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Fidelity National Information Services (FIS) drives global financial infrastructure through payment systems, banking technology, and enterprise solutions. This dedicated news hub provides investors and professionals with essential updates shaping the fintech landscape.
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Key coverage areas include digital banking advancements, transaction security enhancements, and global expansion initiatives. Stay informed about developments impacting financial institutions, merchants, and investment firms through primary source materials.
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FIS (NYSE:FIS) reported its fourth quarter 2020 results, revealing a consolidated revenue decrease of 1% to $3,316 million, primarily due to COVID-19-related consumer spending trends. Net earnings for the quarter were $103 million, translating to $0.16 per diluted share. Positive adjustments included a 60 basis point increase in adjusted EBITDA margin to 45.2%, attributed to cost synergies from the Worldpay acquisition. For full-year 2020, revenue increased 21% to $12,552 million, largely from the Worldpay acquisition. However, net earnings were down to $158 million, with organic revenue decreasing by 1%.
FIS has announced an authorization for the repurchase of up to 100 million shares of its Class A common stock and an 11% increase in its quarterly dividend from $0.35 to $0.39 per share. The company's leadership believes shares are undervalued and sees share repurchase as a beneficial use of capital. The repurchase program lacks a time limit and can be paused or amended. The next dividend payout is set for March 26, 2021, to shareholders of record as of March 12, 2021.
FIS (NYSE: FIS) reported strong processing activity in the latest funding phase of the SBA's Paycheck Protection Program. In just two weeks, FIS processed nearly $8 billion in loan applications for over 63,000 businesses. This funding is part of the additional $284 billion allocated under the CARES Act. FIS has streamlined the loan application process with a self-service portal, with around 80% of applications submitted through it. The initiative underlines FIS’s commitment to support small businesses amid ongoing challenges.
FIS (NYSE: FIS) will announce its fourth quarter 2021 financial results on February 9, 2021, before market opening. The company will conduct a live webcast of the earnings conference call starting at 8:30 a.m. EST that day. Interested parties can access the webcast via the Investor Relations section of FIS' website. FIS, headquartered in Jacksonville, Florida, is a leading global provider of technology solutions for financial services, aiming to enhance payment, banking, and investment processes through innovative technology.
FIS has partnered with Quontic Bank to launch the first FDIC insured Bitcoin Rewards Checking account in the U.S. Customers will earn 1.5% Bitcoin back on eligible debit purchases. Leveraging FIS Digital One, the new mobile app will allow users to manage accounts and track rewards efficiently. This initiative marks Quontic's innovative approach in banking, focusing on mobile-first solutions. According to Quontic's CEO, this account allows customers to build wealth simply by using their debit card. FIS aims to inspire other banks to adopt similar solutions in the future.
Quontic, an adaptive digital bank, has launched the first-ever FDIC-insured Bitcoin Rewards Checking account in the U.S. Customers can earn 1.5% in Bitcoin on eligible debit card purchases. The program includes a debit card, mobile app, and access to over 90,000 surcharge-free ATMs, all with no monthly service fee. Quontic has partnered with NYDIG for secure Bitcoin management and FIS to enhance the digital experience. Initial access is limited to select states, with wider availability expected in the future.
FIS has launched a new token management service, enhancing online security for merchants utilizing Visa's Token Service. This initiative aims to reduce the risk of data theft and improve customer retention by facilitating seamless transactions. Additionally, Click to Pay with Visa will streamline the checkout process for online shoppers, minimizing cart abandonment. The service is accessible globally via a single integration, promoting compliance with PCI requirements and offering a unified approach to token management.
FIS, a global leader in financial services technology, announced its participation in several upcoming conferences in December 2020. The company will present on December 1 at the Credit Suisse 24th Annual Technology Conference, on December 2 at the Wells Fargo TMT Summit, and on December 9 at the Barclays Global Technology Conference. Live audio webcasts and replays will be available on the Investor Relations page of FIS's website. FIS is dedicated to advancing payment, banking, and investment technologies for various clients worldwide.
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