FIS Launches Climate Risk Financial Modeler to Help Clients Assess, Reduce and Report Risks Tied to Climate Change
FIS has launched its Climate Risk Financial Modeler, a SaaS tool to help businesses assess, reduce, and report climate change risks. Leveraging FIS' risk modeling and insurance analytics, the tool integrates client data with third-party climate data to project potential losses from severe weather events and effects on operations. This solution aims to assist companies in meeting regulatory compliance requirements related to climate risks. The tool uses data from PwC US but is not available to companies restricted by PwC’s independence obligations.
- Launch of a new SaaS tool addressing climate risk.
- Integration of powerful FIS risk modeling and insurance analytics.
- Aids businesses in meeting regulatory compliance on climate-related risks.
- Supports proactive management of potential climate-related financial losses.
- Partnership with PwC US for enhanced climate risk data.
- The tool is not available to companies restricted by PwC’s independence obligations.
- Potentially market reach due to the specific client eligibility criteria.
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.”
Why The Climate Risk Financial Modeler Matters
According to the World Economic Forum, climate change and its effects are estimated to cause between
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.
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
View source version on businesswire.com: https://www.businesswire.com/news/home/20240605767266/en/
Kim Snider, 904.438.6278
Senior Vice President
FIS Global Marketing and Communications
kim.snider@fisglobal.com
Source: Fidelity National Information Services
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