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Fidelity National Information Services, Inc. - FIS STOCK NEWS

Welcome to our dedicated page for Fidelity National Information Services news (Ticker: FIS), a resource for investors and traders seeking the latest updates and insights on Fidelity National Information Services stock.

Fidelity National Information Services, Inc. (FIS) is a global leader at the heart of commerce and financial transactions, powering the world's economy. With a mission to advance the way the world pays, banks, and invests, FIS serves over 20,000 clients and more than one million merchant locations across 130 countries.

FIS offers a comprehensive suite of solutions that span across core processing, payments, risk management, compliance, and outsourcing services. Its clientele includes banks, investment firms, and merchants. By acquiring SunGard in 2015, FIS expanded its capabilities to include record-keeping and other essential services for investment firms. The 2019 acquisition of Worldpay marked FIS's significant entry into the payment processing market, securing leading positions in both the United States and the United Kingdom.

Though FIS has since sold a majority interest in Worldpay, retaining only a minority stake, the company continues to innovate and adapt. Recent achievements include advancements in digital payments and enhanced security measures, enabling seamless and secure financial transactions.

FIS's financial condition remains robust, supported by strategic partnerships and a diversified portfolio of products. Their ongoing projects focus on improving transaction efficiency, enhancing customer experience, and expanding their global footprint. For more information, visit FIS Global.

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FIS has launched Worldpay for Platforms, a new SaaS solution that integrates global merchant and banking capabilities to empower software companies serving small-to-medium businesses (SMBs). Following the acquisition of Payrix, this platform aims to streamline payment and finance features, enabling software providers to enhance user experiences with minimal integration effort. It offers comprehensive payment solutions, facilitating various transactions, managing finances, and delivering tailored support, positioning itself as a crucial tool for SMBs to compete effectively.

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FIS has launched RealNet™ Central, a payment solution aimed at enhancing real-time payment infrastructures globally. This initiative addresses the need for countries to modernize or establish their payment networks, with 72% of the world's population expected to access instant payments. Additionally, FIS introduced a CBDC Virtual Lab, allowing central banks to experiment with digital currencies. This innovative platform supports over one million transactions per second, promoting faster and more secure transactions in an increasingly digital economy.

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Kasisto has secured an additional $15.5 million in Series C funding, led by Fidelity Information Services (FIS) and Westpac Banking Corporation, increasing total Series C funding to $31 million. This funding aims to accelerate growth in the US community banking market and enhance global AI innovation partnerships. Kasisto's KAI platform is a leader in conversational AI for financial services, aimed at improving customer experience and service models. The investment reflects confidence in Kasisto's growth and vision for the future of banking.

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FIS announced that John Durrant will become the new President of Banking Solutions effective September 1. Durrant succeeds Martin Boyd, who is retiring but will assist in the transition until year-end. Durrant brings 25 years of experience from reputable firms like Bank of America and Capital One and is expected to drive innovation and client focus within the division. Boyd has been with FIS since 2015 and played a key role in the company's success.

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FIS has announced the ten fintech companies selected for the 2022 FIS Fintech Accelerator program, which includes firms focusing on green banking, P2P payments, debt management, and more. This year, 30% of participants are women-founded companies. The program, now in its seventh year, aims to foster high-potential fintech innovations through mentoring, training, and investments. Graduates often secure further funding and partnerships with FIS. A public showcase of these innovations will occur on November 9.

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ANZ New Zealand has partnered with FIS to implement its Modern Banking Platform on Microsoft Azure, marking the first deployment outside the U.S.. This cloud-based solution will modernize core banking capabilities, enhancing security and customer service. With 91% of financial institutions embracing cloud services, FIS aims to help ANZ innovate and speed up its banking services. Upgrading technology is part of ANZ's five-year investment plan, ensuring continued delivery of reliable services, pending regulatory approval.

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FIS reported a revenue increase of 7% on a GAAP basis and 8% on an organic basis to $3.7 billion for Q2 2022. Diluted EPS reached $0.45, while adjusted EPS rose 7% to $1.73. The company returned $600 million to shareholders through share repurchases and dividends, reducing leverage to 2.9 times. Merchant Solutions led with an 11% revenue growth despite challenges from the Russia/Ukraine conflict. Notably, CFO James “Woody” Woodall will step down on November 4, 2022, succeeded by Erik Hoag. Full-year guidance was updated to reflect macroeconomic conditions and divestitures.

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Worldpay from FIS has expanded its partnership with Chargebacks911 to introduce enhanced Disputes Deflector products aimed at reducing chargebacks and fraud for merchants. With 65% of merchants facing increased chargeback fraud in 2022, this initiative addresses a critical issue in the fintech landscape. The Disputes Deflector suite offers five products that integrate best-in-class solutions and streamline dispute management. This move reflects a shift towards automated processes in response to evolving merchant needs and consumer behaviors.

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FAQ

What is the current stock price of Fidelity National Information Services (FIS)?

The current stock price of Fidelity National Information Services (FIS) is $81.4 as of December 23, 2024.

What is the market cap of Fidelity National Information Services (FIS)?

The market cap of Fidelity National Information Services (FIS) is approximately 43.5B.

What does Fidelity National Information Services (FIS) do?

FIS provides core processing, payment solutions, risk management, compliance, and outsourcing services to financial institutions and merchants globally.

Who are the clients of FIS?

FIS serves over 20,000 clients including banks, investment firms, and merchants across more than 130 countries.

What is the significance of FIS's acquisition of SunGard?

The acquisition of SunGard in 2015 expanded FIS's services to include record-keeping and other essential services for investment firms.

What happened to Worldpay after FIS's acquisition?

After acquiring Worldpay in 2019, FIS later sold off a majority interest, retaining only a minority stake.

How does FIS contribute to the global economy?

FIS powers commerce and financial transactions worldwide, helping businesses and communities thrive by advancing payment, banking, and investment processes.

What are the latest advancements by FIS?

Recent advancements by FIS include digital payment innovations and enhanced security measures to ensure seamless and secure financial transactions.

Where can I find more information about FIS?

More information about FIS can be found on their official website at http://www.fisglobal.com.

What is the financial condition of FIS?

FIS maintains a robust financial condition supported by strategic partnerships and a diversified product portfolio.

What are the current projects of FIS?

Current projects at FIS focus on improving transaction efficiency, enhancing customer experience, and expanding their global footprint.

How extensive is FIS's global reach?

FIS operates in over 130 countries, serving more than 20,000 clients and over one million merchant locations.

Fidelity National Information Services, Inc.

NYSE:FIS

FIS Rankings

FIS Stock Data

43.53B
537.79M
0.11%
97.94%
2.37%
Information Technology Services
Services-business Services, Nec
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United States of America
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