Fidelity National Information Services, Inc. (FIS) is an American multinational corporation which offers a wide range of financial products and services. FIS is most known for its development of Financial Technology, or FinTech. Annually, FIS facilitates the movement of roughly $9 trillion through the processing of approximately 75 billion transactions in service to more than 20,000 clients around the globe.[2]
FIS was ranked second in the FinTech Forward 2016 rankings.[3] After acquiring Worldpay for $35 billion in Q3 of 2019, FIS became the largest processing and payments company in the world.[4]
History
The company was founded in Little Rock in 1968 as Systematics, which was later acquired by ALLTEL Information Services as its Financial Services division. Alltell then sold this division to title insurance giant Fidelity National Financial in 2003, who renamed it Fidelity Information Services (FIS).[5]
Operations
FIS has a portfolio of products for the financial services sector, including both retail and investment banking.[6] They include "Profile"―a banking application based on the open sourceGT.M, a transaction processing database engine maintained by FIS.[7]
Mergers, acquisitions and divestments
Throughout its history, FIS has made many acquisitions.[8] Its largest, a proposed merger with Global Payments, was reported as being worth US$70 billion of combined enterprise value. Discussions about the merger were halted in December 2020.[9]
Alltel Information Services, $1.05 billion (2003)[8]
In February 2023, in the wake of pressure from activist investors, the company announced it would spin off its merchant business that consisted of Worldpay in the next 12 months.[36] In July 2023, FIS agreed to sell a 55percent stake in Worldpay to private equity firm GTCR for $11.7billion, valuing WorldPay at $18.5billion.[37] On February 1, 2024, the company announced it had competed the sale of a majority stake in its Worldpay Merchant Solutions business to GTCR in a transaction that valued the deal at US$18.5 billion, including US$1 billion contingent on returns realized by GTCR. FIS will maintain commercial agreements with Worldpay and will create a joint strategic go-to-market partnership between the two entities.[38]
Finances
FIS has experienced fluctuating revenue and profitability in recent years, influenced by acquisitions, divestitures, and restructuring efforts, most notably around its Worldpay business. After a decline in 2022,[39] the company stabilised its performance in 2023 and returned to growth in 2024.
In 2024, FIS reported $14.51 billion in revenue,[40] an increase from $14.50 billion in 2023.[41] Operating income grew significantly to $3.55 billion, and net income reached $1.94 billion, reflecting improved margin performance following the spin-off of Worldpay. As of Q1 2025,[42] the company reported strong quarterly results with a 3% year-over-year revenue increase and an adjusted EPS of $1.21. It expects to return over $1.2 billion to shareholders in 2025 through share repurchases and dividends.
Year
Revenue in mil. US$
Net income in mil. US$
Total Assets in mil. US$
Price per Share in US$
Employees
2005
2,688
197
4,189
15.77
15,000
2006
2,417
259
7,631
18.08
16,000
2007
2,893
561
9,795
22.46
18,000
2008
3,360
215
7,500
17.28
20,000
2009
3,711
106
13,998
18.23
25,000
2010
5,146
405
14,176
23.27
30,000
2011
5,626
470
13,873
25.85
33,000
2012
5,796
461
13,550
29.22
34,000
2013
6,063
493
13,960
40.54
38,000
2014
6,413
679
14,521
52.41
40,000
2015
6,596
632
26,200
62.80
55,000
2016
9,241
568
26,031
69.40
55,000
2017
9,123
1,319
24,517
86.11
53,000
2018
8,423
846
23,770
102.55
47,000
2019
10,333
298
83,806
139.09
55,000
2020
12,552
158
83,842
141.46
62,000
2021
13,877
417
82,931
109.15
65,000
2022
14,530
-16,572
83,290
63.00
65,000
2023
14,500
-6,655
76,290
65.70
53,000
2024
14,510
1,450
69,820
74.30
45,000
Controversies
On July 3, 2007, Certegy Check Services, part of FIS, announced that a worker at one of its subsidiaries stole 2.3 million consumer records containing credit card, bank account, and other personal information.[43] This estimate was later increased to 8.5 million consumer records. The next month, a law firm filed a class-action lawsuit against CCS and parent company FIS based on the privacy breach; the firm claims that, since CCS provides check-verification services to many major U.S. stores, "consumers do not choose to use the services of these companies but rather are forced to do so".[44]
In August 2011, Florida based eFunds Prepaid Solutions, part of FIS, was the victim of a sophisticated cyberattack that saw hackers steal $13 million from ATMs using 22 stolen prepaid cards belonging to a single client of FIS.[45]
On January 16-17, 2025, FIS reported a power outage causing technical issues at a large number of banks, including Capital One. Depositors report not being able to access online or mobile banking or not having accurate current data.[46]
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US$10.1 billion (2024)
US$33.8 billion (2024)