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FIS Launches Climate Risk Financial Modeler to Help Clients Assess, Reduce and Report Risks Tied to Climate Change

Business Wire
·3 min read

JACKSONVILLE, Fla., June 05, 2024--(BUSINESS WIRE)--FIS® (NYSE: FIS), a global leader in financial technology, today announced the launch of its Climate Risk Financial Modeler. The new SaaS risk offering aims to help businesses across all industries better assess, reduce and report their exposure to the physical risks of climate change.

By unlocking FIS’ powerful risk modeling and market leading insurance analytics, FIS Climate Risk Financial Modeler harmonizes client data with third-party climate data and is hosted on a new interface that is directly tailored to the risk management needs of corporates and financial institutions—ultimately seeking to drive more proactive foresight into potential climate-related risks.

"The launch of the FIS Climate Risk Financial Modeler is the latest chapter in our long history of market-leading risk management software and services throughout the money lifecycle," said JP James, Head of Treasury and Risk at FIS. "Corporate climate risk and the related regulatory pressures are becoming increasingly important for executives and risk managers of all levels and across all industries. With this launch, FIS is building on our best-in-class insurance risk application capabilities to respond to the challenges our clients face in understanding the potential impacts of climate change on their business."

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Why The Climate Risk Financial Modeler Matters

According to the World Economic Forum, climate change and its effects are estimated to cause between $1.7 trillion and $3.1 trillion in damages per year, including to infrastructure, property, agriculture and human health, by 2050. Corporations of all sizes and across all industries are expected to be affected, and regulators around the world have been increasing their climate-related reporting and stress testing requirements as a result.

By adopting FIS’ Climate Risk Financial Modeler, clients can gain a meaningful assessment of their operations, investments, and strategic positioning from a climate risk perspective, as well as efficiently support their climate-related regulatory compliance.

How The Climate Risk Financial Modeler Works

With FIS’ Climate Risk Financial Modeler, users are able to perform powerful modeling on various weather-related perils at both local and global levels, project potential financial losses from severe weather events, and determine the effects of climate change on their operations.

The solution makes use of powerful data from PwC US, combined with readily available information on a firm’s physical assets—such as its buildings and contents—along with global climate data, and performs relevant calculations.

"PwC's climate risk modeling services team takes pride in helping companies make informed, predictive decisions around escalating climate risks," said Richard de Haan, Global Risk Modeling Services Leader at PwC US. "By providing a dataset that underpins FIS’ Climate Risk Financial Modeler, our team is helping to empower businesses of all sizes and sectors to shore up their operations against extreme weather events, address climate reporting requirements, and drive efficiency and sustainability."

Learn more:

The FIS Climate Risk Financial Modeler is now available. Corporates and institutions wishing to implement the tool into its operations can visit https://www.fisglobal.com/en/products/climate-risk.

Please note: FIS’ Climate Risk Financial Modeler solution allows end clients to use a climate data model developed by PwC US. Due to PwC’s independence obligations as a public accounting firm, PwC US climate data will not be available to certain companies, therefore FIS’ Climate Risk Financial Modeler solution is currently only available to companies that are not subject to these independence restrictions.

About FIS

FIS is a financial technology company providing solutions to financial institutions, businesses and developers. We unlock financial technology to the world across the money lifecycle underpinning the world’s financial system. Our people are dedicated to advancing the way the world pays, banks and invests, by helping our clients to confidently run, grow and protect their businesses. Our expertise comes from decades of experience helping financial institutions and businesses of all sizes adapt to meet the needs of their customers by harnessing where reliability meets innovation in financial technology. Headquartered in Jacksonville, Florida, FIS is a member of the Fortune 500® and the Standard & Poor’s 500® Index. To learn more, visit FISglobal.com. Follow FIS on LinkedIn, Facebook and X.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240605767266/en/

Contacts

Kim Snider, 904.438.6278
Senior Vice President
FIS Global Marketing and Communications
kim.snider@fisglobal.com