FIS (company)

{{Infobox company

| name = Fidelity National Information Services, Inc.

| trade_name = FIS

| former_name =

| predecessor = Systematics, Inc

| logo = FIS logo.svg

| logo_caption = Advancing the way the world pays, banks and invests

| type = Public

| traded_as = {{ubl|{{NYSE|FIS}}|S&P 500 component}}

| founded = {{Start date and age|1968|p=yes}}

| hq_location_city = Jacksonville, Florida

| hq_location_country = U.S.

| area_served = Worldwide

| key_people = {{Unbulleted list |Stephanie Ferris (CEO & President) | Jeffrey A. Goldstein (Chairman) }}

| industry = Financial services

| num_employees = 50,000+

| num_employees_year = 2024

| products = Banking Technology, Payment Technology, Processing Services, Information Based services

| revenue = {{increase}} {{US$|10.1 billion|link=yes}} (2024)

| operating_income = {{increase}} {{US$|1.71 billion}} (2024)

| net_income = {{increase}} {{US$|1.45 billion}} (2024)

| assets = {{decrease}} {{US$|33.8 billion}} (2024)

| equity = {{decrease}} {{US$|15.7 billion}} (2024)

| website = {{URL|https://fisglobal.com}}

| footnotes = {{Cite web |date=February 13, 2025 |title=FIS, Inc. 2024 Annual Report (Form 10-K) |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1136893/000113689325000014/fis-20241231.htm |publisher=U.S. Securities and Exchange Commission}}

}}

Fidelity National Information Services, Inc. (FIS) is an American multinational corporation which offers a wide range of financial products and services. FIS is most known for its development of Financial Technology, or FinTech, and as of Q2 2024 it offers its solutions in two primary segments: Banking Solutions & Capital Market Solutions. Annually, FIS facilitates the movement of roughly $9 trillion through the processing of approximately 75 billion transactions in service to more than 20,000 clients around the globe.{{Cite web |title=About Our Company - FIS |url=http://www.fisglobal.com/About-Us/About-Our-Company}}

FIS was ranked second in the FinTech Forward 2016 rankings.{{Cite web |title=FinTech Forward 2016 |url=https://www.americanbanker.com/fintech-forward-2016 |website=American Banker |language=en |access-date=August 19, 2019 |archive-date=August 19, 2019 |archive-url=https://web.archive.org/web/20190819015550/https://www.americanbanker.com/fintech-forward-2016 |url-status=dead }} After acquiring Worldpay for $35 billion in Q3 of 2019, FIS became the largest processing and payments company in the world.{{Cite web|last=Fuscaldo|first=Donna|title=FIS Buys Worldpay For $35 Billion As Payment Consolidation Heats Up|url=https://www.forbes.com/sites/donnafuscaldo/2019/03/18/fis-buys-worldpay-for-35-billion-as-payment-consolidation-ensues/|access-date=May 20, 2020|website=Forbes|language=en}}

History

The company was founded in Little Rock in 1968 as Systematics, which was later acquired by ALLTEL Information Services as its Financial Services division.

Alltell then sold this division to title insurance giant Fidelity National Financial in 2003, who renamed it Fidelity Information Services (FIS).{{cite web|url=https://www.proquest.com/docview/234916262|title=Alltel Sells Financial Services Division for $1 Billion|id={{ProQuest|234916262}} }}

Operations

FIS has a portfolio of products for the financial services sector, including both retail and investment banking.{{Cite web |title=Enterprise Financial Systems - FIS |url=http://www.fisglobal.com/products}} They include "Profile"―a banking application based on the open source GT.M, a transaction processing database engine maintained by FIS.{{Cite web |date=2007 |title=Tuning and Optimizing the Red Hat Core Banking Pla |url=https://static.redhat.com/legacy/f/pdf/rhel/Profile_Benchmark_Results_11-17-2007.pdf |access-date=September 15, 2019 |website=www.redhat.com}}

