Fidelity Natl Information Svcs Stock Price, News & Analysis

FIS has expanded its InnovateIN48 fintech competition to early-stage fintech startups in the APAC region, marking a significant move for the program. This year's event attracted nearly 200 companies from 11 markets, including India, Singapore, and Australia, emphasizing themes of Data Innovation, Digital Assets, and AI in Fintech. The competition aims to foster innovation and support startups in developing market-ready solutions. Finalists received recognition and potential opportunities to collaborate with FIS.

Alegeus has expanded its executive leadership team by appointing Roy Luria as General Counsel and Corporate Secretary, and Dan Brames as Chief Payments Officer. Luria brings 25 years of experience in legal support and corporate governance, notably serving at Cybereason and Mavenir. Brames, with a similar tenure in financial services, previously held leadership roles at FIS. These appointments aim to enhance Alegeus' capabilities in legal compliance and payments, thereby supporting its growth strategy in the evolving healthcare payment solutions market.

FIS, a global leader in financial services technology, will present at the Citi 2022 Fintech Conference on November 15, 2022, at 9:30 a.m. (EST). The live audio webcast and replay will be available on investor.fisglobal.com. Headquartered in Jacksonville, Florida, FIS provides technology solutions for financial institutions and businesses globally, enhancing the way the world pays, banks, and invests. The company is a member of the Fortune 500 and Standard & Poor’s 500 indexes.

FIS has partnered with the Jacksonville Jaguars to enhance the fan experience at TIAA Bank Field through advanced payment technology. As the exclusive payment processor, FIS has installed 600 point of sale terminals for fast transactions on game day. Fans can now quickly buy tickets, merchandise, and food without missing out on the action. This initiative reflects FIS's commitment to innovation in Jacksonville, coinciding with its new global headquarters nearby.

FIS reported a 3% revenue increase year-over-year, totaling $3.6 billion, with a diluted EPS of $0.41 for Q3 2022. Adjusted EPS rose 1% to $1.74, while adjusted net earnings fell 1% to $1.1 billion. The company returned $1.3 billion to shareholders through dividends and share repurchases. Despite challenges from macroeconomic conditions, FIS announced an Enterprise Transformation Program aiming for $500 million in cost savings. With a leadership transition set for January 2023, expectations for Q4 and full-year guidance were slightly adjusted due to market uncertainties.

FIS has released a study indicating that Millennials in the U.S. are more inclined to adopt new financial technologies than Gen Z, particularly in embedded finance experiences. Key findings reveal that 55% of Millennials and 48% of Gen Zs are likely to purchase via social media in the next year. Additionally, 32% of Millennials are likely to use neobanks, outpacing Gen Zs at 22%. The report underscores a growing trend where younger generations favor loyalty apps over traditional methods, signaling significant market potential for businesses embedding financial services within social platforms.

FIS has announced that Walmart will join its Premium Payback program, allowing customers to redeem credit card rewards for discounts at over 4,700 U.S. Walmart stores. This initiative aims to enhance consumer savings during challenging economic times. Millions of eligible cardholders will benefit from real-time discounts at checkout with a prompt. The partnership aligns with Walmart's mission to help customers save money, while FIS aims to support consumer engagement through innovative financial solutions.

FIS, a global financial services technology leader, declared a quarterly dividend of $0.47 per common share. This dividend will be payable on December 23, 2022, to shareholders on record as of December 9, 2022. FIS provides innovative technology solutions to financial institutions and businesses globally, enabling efficient commerce operations.

FIS has appointed Stephanie Ferris as President and CEO, effective January 1, 2023. She succeeds Gary Norcross, who transitions to Executive Chairman. Ferris has extensive experience, having led the integration of Worldpay into FIS, significantly exceeding revenue and cost targets. Norcross remarks on the company's growth from $6 billion to $14 billion during his leadership. FIS expects its Q3 revenues and adjusted earnings per share to meet guidance, with more details to be shared in the upcoming earnings call.