Fidelity National Information Services, Inc. (FIS) is enhancing its retirement technology with the launch of the latest version of the FIS Retirement Platform (FRP) on October 4, 2023. The upgraded platform utilizes a cloud-native, microservices architecture aimed at improving scalability for retirement plan providers and third-party administrators, responding efficiently to regulatory demands from SECURE 2.0.
Key features of the platform include automatic enrollment and support for pension-linked emergency savings accounts, designed to help recordkeepers manage new plan rules efficiently. FIS generated a 5.3% year-over-year revenue growth in Q2 2023 and anticipates pro forma revenues to increase by 4.5% to 5% for the full year. However, its stock has decreased by 45.5% over the past year, contrasting with a 17.1% decline in the industry.
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