Mergers, acquisitions and divestments

Throughout its history, FIS has made many acquisitions.{{Cite web |title=About Our Company - FIS |url=http://www.fisglobal.com/aboutfis-ourcompany}} Its largest to date would have been estimated around US$70 billion, but which fell through in December 2020.{{Cite news |date=December 20, 2020 |title=FIS, Global Payments Held Unsuccessful Talks to Merge |newspaper=Wall Street Journal |url=https://www.wsj.com/articles/fis-global-payments-held-unsuccessful-talks-to-merge-11608487357}}

Alltel Information Services, $1.05 billion (2003)
WebTone Technologies (2003){{Cite web|title=FIS acquires WebTone Technologies {{!}} Startup Ranking|url=https://www.startupranking.com/acquisition/fis-acquires-webtone-technologies-11078|access-date=December 29, 2020|website=StartupRanking|language=en-US}}{{Cite web|title=Fidelity National buys WebTone|url=https://www.bizjournals.com/atlanta/stories/2003/07/21/daily47.html|access-date=December 29, 2020|website=www.bizjournals.com}}
Sanchez Computer Associates, $175 million (2004){{Cite web |date=January 29, 2004 |title=Fidelity National Financial acquires Sanchez |url=https://www.finextra.com/newsarticle/11067/fidelity-national-financial-acquires-sanchez}}
Aurum Technology (2004){{Cite web |date=February 9, 2004 |title=Fidelity National Financial to acquire Aurum Technology |url=https://www.finextra.com/newsarticle/11143/fidelity-national-financial-to-acquire-aurum-technology}}
BankWare (2004){{Cite web |date=April 7, 2004 |title=Fidelity National Financial acquires Bankware and Pro-Soft |url=https://www.finextra.com/newsarticle/11593/fidelity-national-financial-acquires-bankware-and-pro-soft}}
InterCept (2004){{Cite web |date=September 9, 2004 |title=Fidelity to buy InterCept; postpones IPO |url=https://www.finextra.com/newsarticle/12457/fidelity-to-buy-intercept-postpones-ipo}}
Kordoba GmbH & Co, $163.2 million (2004)
Merger with Certegy Inc., $1.8 billion (2006){{Cite web |date=January 27, 2006 |title=Certegy shareholders agree to Fidelity merger |url=https://www.finextra.com/pressarticle/7780/certegy-shareholders-agree-to-fidelity-merger}}
eFunds Corporation (EFD){{citation needed|date=May 2023}}
Metavante Corporation, $2.94 billion in stock (2009){{Cite web |title=Media Room |url=http://www.fisglobal.com/NEWSRELEASE-2009-10-01-123}}
Compliance Coach, Inc, 2010{{Cite news |title=FIS to Acquire Compliance Coach, Inc. |language=en |url=https://www.businesswire.com/news/home/20100614005915/en/FIS-Acquire-Compliance-Coach |access-date=July 5, 2018}}
Capco, $292 million (2010){{Cite web |title=Capco - Financial Services Business and Technology Consultants |url=http://www.capco.com}} In May 2017 FIS sold a 60% stake in Capco to CD&R funds for $477 million.{{Cite web |date=May 22, 2017 |title=FIS To Sell 60% Equity Interest In Capco; To Receive $477 Mln In Cash Proceeds |url=http://www.nasdaq.com/article/fis-to-sell-60-equity-interest-in-capco-to-receive-477-mln-in-cash-proceeds-20170523-00520}}
Pronet Solutions, $24 million (2012)
TDWI (Toronto Dominion Wealth Institutional) – now re-branded as Platform Securities (2013){{Cite web |title=- FIS acquisition of Platform Securities completed |url=http://www.platformsecurities.com/FISacquisition.aspx}}
mFoundry, $120 million (2013){{Cite web |title=FIS acquires mobile banking guru mFoundry for $120 million |date=February 3, 2013 |url=https://www.engadget.com/2013/02/03/fis-acquires-mobile-banking-guru-mfoundry-for-120-million/}}
CMSI (2014){{Cite web|date=April 14, 2014|title=FIS acquires loan origination software vendor CMSI|url=https://www.finextra.com/pressarticle/54867/fis-acquires-loan-origination-software-vendor-cmsi|access-date=December 29, 2020|website=Finextra Research|language=en}}{{Cite web|date=April 14, 2014|title=FIS Acquires Loan Origination Company CMSI|url=https://www.americanbanker.com/news/fis-acquires-loan-origination-company-cmsi|access-date=December 29, 2020|website=American Banker|language=en}}
Reliance Trust Company (2014){{Cite web |title=FIS Completes Acquisition of Reliance Financial Corporation |url=http://www.fisglobal.com/C028450}}{{Dead link|date=December 2019 |bot=InternetArchiveBot |fix-attempted=yes }} $110 million
Clear2Pay (2014){{Cite web |title=Acquisition of Clear2Pay Bolsters FIS' Enterprise Payments Portfolio |url=http://www.fisglobal.com/C029864 |url-status=dead |archive-url=https://archive.today/20140903122510/http://www.fisglobal.com/C029864 |archive-date=September 3, 2014 |access-date=September 3, 2014}}{{Cite web |title=FIS Completes Acquisition of Clear2Pay |url=http://www.fisglobal.com/C031126 |url-status=dead |archive-url=https://archive.today/20141008090219/http://www.fisglobal.com/C031126 |archive-date=October 8, 2014 |access-date=October 8, 2014}} $480 million
SunGard (2015){{Cite web |title=FIS to Purchase Financial Software Maker SunGard for $9.1 Billion |date=August 13, 2015 |url=https://www.thestreet.com/markets/fis-to-purchase-financial-software-maker-sungard-for-91-billion-13253626}} $9.1 billion
Worldpay, Inc. (2019){{Cite web |date=March 18, 2019 |title=FIS and Worldpay to Combine to Accelerate the Future of Finance and Commerce Globally |url=https://www.businesswire.com/news/home/20190318005222/en/FIS-Worldpay-Combine-Accelerate-Future-Finance-Commerce |website=www.businesswire.com}} $43 billion
Virtus Partners (2020){{Cite web |date=January 3, 2020 |title=FIS takes majority stake in alternatives fund administration provider Virtus |url=https://www.globalcustodian.com/fis-takes-majority-stake-alternatives-fund-administration-provider-virtus/}}
Payrix (2022){{cite web|url=https://www.investor.fisglobal.com/news-releases/news-release-details/fis-acquisition-payrix-expands-its-e-commerce-embedded-payments|title=FIS Acquisition of Payrix Expands Its E-Commerce, Embedded Payments and Finance Experiences for SMB Merchants via Platforms}}
Bond Financial Technologies (2023){{cite web|url=https://www.pymnts.com/acquisitions/2023/report-fis-acquires-bond-financial-technologies-to-grow-embedded-finance|title=Report: FIS Acquires Bond Financial Technologies to Grow Embedded Finance|date=June 9, 2023 }}
Torstone Technology (2024){{cite web|url=https://thepaypers.com/payments-general/fis-acquires-torstone-technology|title=FIS acquires Torstone Technology}}
Dragonfly Financial Technologies (2024){{cite web|url=https://finance.yahoo.com/news/one-equity-partners-completes-sale-120000928.html|title=One Equity Partners Completes Sale of Dragonfly Financial Technologies to FIS}}
Demica (2024){{cite web|url=https://www.fintechfutures.com/2024/12/fis-reportedly-set-to-acquire-uk-based-fintech-demica-for-around-300m/|title=Fintech Demica swallowed by American giant FIS in $300m deal}}

