Welcome to our dedicated page for Fidelity Natl Information Svcs news (Ticker: FIS), a resource for investors and traders seeking the latest updates and insights on Fidelity Natl Information Svcs stock.
Fidelity National Information Services, Inc. reports developments in financial technology services for banks, financial institutions, businesses and developers. News commonly covers core banking and payments platforms, issuer processing, SaaS reconciliation through FIS Data Integrity Manager, asset servicing tools such as FIS Proxy Voting by Proxymity, and digital money products including Lyriq for tokenized deposits and digital currencies.
Company updates also include client selections, technology partnerships, AI agents for financial-crimes and AML workflows, quarterly results, outlook commentary, dividends, and the integration of completed portfolio actions such as the Issuer Solutions acquisition and Worldpay exit.
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.
FIS, a global leader in financial services technology, will release its third quarter 2022 financial results on November 3, 2022, before market opening. The company will host a live earnings conference call at 8:30 a.m. EDT, accessible via its Investor Relations page. FIS provides innovative technology solutions for financial institutions and businesses, aiming to enhance commerce through advanced financial technology. The company is listed on the NYSE under the symbol FIS.
FIS has launched Worldpay for Platforms, a new SaaS solution that integrates global merchant and banking capabilities to empower software companies serving small-to-medium businesses (SMBs). Following the acquisition of Payrix, this platform aims to streamline payment and finance features, enabling software providers to enhance user experiences with minimal integration effort. It offers comprehensive payment solutions, facilitating various transactions, managing finances, and delivering tailored support, positioning itself as a crucial tool for SMBs to compete effectively.
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FIS has launched RealNet™ Central, a payment solution aimed at enhancing real-time payment infrastructures globally. This initiative addresses the need for countries to modernize or establish their payment networks, with 72% of the world's population expected to access instant payments. Additionally, FIS introduced a CBDC Virtual Lab, allowing central banks to experiment with digital currencies. This innovative platform supports over one million transactions per second, promoting faster and more secure transactions in an increasingly digital economy.
Kasisto has secured an additional $15.5 million in Series C funding, led by Fidelity Information Services (FIS) and Westpac Banking Corporation, increasing total Series C funding to $31 million. This funding aims to accelerate growth in the US community banking market and enhance global AI innovation partnerships. Kasisto's KAI platform is a leader in conversational AI for financial services, aimed at improving customer experience and service models. The investment reflects confidence in Kasisto's growth and vision for the future of banking.
FIS announced that John Durrant will become the new President of Banking Solutions effective September 1. Durrant succeeds Martin Boyd, who is retiring but will assist in the transition until year-end. Durrant brings 25 years of experience from reputable firms like Bank of America and Capital One and is expected to drive innovation and client focus within the division. Boyd has been with FIS since 2015 and played a key role in the company's success.