The latest technology news in the wealth management sector from around the world.

Fintech business FIS® has launched an asset servicing offering, called FIS Asset Servicing Management Suite.

It blends the traditionally separate functions of corporate actions processing, proxy voting, class actions claims, operational claims and tax reclaim management.

The unified platform can replace the need for multiple vendors and minimizes data fragmentation, providing accurate and streamlined data to provide better insights.

FIS said it has launched the offering at a time when the asset servicing sector is under pressure because firms rely on several vendors, which causes fragmented data, inefficiencies, and a greater chance for mistakes. The fragmentation also makes it harder to control costs and adds to operational risks. 

"Operational inefficiencies in asset servicing directly translate to real financial losses for everyday investors,� Matt Stauffer, head of back-office solutions at FIS, said.

FIS is headquartered in Jacksonville, Florida.