FIS (company)

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FIS
Public
Traded as NYSEFIS
S&P 500 Component
Industry Financial Sector
Founded 1968
Headquarters 601 Riverside Avenue
Jacksonville, Florida, U.S.
Key people
Frank Martire
(Executive Chairman)
Gary A. Norcross
(President & CEO)
Products Banking Technology, Payment Technology, Processing Services, Information Based services
Revenue Increase$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
56,000[2]
Website www.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[edit]

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[edit]

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

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".[23]

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.[24]

See also[edit]

References[edit]

External links[edit]