=Divestments=

In February 2023, in the wake of pressure from activist investors, the company announced it would spin off its merchant business that consisted of Worldpay in the next 12 months.{{Cite news |last1=Nishant |first1=Niket |last2=Sen |first2=Anirban |last3=Vinn |first3=Milana |date=February 13, 2023 |title=FIS takes $17.6 billion hit in merchant unit to be spun off |language=en |work=Reuters |url=https://www.reuters.com/markets/deals/fidelity-national-spin-off-merchant-payments-segment-2023-02-13/ |access-date=February 13, 2023}} In July 2023, FIS agreed to sell a 55{{nbsp}}percent stake in Worldpay to private equity firm GTCR for $11.7{{nbsp}}billion, valuing WorldPay at $18.5{{nbsp}}billion.{{cite web |last1=Nishant |first1=Niket |last2=Sen |first2=Anirban |date=July 6, 2023 |title=Buyout firm GTCR picks up majority stake valuing FIS unit Worldpay at $18.5 billion |url=https://www.reuters.com/markets/deals/fis-sell-stake-merchant-business-gtcr-185-bln-deal-2023-07-06/ |website=Reuters}} On February 1, 2024, the company announced it had competed the sale of a majority stake in its Worldpay Merchant Solutions business to GTCR in a transaction that valued the deal at US$18.5 billion, including US$1 billion contingent on returns realized by GTCR. FIS will maintain commercial agreements with Worldpay and will create a joint strategic go-to-market partnership between the two entities.{{Cite news |author=|date=February 1, 2024 |title=FIS Completes Sale of Majority Stake of Worldpay to GTCR |language=en |work=Business Wire |url=https://www.businesswire.com/news/home/20240201785803/en/FIS-Completes-Sale-of-Majority-Stake-of-Worldpay-to-GTCR/ |access-date=February 12, 2024}}

