FIS (company)

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
FIS
Public
Traded asNYSEFIS
S&P 500 Component
IndustryFinancial Sector
Founded1968; 50 years ago (1968)
HeadquartersJacksonville, Florida, U.S.
Key people
Gary A. Norcross
(Chairman, President & CEO)
ProductsBanking Technology, Payment Technology, Processing Services, Information Based services
RevenueIncrease$9.2 billion USD (2016)[1]
Decrease$1.064 1,076.3 billion USD (2013)[1]
Decrease$825.0 million USD (2013)[1]
Number of employees
52,000[2]
Websitewww.fisglobal.com

Fidelity National Information Services Inc., better known by the abbreviation FIS, is an international provider of financial services technology and outsourcing services. Headquartered in Jacksonville, Florida, FIS employs 52,000 people worldwide. FIS provides payment processing and banking software, services and outsourcing of the associated technology. FIS has over 20,000 clients in more than 130 countries.[3] FIS was ranked the #1 Financial Technology company on the FinTech100 in 2013 and 2014.[4]

Operations[edit]

FIS has a portfolio of products for the financial services sector, including both retail and investment banking.[5]

They include "Profile" - a banking application based on the open source GT.M—a transaction processing database engine maintained by FIS.[6]

Derivatives Utility[edit]

FIS with the acquisition of SunGard[7], has launched a Derivatives Utility in 2015 to transform Derivatives Clearing BSPT processing world-wide. This will guide derivatives clearing for futures commission merchants to save on total cost of ownership (TCO), and the ability to allow a large focus of the operations processing to FIS, freeing each merchant to focus on each of their clients. Allowing futures merchants to reduce operational risk.[8] Beginning with Barclays[9][better source needed] in 2015, Credit Suisse[10] in 2016, and Wedbush Securities one of the largest capitalized non-bank futures commission merchants in the United States, will move its operations processing and technology management to the FIS Derivatives Utility in 2018[11].

Mergers and acquisitions[edit]

Throughout its history FIS has made many acquisitions[12]

Finances[edit]

For the fiscal year 2017, FIS reported earnings of US$1.319 billion, with an annual revenue of US$9.123 billion, a decrease of 1.3% over the previous fiscal cycle. FIS shares traded at over $106 per share, and its market capitalization was valued at over US$33 billion in November 2018.[28]

Year Revenue
in mil. USD$
Net income
in mil. USD$
Total Assets
in mil. USD$
Price per Share
in USD$
Employees
2005 2,688 197 4,189 15.77
2006 2,417 259 7,631 18.08
2007 2,893 561 9,795 22.46
2008 3,360 215 7,500 17.28
2009 3,711 106 13,998 18.23
2010 5,146 405 14,176 23.27
2011 5,626 470 13,873 25.85
2012 5,796 461 13,550 29.22
2013 6,063 493 13,960 40.54 38,000
2014 6,413 679 14,521 52.41 40,000
2015 6,596 632 26,200 62.80 55,000
2016 9,241 568 26,031 69.40 55,000
2017 9,123 1,319 24,517 86.11 53,000

Controversies[edit]

On July 3, 2007, Certegy Check Services, part of FIS, 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 a class-action lawsuit against CCS and parent company FIS 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".[29]

In August 2011, Florida based eFunds Prepaid Solutions, part of FIS, was the victim of a sophisticated cyberattack that saw hackers steal $13 million from ATMs using 22 stolen prepaid cards belonging to a single client of FIS.[30]

See also[edit]

References[edit]

  1. ^ a b c "10-K" (pdf). FIS. 28 February 2014. p. 23. Retrieved 29 November 2014.
  2. ^ "About US - FIS".
  3. ^ "About Our Company - FIS".
  4. ^ Basch, Mark: [1] American Banker, "FinTech100 Rankings by American Banker"
  5. ^ "Enterprise Financial Systems - FIS".
  6. ^ http://www.redhat.com/f/pdf/rhel/Profile_Benchmark_Results_11-17-2007.pdf
  7. ^ https://www.fisglobal.com/about-us/media-room/news-releases/2015/sungard-launches-industry-utility-to-transform-derivatives-clearing-processing-globally
  8. ^ https://www.fisglobal.com/about-us/media-room/news-releases/2015/sungard-launches-industry-utility-to-transform-derivatives-clearing-processing-globally
  9. ^ Barclays
  10. ^ https://www.fisglobal.com/about-us/media-room/news-releases/2016/credit-suisse-leader-in-global-cleared-derivatives-selects-fis-derivatives-utility
  11. ^ http://www.investor.fisglobal.com/phoenix.zhtml?c=180304&p=irol-newsArticle&ID=2325679
  12. ^ a b c d "About Our Company - FIS".
  13. ^ "Fidelity National Financial acquires Sanchez". 29 January 2004.
  14. ^ "Fidelity National Financial to acquire Aurum Technology". 9 February 2004.
  15. ^ "Fidelity National Financial acquires Bankware and Pro-Soft". 7 April 2004.
  16. ^ "Fidelity to buy InterCept; postpones IPO". 9 September 2004.
  17. ^ "Certegy shareholders agree to Fidelity merger". 27 January 2006.
  18. ^ "Media Room".
  19. ^ "FIS to Acquire Compliance Coach, Inc". Retrieved 2018-07-05.
  20. ^ "Capco - Financial Services Business and Technology Consultants".
  21. ^ "FIS To Sell 60% Equity Interest In Capco; To Receive $477 Mln In Cash Proceeds". 22 May 2017.
  22. ^ "- FIS acquisition of Platform Securities completed".
  23. ^ "FIS acquires mobile banking guru mFoundry for $120 million".
  24. ^ "FIS Completes Acquisition of Reliance Financial Corporation".
  25. ^ http://www.fisglobal.com/C029864
  26. ^ http://www.fisglobal.com/C031126
  27. ^ "FIS to Acquire SunGard".
  28. ^ "Fidelity National Information Services Revenue 2006-2018 | FIS". www.macrotrends.net. Retrieved 2018-11-06.
  29. ^ "Data breach generates class action lawsuit". Network World. 2007-08-21.
  30. ^ "Coordinated ATM Heist Nets Thieves $13M". Brian Krebs. 2011-08-26.

External links[edit]