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FIS (company)

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FIS
Company typePublic
NYSE: FIS
S&P 500 Component
IndustryFinancial Sector
Founded1968
Headquarters601 Riverside Avenue
Jacksonville, Florida, U.S.
Key people
Frank Martire
(Executive Chairman)
Gary A. Norcross
(President & CEO)
ProductsBanking Technology, Payment Technology, Processing Services, Information Based services
RevenueIncrease$6.6 billion USD (2015)[1]
Decrease$1.064 1,076.3 billion USD (2013)[1]
Decrease$825.0 million USD (2013)[1]
Number of employees
56,000[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 more than 55,000 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 is 392 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.[4] FIS was ranked the #1 Financial Technology company on the FinTech100 in 2013 and 2014.[5]

Operations

FIS has a large portfolio of products for the financial services sector, including both retail and investment banking.[6]

They include "Profile" - a banking application based on the open source GT.M—a transaction processing database engine maintained by FIS.[7]

Mergers and Acquisitions

Throughout its history FIS has made many significant acquisitions [8]

  • Alltel Information Services, 2003 $1.05 billion [8]
  • Sanchez Computer Associates, 2004 $175 million [9]
  • Aurum Technology, 2004 [10]
  • BankWare, 2004 [11]
  • InterCept, 2004 [12]
  • Kordoba GmbH & Co, 2004 $163.2 million [8]
  • Merger with Certegy Inc.,2006 $1.8 billion [8][13]
  • eFunds Corporation (EFD)
  • Metavante Corporation, 2009 $2.94 billion in stock [14]
  • Compliance Coach, Inc, 2010 [15]
  • Capco, 2010, $292 million [16]
  • TDWI - Toronto Dominion Wealth Institutional - now re-branded as Platform Securities, 2013 [17]
  • mFoundry, 2013, $120 million [18]
  • Reliance Trust Company, 2014 [19] $110 million
  • Clear2Pay, 2014 [20][21] $480 million
  • SunGard, 2015 [22] $9.1 billion

Controversies

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".[23]

In August 2011, Florida based eFunds Prepaid Solutions, part of FIS, was the victim of a sophisticated cyber attack that saw hackers steal $13 million from ATMs using 22 stolen prepaid cards belonging to a single client of FIS.[24]

See also

References

  1. ^ a b c "10-K" (pdf). FIS. 28 February 2014. p. 23. Retrieved 29 November 2014.
  2. ^ http://www.fisglobal.com/aboutfis
  3. ^ http://www.fisglobal.com/About-Us/About-Our-Company
  4. ^ Basch, Mark: [1] Florida Times-Union, October 2, 2009, "Fidelity National Information Services has new brand as it completes merger"
  5. ^ Basch, Mark: [2] American Banker, "FinTech100 Rankings by American Banker"
  6. ^ http://www.fisglobal.com/products
  7. ^ http://www.redhat.com/f/pdf/rhel/Profile_Benchmark_Results_11-17-2007.pdf
  8. ^ a b c d http://www.fisglobal.com/aboutfis-ourcompany
  9. ^ http://www.finextra.com/News/fullstory.aspx?newsitemid=11067
  10. ^ http://www.finextra.com/News/fullstory.aspx?newsitemid=11143
  11. ^ http://www.finextra.com/news/fullstory.aspx?newsitemid=11593
  12. ^ http://www.finextra.com/News/FullStory.aspx?newsitemid=12457
  13. ^ http://www.finextra.com/News/Announcement.aspx?pressreleaseid=7780
  14. ^ http://www.fisglobal.com/NEWSRELEASE-2009-10-01-123
  15. ^ http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a.Tlpiifa3OM
  16. ^ http://www.capco.com
  17. ^ http://www.platformsecurities.com/FISacquisition.aspx
  18. ^ http://www.engadget.com/2013/02/03/fis-acquires-mobile-banking-guru-mfoundry-for-120-million/
  19. ^ http://www.fisglobal.com/C028450
  20. ^ http://www.fisglobal.com/C029864
  21. ^ http://www.fisglobal.com/C031126
  22. ^ http://www.fisglobal.com/C040107
  23. ^ "Data breach generates class action lawsuit". Network World. 2007-08-21.
  24. ^ "Coordinated ATM Heist Nets Thieves $13M". Brian Krebs. 2011-08-26.
  • FIS — official site
  • Business data for FIS:
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