FIS Marks 2024 as a Year of Unlocking Momentum, Advancing How the World Banks

Rhea-AI Summary

FIS (NYSE: FIS) reported significant achievements in 2024, marking a year of advancement in banking technology. The company launched several key products including its Open Access platform and Digital One™ Flex Mobile 6.0, while expanding its Modern Banking Platform (MBP) beyond North America. The MBP reached notable milestones with over 3 million serviced accounts, $20+ billion in deposits, and more than $1 billion in loans.

The company enhanced its capabilities through the acquisition of Dragonfly Financial Technologies in November 2024, strengthening its commercial banking offerings. FIS received multiple industry recognitions, including being named a Leader in IDC MarketScape's North America Digital Core Banking Platforms assessment and achieving the top position in Everest Group's Core Banking Technology Top 50.

Positive

• MBP platform reached over 3 million accounts with $20+ billion in deposits and $1 billion in loans
• Increased core market share with new client wins across various bank sizes
• Strategic acquisition of Dragonfly Financial Technologies enhancing commercial banking capabilities
• Multiple prestigious industry recognitions including IDC MarketScape leadership position

Negative

• None.

Insights

Market Research Analyst

The article represents a retrospective marketing piece rather than material financial news. While FIS highlights product launches like Open Access platform and Digital One Flex Mobile 6.0, along with the Dragonfly Financial Technologies acquisition, no specific financial metrics or material business impacts are provided. The Modern Banking Platform's $20+ billion in deposits and $1 billion in loans metrics lack context regarding their contribution to FIS's overall business performance.

The various industry recognitions and platform milestones, while positive for brand reputation, don't constitute market-moving developments. This appears to be a standard year-end corporate communication piece designed to highlight operational achievements rather than announce material financial or strategic changes that would significantly impact investor decision-making.

Key Facts

• FIS’ 2024 success in advancing how the world banks included key product launches and industry accolades.
• Milestones included launching the first Modern Banking Platform (MBP) client outside North America, delivery of new open banking capabilities and recognition by CNBC as a Top 250 Fintech Company for banking solutions.
• This progress is advancing the company’s focus on unlocking financial technology to bring the world’s money into harmony.

JACKSONVILLE, Fla.--(BUSINESS WIRE)-- FIS^® (NYSE: FIS), a global leader in financial technology across the money life cycle, just completed a successful year of advancing how the world banks through the launch of several key products and technology milestones. Despite banks and financial institutions of all sizes continuing to innovate, they struggle to keep pace with the ever-increasing velocity of customer expectations for advanced, frictionless capabilities across their multitude of digital channels and back-office operations.

Throughout 2024, FIS’ primary research illuminated consumer demand for more advanced banking experiences, including more robust security, access to digital banking apps, and support systems that help relieve their financial anxieties. The company’s successes over the past year represent its unwavering commitment to helping its clients deliver more impactful banking experiences to their customers.

FIS’ decades of investments in banking capabilities provides its clients with best-in-class assets and technologies, together with modernization options that fit institutions of all sizes and deployment preferences.

The company’s strong position is supported by its global client base who rely on FIS’ banking and payment capabilities to service their customers and grow, run and protect their businesses. Client institutions range from large financial institutions and regional banks to community institutions and direct digital banks, the latter being the fastest deposit growing institution type in the U.S. Over the last 12 months, the company has increased its core market share, with several marquee new client wins across banks of all asset sizes.

Expanding Capabilities with New Solution Launches

Helping clients accelerate delivery of open banking capabilities to their customers, FIS launched its Open Access platform in 2024, which is designed to allow customers of FIS client banks and credit unions to securely share their financial data with a greater number of financial institutions and apps.

The company also released Digital One™ Flex Mobile 6.0, a new mobile banking application that combines slick, intuitive interfaces, with rich functionality and industry-leading security features to advance the primary interaction channel – mobile banking – between a bank and its customers.

The November 2024 acquisition of Dragonfly Financial Technologies delivered new cash management capabilities for large and complex businesses, which the company is bringing to market through its Digital One Commercial offering.

And supporting speedy delivery of open banking capabilities, FIS also launched Enterprise Disbursements, a new pay-by-bank solution for business and consumers.

“To advance the business of banking, you have to unlock new technologies and capabilities and deliver them at scale,” noted FIS CEO and President Stephanie Ferris. “Few companies can match the scale FIS brings to market. That gives us a tremendous advantage in helping our clients succeed in the business of banking today at the same time they’re ramping up for growth and success tomorrow.”

Driving Record Year for Industry Recognitions

FIS received nearly two dozen recognitions from respected industry analyst firms for its products, services and capabilities across the entire banking spectrum. Among these achievements, FIS:

• Was recognized as a Leader in IDC MarketScape’s North America Digital Core Banking Platforms 2024 Vendor Assessment report
• Won the Advanced Technology Category of Celent’s 2024 XCelent Awards for its HORIZON community core banking platform
• Achieved the No. 1 spot in Everest Group’s Core Banking Technology Top 50
• Was recognized by CNBC as a Top 250 Fintech Company in the Banking Solutions category, making it the second consecutive year FIS has received this honor
• Saw Celent recognize Modern Banking Platform (MBP) for the platform’s advanced technology and breadth of functionality

MBP now serves the greatest number of large financial institutions amongst its peer set and is the fastest-growing core platform in the U.S. In 2024, the platform reached over three million open and serviced accounts, $20+ billion in deposits and more than $1 billion in loans.

The platform also achieved three new milestones over the last 12 months by launching its first client on a public cloud infrastructure, launching its first client outside North America and expanding its deployment options by licensing its first on-premise client.

About FIS

FIS is a financial technology company providing solutions to financial institutions, businesses and developers. We unlock financial technology that underpins the world’s financial system. Our people are dedicated to advancing the way the world pays, banks and invests, by helping our clients confidently run, grow and protect their businesses. Our expertise comes from decades of experience helping financial institutions and businesses adapt to meet the needs of their customers by harnessing the power that comes when reliability meets innovation in financial technology. Headquartered in Jacksonville, Florida, FIS is a member of the Fortune 500® and the Standard & Poor’s 500® Index.

To learn more, visit www.fisglobal.com. Follow FIS on Facebook, LinkedIn and X.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250114895882/en/

Kim Snider

Senior Vice President

FIS Global Marketing and Communications

904.438.6278

kim.snider@fisglobal.com

Source: Fidelity National Information Services

FAQ

What are the key achievements of FIS's Modern Banking Platform (MBP) in 2024?

FIS's MBP achieved over 3 million serviced accounts, $20+ billion in deposits, and $1 billion in loans. It launched its first client outside North America, first client on public cloud infrastructure, and first on-premise client.

What major acquisitions did FIS (NYSE: FIS) make in 2024?

FIS acquired Dragonfly Financial Technologies in November 2024 to enhance its cash management capabilities for large businesses, which is being integrated into its Digital One Commercial offering.

What new banking products did FIS launch in 2024?

FIS launched the Open Access platform for secure financial data sharing, Digital One™ Flex Mobile 6.0 for mobile banking, and Enterprise Disbursements, a new pay-by-bank solution.

What major industry recognitions did FIS receive in 2024?

FIS was recognized as a Leader in IDC MarketScape's North America Digital Core Banking Platforms assessment, won Celent's XCelent Award, ranked #1 in Everest Group's Core Banking Technology Top 50, and was named a CNBC Top 250 Fintech Company.