Fidelity National Information Services, Inc. (FIS) history, profile and corporate video
Fidelity National Information Services, Inc. (FIS) is an American financial products and services company headquartered in Jacksonville, Florida, United States.
HISTORY
Fidelity National Information Services (FIS) was founded in 1968 as Systematics, which was later acquired by ALLTEL Information Services, and then bought by title insurance giant Fidelity National Financial in 2003, who renamed it Fidelity Information Services (FIS).
Over the course of the next few years, FIS acquired several other financial technology firms, including Certegy in 2006, eFunds in 2007, and Metavante in 2009.
In 2015, FIS acquired SunGard, and entered into new markets for financial technology services, including asset managers, traders, custodians, treasurers, third-party administrators, and clearing agents.
In 2019, the company acquired Worldpay, a global leader in e-commerce and payments, expanding FIS’ capabilities by enhancing its acquiring and payment offerings.
Throughout its history FIS has also made other acquisitions:
- WebTone Technologies (2003)
- Sanchez Computer Associates (2004)
- Aurum Technology (2004)
- BankWare (2004)
- InterCept (2004)
- Kordoba GmbH & Co (2004)
- Compliance Coach, Inc. (2010)
- Capco (2010) – In May 2017 FIS sold a 60% stake in Capco to CD&R funds.
- Toronto Dominion Wealth Institutional (TDWI) – now re-branded as Platform Securities (2013)
- mFoundry, (2013)
- CMSI (2014)
- Reliance Trust Company (2014)
- Clear2Pay (2014)
Its largest acquisition to date would have been the reported merger with Global Payments, a deal estimated around US$70 billion, but which fell apart in December 2020. However, it is expected to be revisited in 2021.
OPERATIONS
The company offers its solutions in three primary segments: Merchant Solutions, Banking Solutions, and Capital Market Solutions.
Merchant
The Merchant segment provides merchant solutions for enterprises of all sizes, and for financial institutions. It enables them to accept electronic payments at a physical point of sale as well as in card-not-present environments such as eCommerce and mobile.
Banking
The Banking segment focuses on core processing and ancillary applications solutions; digital solutions; payments; fraud, risk management and compliance solutions; electronic funds transfer and network services; lending; wealth and retirement; item processing and output services solutions; and others.
Capital Market
The Capital Market segment involves investment banking and brokerage solutions, investment management and servicing solutions; insurance; and managed services.
FIS is well known for its development of Financial Technology, or FinTech, the technology that competes with traditional financial methods in the delivery of financial services.
With more than 55 000 employees across 50+ countries, FIS, Inc. is considered one of the largest processing and payments companies in the world, and a Fortune 500 company. According to Forbes, it is considered one of the top 2000 largest public companies in the world.
*Information from Forbes.com, Wikipedia.org, and www.fisglobal.com.
**Video published on YouTube by “FIS“.