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.
History
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.
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.
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
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".
Products
- Active Analytics Suite
- Biller Direct - an online bill presentment and payment solution
- Card
- Commercial Treasury
- Core Banking
- Document Output
- CSF Designer
- CSF Designer Intuition
- eBanking
- ePayment
- Financial Crime Management
- Governance, Risk and Compliance
- Government
- Hardware Solutions
- Image
- Lending
- Loyalty
- Mobile
- NYCE Payments Networks - NYCE is an interbank network connecting ATMs of various financial institutions.
- Payment Network Solutions
- Retail Payments
- Sales and Service
- Technology Platforms
- Profile - a banking application based on the open source GT.M--a transaction processing database engine maintained by FIS.
- Wealth Management Solutions
Acquisitions
- Sanchez Computer Associates, 2004
- Aurum Technology, 2004
- BankWare, 2004
- Pro-Soft, 2004
- InterCept, 2004
After the 2006 merger with Certegy Inc., FIS completed the following acquisitions:
- Marketing Solutions, Inc.
- Lenovo-Asia Info Technologies, Inc., Financial Service division
- Applied Financial Technology, Inc.
- eFunds Corporation (EFD)
- Metavante Corporation (April 2009)
- Compliance Coach, Inc. (June 2010)
- Capco.,(October 2010)
- TDWI - Toronto Dominion Wealth Institutional - now rebranded as Platform Securities, 2013
- ProNet Solutions, Oct 2012
- mFoundry (January 2013)
- Reliance Trust Company (July 2014)
- Clear2Pay (September 2014)
See also
- Fidelity National Financial
References
ArrayExternal links
- FIS -- official site
Interesting Informations
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