Fidelity Natl Information Svcs Stock Price, News & Analysis

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.

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.

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.

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.

FIS has expanded its Worldpay merchant solutions into South Korea, tapping into a projected eCommerce market growth from $121 billion in 2021 to $243 billion by 2025.

This strategic move, via a partnership with TossPayments, aims to enhance domestic acquiring capabilities for global merchants, offering vital payment services and insights. As digital wallet usage grows, predicted to comprise a third of eCommerce spending by 2025, FIS positions itself to support merchants' seamless integration into this lucrative market.

FIS announced a quarterly dividend of $0.47 per common share, payable on Sept. 30, 2022, to shareholders of record by Sept. 16, 2022. This dividend payout reflects FIS's commitment to delivering shareholder value. As a leading provider of financial services technology, FIS serves institutions globally, helping to advance commerce through innovative solutions. The company continues to be a key player in the financial tech sector, listed in the Fortune 500 and S&P 500 indices.

FIS has expanded its wealth management solutions by introducing self-invested personal pension (SIPP) servicing in the U.K.. This initiative, in partnership with Quai Digital, aims to support wealth managers by enhancing their operational capabilities. The new service leverages FIS's wealth management technology to reduce operational costs while providing tailored solutions for clients. With the U.K. market holding £1.3 trillion in assets under management, this expansion positions FIS for greater influence in the competitive wealth management sector.

FIS (NYSE: FIS), a leader in financial services technology, announced the pricing of its senior notes offering totaling $2.5 billion. The offering includes:

• $750 million 4.500% notes due 2025;
• $500 million 4.700% notes due 2027;
• $750 million 5.100% notes due 2032;
• $500 million 5.625% notes due 2052.