Fidelity Natl Information Svcs Stock Price, News & Analysis

FIS has appointed former COO and Worldpay CFO, Stephanie Ferris, to its executive leadership team. She rejoined FIS on September 2, 2021, as Chief Administrative Officer.

Ferris brings over 15 years of fintech and payments experience, focusing on strategy execution and technology. Her previous roles include spearheading the global integration of FIS and Worldpay, driving both cost and revenue synergies.

CEO Gary Norcross expressed confidence in Ferris's capabilities to enhance client and shareholder value.

FIS Fintech Accelerator concluded its sixth year with a successful Demo Day showcasing ten growth-stage fintech companies. Long Game and Tax Status were recognized with awards for their innovative solutions. Governor Asa Hutchinson and FIS CEO Gary Norcross announced an extension of the program for 2022. The initiative, in collaboration with the Venture Center, aims to nurture technologies in banking and payments. Notably, 30% of participating firms were women-owned, emphasizing diversity within the fintech space.

FIS (NYSE: FIS) announced the winners of the 2021 FIS Impact Awards, which recognize organizations leveraging FIS technology to enhance customer service and drive business results. Winners include Baker Boyer National Bank, Boost Payment Solutions, CDK Global, NRW.BANK, Quontic Bank, and Walgreens. Each winner will receive a $10,000 donation to a charity of their choice from the FIS Foundation. This initiative highlights FIS's commitment to innovation and community support, showcasing how technology improves efficiency and customer satisfaction across various sectors.

FIS has opened its annual InnovateIN48 innovation program to U.S. college students, expanding participation beyond its employees. Scheduled for August 27-29, 2021, the inaugural InnovateIN48-Student Edition invites students to develop fintech solutions aimed at enhancing financial inclusion. Registration is currently open for all U.S. college students. Winners will receive prizes, and opportunities for internships and full-time roles at FIS. This initiative aims to bridge the digital gap for underbanked populations, showcasing FIS's commitment to fostering talent in the fintech sector.

FIS reported strong second quarter 2021 results with revenue increasing 17% year-over-year to approximately $3.5 billion, exceeding $500 million. Organic revenue growth reached 16%, with adjusted net earnings up 40% to $1 billion. All operating segments saw growth: Merchant Solutions surged 45%, Banking 8%, and Capital Markets 6%. Notably, FIS raised its revenue synergy target for 2021 to $700 million, driven by solid execution from the Worldpay acquisition. As of June 30, 2021, net cash provided from operations was $1 billion, with dividends of $242 million paid and share repurchases of 2.7 million shares.

FIS is enhancing its Modern Banking Platform by adding innovative components for retail lending and commercial onboarding, catering to the rising demand for digital banking solutions among financial institutions. Key banks, including Fifth Third and BMO Harris, are already deploying these advanced features. The platform now boasts over 60 components, leveraging an open, API-based architecture for seamless integration. This evolution is expected to improve customer experiences and help banks remain competitive in the accelerating digital transformation of the financial sector.

FIS, a leader in financial services technology, has declared a regular quarterly dividend of $0.39 per common share. This dividend will be payable on September 24, 2021, to shareholders on record by September 10, 2021. This dividend reflects the company's commitment to returning value to its shareholders while maintaining a strong financial position.

FIS has partnered with OKCoin to enhance its global merchant acquiring and foreign exchange services, facilitating smoother card-to-crypto payments. This collaboration will support OKCoin's expansion into 190 countries, allowing users to convert fiat to cryptocurrencies like Bitcoin and Ethereum. With FIS processing over $2 trillion in transactions annually, the partnership promises efficient payment solutions, advanced reporting, and improved fraud monitoring. FIS aims to simplify cryptocurrency access and drive growth in the evolving digital currency market.