FIS (company)

FIS has a 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]

FIS with the acquisition of SunGard,[8] has launched a Derivatives Utility in 2015 to transform Derivatives Clearing BSPT processing world-wide. This will guide derivatives clearing for futures commission merchants to save on total cost of ownership (TCO), and the ability to allow a large focus of the operations processing to FIS, freeing each merchant to focus on each of their clients. Allowing futures merchants to reduce operational risk.[8] Beginning with Barclays[9] in 2015, Credit Suisse[10] in 2016, and Wedbush Securities one of the largest capitalized non-bank futures commission merchants in the United States, will move its operations processing and technology management to the FIS Derivatives Utility in 2018.[11]

Throughout its history FIS has made many acquisitions[12]

• Alltel Information Services, 2003 $1.05 billion[12]
• WebTone Technologies, 2003
• Sanchez Computer Associates, 2004 $175 million[13]
• Aurum Technology, 2004[14]
• BankWare, 2004[15]
• InterCept, 2004[16]
• Kordoba GmbH & Co, 2004 $163.2 million[12]
• Merger with Certegy Inc.,2006 $1.8 billion[12][17]
• eFunds Corporation (EFD)
• Metavante Corporation, 2009 $2.94 billion in stock[18]
• Compliance Coach, Inc, 2010[19]
• Capco, 2010, $292 million.[20] In May 2017 FIS sold a 60% stake in Capco to CD&R funds for $477 million.[21]
• TDWI - Toronto Dominion Wealth Institutional - now re-branded as Platform Securities, 2013[22]
• mFoundry, 2013, $120 million[23]
• CMSI, 2014
• Reliance Trust Company, 2014[24] $110 million
• Clear2Pay, 2014[25][26] $480 million
• SunGard, 2015[27] $9.1 billion
• Worldpay, Inc., 2019[28] $43 billion (Deal Signed 31 July 2019)

Over the last decade (May 2010 through May 2020), FIS stock on the NYSE has risen dramatically from $27.52/share on 5/23/2010, to $135.44/share as of 5/19/2020. This represents a relative 10Y increase of 392%, or as measured in absolutes - a gain of $107.92 per share from May 2010 through May 2020.[29]

A 50% year-over-year increase in Quarterly Revenue was reported in FIS' Q1 2020 Earnings Report climbing from $2.07 billion to $3.01 billion, while Adjusted Net Earnings more than doubled (+112%) from $378 Million to $802 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.[30]

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.[31]

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".[32]

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.[33]

• Fidelity National Financial

• FIS — official site

• Business data for FIS:
  • Google Finance
  • Yahoo! Finance
  • SEC filings