Fidelity National Information Services, Inc. - FIS STOCK NEWS

FIS reported strong second quarter 2021 results with revenue increasing 17% year-over-year to approximately $3.5 billion, exceeding $500 million. Organic revenue growth reached 16%, with adjusted net earnings up 40% to $1 billion. All operating segments saw growth: Merchant Solutions surged 45%, Banking 8%, and Capital Markets 6%. Notably, FIS raised its revenue synergy target for 2021 to $700 million, driven by solid execution from the Worldpay acquisition. As of June 30, 2021, net cash provided from operations was $1 billion, with dividends of $242 million paid and share repurchases of 2.7 million shares.

FIS is enhancing its Modern Banking Platform by adding innovative components for retail lending and commercial onboarding, catering to the rising demand for digital banking solutions among financial institutions. Key banks, including Fifth Third and BMO Harris, are already deploying these advanced features. The platform now boasts over 60 components, leveraging an open, API-based architecture for seamless integration. This evolution is expected to improve customer experiences and help banks remain competitive in the accelerating digital transformation of the financial sector.

FIS, a leader in financial services technology, has declared a regular quarterly dividend of $0.39 per common share. This dividend will be payable on September 24, 2021, to shareholders on record by September 10, 2021. This dividend reflects the company's commitment to returning value to its shareholders while maintaining a strong financial position.

FIS has partnered with OKCoin to enhance its global merchant acquiring and foreign exchange services, facilitating smoother card-to-crypto payments. This collaboration will support OKCoin's expansion into 190 countries, allowing users to convert fiat to cryptocurrencies like Bitcoin and Ethereum. With FIS processing over $2 trillion in transactions annually, the partnership promises efficient payment solutions, advanced reporting, and improved fraud monitoring. FIS aims to simplify cryptocurrency access and drive growth in the evolving digital currency market.

MoonPay has partnered with FIS for merchant acquiring services across over 160 countries and 80 digital currencies. This collaboration allows MoonPay to enhance its payment processing capabilities for cryptocurrencies and NFTs, crucial as demand for digital assets grows. FIS's Worldpay will facilitate credit and debit card transactions, supporting MoonPay's expansion and user experience goals. FIS processes over $2 trillion in transactions annually, furthering its commitment to advance payment technologies.

Fifth Third Bank has announced its collaboration with FIS (NYSE: FIS) to implement its next-generation banking platforms, replacing outdated systems. The FIS Modern Banking Platform aims to enhance digital transformation, improve customer service, and generate operational efficiencies. Additionally, the FIS Unity wealth management platform will integrate advanced functionalities to optimize client offerings. This multi-year agreement supports Fifth Third's commitment to modernize and streamline operations while addressing evolving customer needs.

FIS will announce its Q2 2021 financial results on August 3, 2021, before market open. A live webcast of the earnings conference call will start at 8:30 a.m. EDT on the same day. Investors can access the webcast through the Investor Relations section on FIS' website. FIS is a global leader in financial services technology, providing innovative solutions for merchants and banks globally.

FIS has partnered with USALLIANCE Financial to implement the Payments One platform, enhancing its digital payment offerings.

USALLIANCE, managing over $2 billion in assets, seeks to leverage the integrated capabilities of Payments One for better card processing and fraud protection.

This strategic collaboration aims to capture market growth, particularly as 15% of credit union members lack cards, presenting a significant opportunity. The platform's features include API integration, marketing services, and robust security, enabling USALLIANCE to differentiate its services in a competitive landscape.