Seeking Alpha Plugs FIS
Seeking Alpha, a noted investment advisory website, has touted FIS as a good investment opportunity. The majority of U.S. credit unions use the Jacksonville, Fla.-based FIS for card and payments processing.
In a July 6 article entitled “Fidelity National Information Systems is Getting Interesting,” Seeking Alpha observed the company has steadily improved its operations, gained expertise and improved customer interactions with its core mid-sized bank and credit union clients. The site also noted that its suites of products and services, while not terribly exciting, are nonetheless vital to the financial services world of the future.
“This group of services may sound dull, but the reality is that without them, it is very hard to run a modern bank,” the article wrote. “Customers in the U.S. and increasingly internationally, expect to be able to use ATMs, online banking and credit and debit cards. Yet most banks lack the expertise to run this diverse portfolio of products themselves and that is where FIS can help. While major banks can do many of these things on their own (and indeed some do, which makes internal technology departments a serious competitor for FIS in some cases), most mid-sized financial institutions lack the budget or expertise to realistically offer a comprehensive suite of services,” the article said.
FIS has not yet commented on the article.