FIS Shows Strong Q1 Results

Technology provider Fidelity National Information Services (FIS) is extending its 2019 success into the current year, showing an increase in revenue for Q1 and introducing new offerings to its client base.

The Jacksonville, FL-based company, which provides technology solutions for merchants, banks, and capital markets firms around the world, revealed its first quarter results last month, showing a 50 percent revenue boost on a reported basis. That comes after a 23 percent boost in revenue for all of 2019, with much of the growth resulting from the company’s merger with eCommerce and payments company Worldpay.

FIS also announced the addition of Jeffrey A. Goldstein to its Board of Directors this week. A senior advisor to Canapi Ventures and advisor emeritus at Hellman & Friedman, Goldstein has extensive experience in mergers and acquisitions, as well as corporate finance and government and financial regulation. He was previously the CEO of SpringHarbor Financial Group from December 2016 through 2018, and was a Managing Director at Hellman & Friedman from 2004 to 2009, and again from 2011 to 2016. He previously served as Under Secretary of the Treasury for Domestic Finance and Counselor to the Secretary of the Treasury from 2009 to 2011.

“Jeffrey is a recognized industry leader with a highly distinguished career who will bring vast and deep expertise to the Board.” said Gary Norcross, Chairman, President, and Chief Executive Officer of FIS. “Jeffrey brings incredible M&A, finance and corporate strategy experience and will be a tremendous asset. FIS is extremely fortunate to have such a talented individual joining our Board.”

These latest announcements come weeks after FIS unveiled plans to invest $150 million over the next three years in early to growth-stage FinTech startups with a focus on emerging technologies, such as artificial intelligence and machine learning, digital enablement and automation, data and analytics, security and privacy, distributed ledger technology, and financial inclusion.

FIS also recently launched its FIS Unity platform, which leverages open application programming interfaces (APIs) to provide wealth managers an integrated, 360-degree view of a client’s financial assets across multiple financial providers. The platform utilizes advanced data analytics and fully integrated workflows to automate and streamline processes, boost efficiency, and lower costs.