Point Nine, a Cyprus-based regulatory reporting firm, has partnered with Florida-based payments giant, FIS.
The partnership has brought to life a new product: FIS Trade and Transaction Reporting Manager. The solution offers an end-to-end, cloud-based solution for improved trade and transaction reporting efficiency and effectiveness.
The reporting manager collects raw data across all asset classes from multiple sources, performs data mapping, includes rich market data, and automatically translates, validates, and submits reports that meet specific regulatory requirements.
There is an expert exception management service which consists of two major components: email notifications, and the expertise to drill down and quickly resolve any potential issues.
Andreas Roussos, CEO of Point Nine, said: “We are thrilled to be selected by FIS to power Trade and Transaction Reporting together. We are proud to engage in this partnership with an S&P 500 firm and we are looking forward to strengthening and developing this partnership further towards achieving common goals”.
“The data which are necessary for firms to ensure timely and accurate reporting are segregated amongst multiple systems, data formats and 3rd parties. By leveraging FIS’ vast amounts of trade data and Point Nine’s capabilities we are thrilled to present FIS Trade Reporting Manager with Point Nine: aiming to ensure timelines and accuracy in reporting whilst reducing costs and associated risks.”
Since October 2015, Point Nine processed and reported more than 7 billion transactions across all asset classes with a proven track record of 99.95% submissions success in EU/UK transaction reporting.
FIS has earned the number one spot in the Chartis RiskTech100 for the seventh straight year. In addition to being ranked as the top provider, FIS won in the categories of Functionality, Market Presence, Insurance, Trading & Capital Markets, and Front Office Risk Management.
Martin Boyd, President, Fintech Solutions at FIS, said: “Managing risk is a critical concern for businesses of all types and sizes and can be challenging for organizations to navigate. Maintaining the top spot on this prestigious ranking for seven straight years is a tremendous achievement and recognition of the many talented colleagues we have at FIS who keep us at the forefront of risk best practice. In addition, it underscores the fact that our clients are continuing to benefit from the significant investments FIS is making to help them more easily manage risk across all areas of their business.”
“FIS continues to stand out among risk and compliance providers in the Chartis RiskTech100®, said Sid Dash, Research Director at Chartis Research. “After winning the award seven years in a row, FIS has demonstrated the strength and consistency that its technology solutions are capable of.”