FIS Old heads, new thoughts


Mark Smith talks tech innovation, Trump and compliance/ regulations with Andrew Beatty, SVP Global Financial Solutions at FIS


IBS Journal January 2017


19


administration, tighter European regulation and increasing customer demands are among the challenges facing the financial technology sector according to one of its biggest players. For an industry so often enamoured with youthful entrepreneurship, startups and the ‘next big thing’, FIS could be considered something of a FinTech elder statesman.


U


Formed in 1968, the company has more than 20,000 clients in over 130 countries and a workforce of 55,000 around the globe. But even for a Fortune 500 giant where major deals are something of the norm, recent months have proven to be eventful.


In December, it announced plans to sell its SunGard public sector and education businesses to Vista Equity Partners for $850 million, with the deal expected to be finalised in the first quarter of this year. The move by the Jacksonville, Florida-based company came a little


ncertainty over the new US


over 12 months after it acquired the firm, with CEO Gary Norcross saying the divestiture would allow it to concentrate on its traditional services of providing software, consultancy and outsourcing for the banking sector.


And one of the crown jewels in that software offering is its Customer Experience Suite. It uses advanced analytics to apply value to an individual customer’s relationship to a bank, creating what the firm calls ‘a market of one’. The suite combines the bank’s own individual customer data with external information to create what FIS calls a ‘360 degree’ vv of each person, even predicting life events such as when they might buy a car or pay for a college education. It was recently made available in North America and now the firm plans to expand the service around the world.


“The suite is a powerful pre-integrated solution set that provides universal customer information management,


www.ibsintelligence.com


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27