Case Study: Discovery achieves 3-month launch of a tax-efficient global endowment with FIS Policy Administration Suite

Helping Discovery’s Investors Go Global

Discovery, a South African financial services group with a global presence, needed to launch Discovery Invest International — a tax-efficient, multicurrency offshore endowment — while meeting complex operational and regulatory constraints (offshore pricing/tax, multicurrency portfolios and withdrawal limits) on a tight timeline. To do this it turned to long-term partner FIS and its FIS Policy Administration Suite (formerly Compass) to extend its local investment solution for global use.

FIS implemented and enhanced Policy Administration Suite to handle multicurrency pricing and capital-gains tax in US dollars, added multi-contract support (up to 100 contracts per endowment plan) to allow multiple withdrawals, and configured flexible product rules — delivering implementation and testing in three months, ahead of schedule. The FIS solution enabled a successful launch of a tax-efficient global product, improved operational efficiency, increased market share and created more opportunities to attract and retain customers.

Discovery

Lance Geyser

Chief Operating Officer