Finances

A 50% year-over-year increase in quarterly revenue was reported in FIS' Q1 2020 earnings report, climbing from $2.07{{nbsp}}billion to $3.01{{nbsp}}billion, while adjusted net earnings more than doubled (+112%) from $378{{nbsp}}million to $802{{nbsp}}million. According to FIS Q1 2020 earnings report, a majority of these substantial increases can be attributed to the historically massive $35 billion merger/acquisition deal with Worldpay, Inc. which closed in Q3 2019.{{Cite web |title=FIS Reports First Quarter 2020 Results |url=https://www.investor.fisglobal.com/news-releases/news-release-details/fis-reports-first-quarter-2020-results |access-date=May 20, 2020 |website=FIS |language=en}}

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.{{Cite web |title=Fidelity National Information Services Revenue 2006-2018 {{!}} FIS |url=https://www.macrotrends.net/stocks/charts/FIS/fidelity-national-information-services/revenue |access-date=November 6, 2018 |website=www.macrotrends.net}}

class="wikitable float-left" style="text-align: right;
Year !Revenue in mil. US$ !Net income in mil. US$ !Total Assets in mil. US$ !Price per Share in US$ !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
2018 \|8,423 \|846 \|23,770 \|102.55 \|47,000
2019 \|10,333 \|298 \|83,806 \|139.09 \|55,000
2020 \|12,552 \|158 \|83,842 \|141.46 \|62,000
2021 \|13,877 \|417 \|82,931 \|109.15 \|65,000

class="wikitable float-left" style="text-align: right;

Year

!Revenue
in mil. US$

!Net income
in mil. US$

!Total Assets
in mil. US$

!Price per Share
in US$

!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

2018

|8,423

|846

|23,770

|102.55

|47,000

2019

|10,333

|298

|83,806

|139.09

|55,000

2020

|12,552

|158

|83,842

|141.46

|62,000

2021

|13,877

|417

|82,931

|109.15

|65,000

Controversies

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.{{Cite web |title=CertegyAVC.pdf |url=https://myfloridalegal.com/webfiles.nsf/WF/MRAY-84KKQN/$file/CertegyAVC.pdf |archive-url=https://web.archive.org/web/20190808212214/https://myfloridalegal.com/webfiles.nsf/WF/MRAY-84KKQN/$file/CertegyAVC.pdf |archive-date=August 8, 2019}} 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".{{Cite web |date=August 21, 2007 |title=Data breach generates class action lawsuit |url=http://www.networkworld.com/community/node/18598 |website=Network World}}

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.{{Cite web |date=August 26, 2011 |title=Coordinated ATM Heist Nets Thieves $13M |url=http://krebsonsecurity.com/2011/08/coordinated-atm-heist-nets-thieves-13m/ |website=Brian Krebs}}

On January 16-17, 2025, FIS reported a power outage causing technical issues at a large number of banks, including Capital One. Depositors report not being able to access online or mobile banking or not having accurate current data.{{Cite web |last=Valinsky |first=Jordan |date=2025-01-17 |title=Capital One says a 'technical issue' is affecting customers' ability to get money {{!}} CNN Business |url=https://www.cnn.com/2025/01/17/business/capital-one-outage-direct-deposits/index.html |access-date=2025-01-17 |website=CNN |language=en}}