Contact office: 601 Riverside Avenue, Jacksonville, FL 32204, US Tel: +1 904 438 6000 Other Offices: Argentina, Australia, Barbados, Brazil, Canada, Chile, China, Denmark, France, Germany (6), Hong Kong, Indonesia, Malaysia, Netherlands, Peru, Philippines, Poland, Taiwan, Thailand, Saudi Arabia, Singapore, UAE, UK (6), US (7) Website:
www.fisglobal.com Twitter: @FISGlobal Contact: Ian Benn, COO, EMEA Tel: +44 (0) 1923 713 172 Email:
ian.benn@
fnis.com Founded: Metavante founded 1964; joined FIS in 2009; Systematics founded in 1968; Deluxe Electronic Payment Systems in 1976; Sanchez in 1979; Alltel Information Services in 1981; eFunds Corporation in 1999; Fidelity Information Services in 2003; Fidelity National Information Services in 2006. Ownership: FIS (NYSE:FIS) is a publicly traded company on the New York Stock Exchange and included in the S&P 500 Index Number of staff: 55,000+ Number of clients: 20,000 financial institutions and businesses in more than 130 countries Principal partners: None specified Payments products: Connex, IST/Switch, Data Navigator, IST/Clearing, IST/MAS, Fraud Navigator, Liability Manager, EnterpriseView, Cortex, CSF FasTest, CSF Designer, Base2000 Categories: Retail payments processing, card management (credit, debit, smartcard, prepaid), fraud management, cheque image processing
Summary history
2003 February – Fidelity National Financial (FNF) buys Alltel Information Services for $1.05 billion to create Fidelity Information Services (FIS). Alltel brought mortgage servicing and retail banking operations, commercial lending, online banking and wholesale banking offerings, and community and regional bank divisions. For the first time, it gave FNF an international business.
2004
September – FNF drops plans to file for a $500 million IPO, citing ‘a weak and unpredictable equity market’ and its recent acquisition of Intercept, which provided outsourced and in- house banking solutions for 425 community banks, plus item processing and cheque imaging services for 720 customers.
2005
January – FNF undertakes a $500 million recapitalisation programme, selling a 25 per cent stake to equity firms Thomas H Lee Partners and Texas Pacific Group.
2005
September – FIS merges with Florida-based card and cheque processing vendor, Certegy. The arrangement is based on a stock-for-stock deal, and gives FIS majority control of the new combined public company, to be known as Fidelity National Information Services (FNIS). FIS gains a 67.5 per cent stake, while Certegy shareholders pick up 32.5 per cent. FNF owns half of the new company. The merger finally lay to rest FIS’s long-running search for a way to go public. Although FIS was the acquirer from an ownership perspective, the company merged into Certegy as
158 a public company.
2006 February – From 1st February, FNIS becomes operational as a spun-off company from FNF Inc., with estimated revenues of $4 billion, 19,000 employees and over 60,000 customers. While much of the focus was on organic growth, it was stated that FNIS would have ‘its own currency’ – its stock – and would actively pursue other opportunities. A little under half of the ownership of FNIS remained with FNF. The aim was to turn FNF more or less into a holding company, with the other businesses also being turned into separate companies. One key aim would be to take some of the applications and processes in the US and move them out into the international market.
2007 July – FNIS acquires payments processor EFD/eFunds Corporation of Arizona. The all-cash transaction was valued at $1.8 billion. EFD had been spun off by US paper cheque printer Deluxe Corporation in 2000. The company had total revenues of $552 million in 2006. Fidelity gained three lines of business: US payments, US
risk management, and international. EFD’s US payments line gave Fidelity a strong ATM, debit, prepaid, and gift card processing business, as well as smaller operations that processed ACH and electronic government benefits transactions. EFD’s processing platforms utilised the vendor’s own technology, including the Connex and IST electronic funds transfer software packages. EFD’s international business line marketed its software and
provided ATM and debit card processing, with an emphasis on Central and Eastern Europe and south Asia. Thirteen per cent of EFD’s revenues came from its international business, 34 per cent from US risk management, and 53 per cent from US
Payment Systems & Suppliers Report |
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company details
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