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4-Traders Homepage  >  Equities  >  Nyse  >  Fidelity National Information Servcs Inc    FIS

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FIDELITY NTL INFO : American Chartered Bank Selects FIS' IBS for Its Robust Core Solution

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03/24/2011 | 01:20pm CET

FIS? (NYSE: FIS), the world's largest provider of banking and payments technology, today announced that American Chartered Bank will deploy FIS' Integrated Banking Services (IBS) core processing solution. As part of this multi-year agreement, FIS will also deliver several supporting products including, Commercial eBanking, Business eBanking, Sales and Service as well as EFT solutions. The bank will utilize the NYCE® Payments Network for point-of-sale and ATM transactions.

American Chartered Bank, a $2.4 billion institution located in Schaumburg, Ill., sought a solution set that would enhance their ability to serve their customers and enable them to provide more innovative products and services. Through FIS, the bank will have a fully integrated platform with more robust functionality, allowing American Chartered Bank to compete effectively with the larger commercial banks in their target market.

FIS' IBS is a highly flexible and integrated core banking solution that provides financial institutions with innovative technology involving minimal disruption to their business operations and customers. IBS is the leading outsourced retail and commercial banking solution among mid-tier U.S. banks. FIS' EFT solutions are utilized by more than 3,000 financial institutions to manage their ATM/debit needs. In 2010 the number of EFT transactions processed through FIS' solutions topped 11 billion.

"We compete in a very challenging market," said Ron Hunt, chief operations officer, American Chartered Bank. "We knew that to continue competing for new customers, and to best serve our existing customers, we needed a core platform and new solutions that would allow us to decrease the time it takes to bring new products to market and operate more efficiently on a daily basis. We are confident that teaming with FIS will do just that."

"IBS is a proven and comprehensive solution that will provide American Chartered Bank with tools to streamline their processes, create operational efficiencies and ultimately to expand their reach in their target market," said Anthony Jabbour, executive vice president, FIS Financial Solutions Group. "The tight integration of IBS with supplemental solutions allows American Chartered to enhance their performance to the benefit of their customers."

About FIS

FIS (NYSE: FIS) is the world's largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 30,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. FIS is a member of Standard & Poor's 500® Index and consistently holds a leading ranking in the annual FinTech 100 list. For more information about FIS, visit www.fisglobal.com.

Forward-Looking Statements

This news release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions and other risks detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of the Company's Form 10-K and other filings with the Securities and Exchange Commission.

Marcia Danzeisen, 904.854.5083
Senior Vice President
FIS Global Marketing and Communications
marcia.danzeisen@fisglobal.com
or
Mary Waggoner, 904.854.3282
Senior Vice President
FIS Investor Relations
mary.waggoner@fisglobal.com


© Business Wire 2011
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Number of Analysts 23
Average target price 89,4 $
Spread / Average Target 12%
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Gary A. Norcross President, Chief Executive Officer & Director
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