Societe Generale embarks on derivatives tech transformation with FIS

Societe Generale in tech transformation with FIS

French banking heavyweight Societe Generale has signed an extended agreement with FIS as part of the bank’s “strategic transformation of derivatives clearing and settlement technology”, the vendor says.

Societe Generale will transition its existing derivatives clearing and settlement IT environment to FIS Cleared Derivatives Suite.

“Our decision to select FIS to provide our next generation post-trade clearing technology represents a significant investment, with a trusted partner, to support the long-term growth of this business,” says Christophe Lattuada, chief operating officer of global banking and investor solutions (GBIS) at Societe Generale.

The two companies have a long-standing relationship.