Code Connect ecosystem of open application programming interfaces. In addition, the new FIS solution will help First Republic Bank enhance efficiency by automating previously manual processes.
“We are extremely excited to welcome First Republic Bank to the growing roster of FIS core processing clients,” said Rob Lee, head of Digital and Banking at FIS. “We look forward to working with this forward-looking bank to bring the power, openness and innovation of our core platform to its customers.”
