FIS (company)

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Fidelity National Information Services
Type Public
Traded as NYSEFIS
S&P 500 Component
Industry Financial Sector
Founded February 1, 2006
Headquarters Jacksonville, Florida
Key people Frank Martire - Chairman of the Board & CEO
James "Woody" Woodall - CFO
Gary A. Norcross - President & COO
Kevin Kealy - CISO
Products Banking Technology Solutions, Payment Technology Solutions, Processing Services, Information Based services
Revenue Increase$6.1 billion USD (2012)
Operating income Increase$1.6 billion USD (2010)
Net income Increase$711.1 million USD (2010)
Employees 39,000
Website www.fisglobal.com

Fidelity National Information Services centers on banking and payments technologies. Headquartered in Jacksonville, Florida, FIS employs more than 39,000 people and provides payment processing and banking solutions, software, services and outsourcing of the technology. FIS is 425 on the Fortune 500 and is a member of Standard & Poor’s 500 Index.

Although the company retains the word "National" in its name, its stock is now traded under the ticker FIS, and this is also the preferred abbreviation.[1]

History[edit]

Fidelity National Information Services was formed on February 1, 2006 when Certegy Inc. merged with Fidelity Information Services, a subsidiary of Fidelity National Financial. FIS was formed after Alltel Information Services sold off its banking applications and data processing services to Fidelity to create FIS. Following the merger, Fidelity National Financial controlled 50.8% of the outstanding common stock of the new FIS.[2]

In 2004, prior to the merger which created FIS, FIS had acquired the rights to Profile, their main banking application, by acquiring Sanchez Computer Associates, Inc. of Malvern Pennsylvania.

In 2007 FIS acquired eFunds Corporation (EFD), adding switching and transaction management to the stable of financial products.

On April 1, 2009, Fidelity National Information Services announced that it had acquired Metavante Technologies (NYSE: MV) and planned to close the deal in the third quarter. Due to Federal regulatory approval, the $4.4 billion deal was delayed, but officially closed on October 1, 2009.

In June 2010, the company announced it will acquire Compliance Coach, a provider of risk assessment software, e-learning and additional tools. Terms of the deal were not disclosed.[3]

In October 2010, the company announced it will acquire Capco.

In January 2013, the company announced it had acquired mFoundry, a developer of mobile banking and retail applications.

Controversies[edit]

On July 3, 2007, Certegy Check Services, part of FNIS, announced that a worker at one of its subsidiaries stole 2.3 million consumer records containing credit card, bank account and other personal information. This estimate was later increased to 8.5 million consumer records. The next month, a law firm filed for a class-action lawsuit against CCS and parent company FNIS based on the privacy breach; the firm claims that, since CCS provides check-verification services to many major U.S. stores, "consumers do not choose to use the services of these companies but rather are forced to do so".[4]

Products[edit]

Acquisitions[edit]

  1. Sanchez Computer Associates, 2004 [8]
  2. Aurum Technology, 2004 [9]
  3. BankWare, 2004 [10]
  4. Pro-Soft, 2004 [11]
  5. InterCept, 2004 [12]

After the 2006 merger with Certegy Inc.,[13][14] FIS completed the following acquisitions:

  1. Second Foundation, Inc. (SECF)
  2. Marketing Solutions, Inc.
  3. Lenovo-Asia Info Technologies, Inc., Financial Service division
  4. Applied Financial Technology, Inc.
  5. eFunds Corporation (EFD)
  6. Metavante Corporation (April 2009)
  7. Compliance Coach, Inc. (June 2010)
  8. Capco (October 2010)
  9. TDWI - Toronto Dominion Wealth Institutional - now rebranded as Platform Securities, 2013 [15]
  10. ProNet Solutions, Oct 2012
  11. Clear2Pay (Septemeber 2014)[16]

See also[edit]

References[edit]

External links[edit]