Fidelity National Information Services, Inc. (NYSE: FIS), also known as FNIS or FIS, is a publicly traded corporation that provides core processing for financial institutions, card issuer and transaction processing, mortgage processing services, and related information products and outsourcing.
History
Fidelity National Information Services was formed on February 1, 2006 when Certegy Inc. merged with Fidelity Information Services, a subsidiary of Fidelity National Financial. Following the merger, Fidelity National Financial controlled 50.8% of the outstanding common stock of the new FIS.[1]
In 2007 FIS acquired eFunds Corporation (EFD), adding switching and transaction management to the stable of financial products.
The result is that FIS is a leading provider of core financial institution processing, card issuer and transaction processing services, mortgage loan processing and related information products and outsourcing services to financial institutions, retailers, mortgage lenders and real estate professionals. FIS has processing and technology relationships with 31 of the top 50 global banks, including nine of the top 10.[citation needed]
On July 3, 2007, Certegy Check Services, part of FNIS, announced that a worker at one of its subsidiaries stole 2.3 million consumer records containing credit card, bank account and other personal information. This estimate was later increased to 8.5 million consumer records. The next month, a law firm filed for a class-action lawsuit against CCS and parent company FNIS based on the privacy breach; the firm claims that, since CCS provides check-verification services to many major U.S. stores, "consumers do not choose to use the services of these companies but rather are forced to do so".[2]
On September 25, 2007, Fidelity National Information Services notified its employees that a laptop containing their personal information including Name, Address, Social Security Numbers, and salary information was stolen from an employee. The laptop was not protected with any encryption mechanism only passwords. They have yet to release how many employees have been affected.[citation needed]
Fidelity Information Services - Australasia
FIS Australasia processes credit cards, debit cards and/or switching services for the top seven banks in Australia as well as the largest card issuer in Thailand and two of the major New Zealand based banks.
FIS Australasia has a head office in Melbourne, Australia and satellite offices in Sydney, Bangkok, Thailand and Wellington, New Zealand.
Acquisitions
After the merger with Certegy Inc., FIS completed the following acquisitions:
- Second Foundation, Inc. (SECF)
- Marketing Solutions, Inc.
- Lenovo-Asia Info Technologies, Inc., Financial Service division
- Applied Financial Technology, Inc.
- eFunds Corporation (EFD)
- Metavante_Corporation (April 2009)
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