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.
FIS has been recognized as the top provider in the Chartis RiskTech100 for the sixth consecutive year, according to Chartis Research. FIS excelled in several categories, including Functionality, Market Presence, and Risk Management. The firm is noted for its innovative technology that aids organizations in navigating complex risk landscapes, particularly in a post-pandemic context. Significant investments have been made to enhance integrated risk management solutions across various sectors, reinforcing FIS's commitment to helping clients manage regulatory challenges effectively.
FIS, a global leader in financial services technology, will present at the Stephens Annual Investment Conference on Nov. 16, 2020, at 2:00 p.m. (EST) and at Citi's Financial Technology Virtual Conference on Nov. 18, 2020, at 4:30 p.m. (EST). Investors can access a live audio webcast and replay on the Investor Relations page of the FIS website. FIS is dedicated to advancing payment, banking, and investment technologies, helping clients tackle business challenges through innovative solutions. The company is headquartered in Jacksonville, Florida, and is a member of the S&P 500.
FIS has been chosen as the exclusive payments provider for Reynolds and Reynolds, a leader in automotive dealership software. The multi-year agreement allows FIS's Worldpay to manage all payment processing for ReyPAY, enhancing security and efficiency. This collaboration aims to streamline payment operations and improve accounting capabilities for dealerships. Executives from both companies highlighted the potential for innovative payment experiences and operational excellence, enhancing customer interactions and accelerating revenue generation for automotive dealers.
FIS reported Q3 2020 results with a 13% revenue increase to $3,197 million, significantly bolstered by the acquisition of Worldpay. Net earnings for common stockholders were $20 million, down 87% year-over-year. Organic revenue grew by only 1% amid the COVID-19 pandemic. Adjusted EBITDA margin rose by 30 bps to 42.5%, reflecting cost synergies from Worldpay. Merchant Solutions surged by 44%, while Capital Market Solutions faced a 1% decline in organic growth. The company maintained strong liquidity with $4,227 million available as of September 30, 2020.
FIS has been selected by the National Rural Utilities Cooperative Finance Corporation (CFC) to enhance its loan origination and management platform. This partnership aims to consolidate CFC's existing loans systems using FIS' Commercial Lending Suite, which includes solutions for Commercial Loan Origination and Commercial Loan Servicing (ACBS). CFC, a nonprofit organization, provides financing to electric cooperatives across the U.S. This collaboration is set to streamline CFC's lending processes and improve service delivery to its members.
FIS has announced that its Chairman, President, and CEO, Gary Norcross, has been awarded the 2020 Corporate Citizenship Award from the Committee for Economic Development. This award recognizes leadership in corporate responsibility, reflecting FIS's commitment to societal issues such as economic growth and sustainability. Norcross is one of six corporate leaders honored at the virtual event. The award acknowledges FIS’s ongoing initiatives to enhance business practices positively impacting communities worldwide.
FIS has partnered with Brazilian fintech Afinz to provide processing services for its private-label credit card portfolio. Afinz, formerly Sorocred, aims to enhance its operations and support growth by outsourcing card processing to FIS. The migration to FIS's advanced credit card processing platform was completed in early September, improving operational efficiency. This long-term agreement also includes services for a new co-branded credit card with Visa, indicating Afinz's commitment to expand its offerings in the Brazilian market.
FIS announced a quarterly dividend of $0.35 per common share, payable on December 28, 2020, to shareholders on record as of December 14, 2020. This action reflects FIS's commitment to returning value to shareholders while maintaining a robust financial position in the financial services technology sector.
FIS has added Walgreens to its Premium Payback network, enabling customers to redeem credit card rewards in real-time for in-store purchases. The integration allows Walgreens shoppers to utilize loyalty points during transactions, enhancing customer value. This service comes amid a growing list of participating merchants, including Paypal and Shell, and is supported by over 7,000 card loyalty programs, representing approximately 37 million eligible cardholders. The initiative is designed to drive customer loyalty and shopping frequency at Walgreens.
FIS has expanded its operations in Latin America by acquiring domestic card scheme licenses in Argentina. This move allows local merchants to process payments in-country using Worldpay’s extensive merchant solutions. As the largest global acquirer in Argentina, Worldpay will capitalize on the rapid growth of eCommerce, projected to double by 2023, especially in mobile sales. This expansion enhances international market access for Argentine consumers and positions FIS favorably in a rapidly evolving digital payment landscape.
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