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.[2]
FIS was ranked second in the FinTech Forward 2016 rankings.[3] After acquiring Worldpay for $35 billion in Q3 of 2019, FIS became the largest processing and payments company in the world.[4]
Throughout its history, FIS has made many acquisitions.[7] Its largest to date would have been estimated around US$70 billion, but which fell through in December 2020.[8]
Alltel Information Services, $1.05 billion (2003)[7]
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.[33] In July 2023, FIS agreed to sell a 55percent stake in WorldPay to private equity firm GTCR for $11.7billion, valuing WorldPay at $18.5billion.[34] 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 $18.5 billion USD, including $1 billion USD 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.[35]
A 50% year-over-year increase in quarterly revenue was reported in FIS' Q1 2020 earnings report, climbing from $2.07billion to $3.01billion, while adjusted net earnings more than doubled (+112%) from $378million to $802million. 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.[36]
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.[37]
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.[38] 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".[39]
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.[40]
US$13.88 billion (2021)[1]
US$82.93 billion (2021)[1]
