JACKSONVILLE, Fla., June 27, 2017 – New research released today by financial technology leader FIS™ (NYSE: FIS) revealed that only 25% of buy-side and sell-side executives surveyed believe their firms have the technology capability to support their growth ambitions.
The FIS report also found that firms with the strongest performance in key operational growth areas, such as automation, data management and innovation, are significantly more likely to have grown their assets under management over the past year.
The findings are part of the first FIS Readiness Report, “The Hunt for Growth,” which surveyed 1,000 C-suite and senior executives across the buy-side and sell-side of the financial services market. Other key findings of the report were:
“The results are compelling because, despite all of the headlines around fintech disruption and the need to automate, many financial institutions acknowledge that they are still not where they ought to be when it comes to embracing technology and operations,” said Martin Boyd, executive director and head of I&W Strategy at FIS. “Those firms who are investing for the future by taking a lead in automation, data and emerging technology are outperforming their peers in revenue growth, pointing to a ‘tech readiness dividend’ for forward looking buy-side and sell-side firms.”
The FIS report includes a Growth-Readiness Tracker that scored firms against six equally weighted operational enablers of growth: automation, data management, innovation, use of emerging technologies, talent management and focus on client experience.
The report found that firms that scored at the top 20% of the Growth-Readiness Tracker are significantly outpacing their competitors in driving growth. Among these Growth-Readiness Leaders, the FIS research found:
“What is clear from this research,” Boyd added, “is that those firms that can marry enabling technologies – such as machine learning, artificial intelligence, blockchain and mobile – with new business models are reaping dividends in terms of competitive advantage.”
To read the full report, visit www.FISReadinessReport.com.
About the FIS Growth Readiness Report
The survey was conducted between March and May 2017, in collaboration with Longitude Research, of 1,000 senior-level respondents across the buy- and sell-side of the institutional and wholesale financial services market and insurance companies. Sectors surveyed include: Commercial and investment banks, 25%; Broker-dealers, 15%; Asset managers, 23%; Fund administrators, 14%; Insurance companies, 16%; Pension funds, 6%. Regions surveyed: Europe, 30%; North America, 30%; APAC, 25%; LATAMEA, 16%. Seniority: C-suite, 26%; Head of business unit / Director-level, 74%. Function: Trading and investment, 18%; Risk and compliance, 18%; Operations, 18%; IT, 15%; Finance and treasury, 20%; Sales, 7%; Other, 4%.
FIS is a global leader in financial services technology, with a focus on retail and institutional banking, payments, asset and wealth management, risk and compliance, consulting, and outsourcing solutions. Through the depth and breadth of our solutions portfolio, global capabilities and domain expertise, FIS serves more than 20,000 clients in over 130 countries. Headquartered in Jacksonville, Fla., FIS employs more than 57,000 people worldwide and holds leadership positions in payment processing, financial software and banking solutions. Providing software, services and outsourcing of the technology that empowers the financial world, FIS is a Fortune 500 company and is a member of Standard & Poor’s 500® Index. For more information about FIS, visit www.fisglobal.com.
For More Information
Kim Snider, 904.438.6278
Senior Vice President
FIS Global Marketing and Communications
JACKSONVILLE, Fla. —(BUSINESS WIRE)— June 26, 2017— Fidelity National Information Services, FIS™, (NYSE:FIS), a global leader in financial services technology, today announced that it has commenced tender offers (each individually, with respect to a series of Notes, a “Tender Offer” with respect to such series, and collectively, the “Tender Offers”) to purchase for cash up to $2,000,000,000 aggregate principal amount (the “Maximum Tender Offer Amount”) of its securities listed in the table below (collectively, the “Notes”).
Each Tender Offer is open to all registered holders of such series of Notes (individually, a “Holder” and collectively, the “Holders”). Subject to the Maximum Tender Offer Amount and the Tender Caps (as defined below), the amount of a series of Notes that is purchased in the Tender Offers on the Settlement Date (as defined below) will be based on the acceptance priority level for such series (in numerical priority order, with 1 being the highest) (the “Acceptance Priority Level”) set forth in the table below and on the cover page of the Offer to Purchase, dated June 26, 2017 (the “Offer to Purchase”), subject to the proration arrangements applicable to the Tender Offers.
(1) The Tender Cap for each series represents the maximum aggregate principal amount of the applicable series of Notes that will be accepted for purchase. There will be no limit on the aggregate principal amount of the Notes with priority level 6 that may be purchased in the Tender Offers.
(2) Per $1,000 principal amount of the applicable series of Notes tendered at or prior to the applicable Early Tender Deadline and accepted for purchase.
(3) The hypothetical Total Consideration (per $1,000 principal amount) for Notes validly tendered at or prior to the applicable Early Tender Deadline and not validly withdrawn at or prior to the applicable Withdrawal Deadline and accepted for purchase is calculated using the applicable fixed spread and is inclusive of the Early Tender Payment but exclusive of Accrued Interest (as defined below) and is based on the reference yield of the Reference U.S. Treasury Security as of 11:00 a.m., New York City time, on June 23, 2017. The actual reference yields of the Reference U.S. Treasury Securities will be determined by the Dealer Managers at 11:00 a.m., New York City time, on the price determination date, which is expected to be July 10, 2017.
The Tender Offers are being made upon, and are subject to, the terms and conditions set forth in the Offer to Purchase. The Tender Offers will expire at 11:59 p.m., New York City time, on July 24, 2017, unless extended (the “Expiration Time”), or earlier terminated by FIS. Tenders of Notes may be withdrawn at any time at or prior to 5:00 p.m., New York City time, on July 10, 2017, but may not be withdrawn thereafter except in certain limited circumstances where additional withdrawal rights are required by law. The settlement date for Notes that are validly tendered at or prior to the Expiration Time is expected to be July 25, 2017, the first business day after the Expiration Time (the “Settlement Date”).
The consideration paid in the Tender Offers for Notes that are validly tendered and accepted for purchase will consist of a cash payment determined in the manner described in the Offer to Purchase and intended to result in a yield to maturity date or par call date (as applicable) for the applicable series of Notes equal to the sum of the yield to maturity of the applicable reference U.S. Treasury security specified in the table above plus the applicable fixed spread specified in the table above (the “Total Consideration”). Holders of Notes that are validly tendered and not validly withdrawn at or prior to 5:00 p.m., New York City Time, on July 10, 2017 (the “Early Tender Deadline”) and accepted for purchase will receive the applicable Total Consideration, which includes an early tender premium of $30 per $1,000 principal amount of the Notes accepted for purchase (the “Early Tender Payment”). Holders of Notes who validly tender their Notes following the Early Tender Deadline but at or prior to the Expiration Time that are accepted for purchase will only receive the applicable “Tender Offer Consideration,” which is the Total Consideration minus the Early Tender Payment, per $1,000 principal amount of any such Notes. The Total Consideration and the Tender Offer Consideration will be determined at 11:00 a.m., New York City time, July 10, 2017 unless extended by FIS (the “Pricing Date”). The hypothetical Total Consideration should be used solely for the purpose of obtaining an understanding of the calculation of the Total Consideration, as quoted at hypothetical rates and times, and should not be used or relied upon for any other purpose.
In addition to the applicable Total Consideration or Tender Offer Consideration, payment for Notes purchased will include accrued and unpaid interest, rounded to the nearest cent (“Accrued Interest”) from the last interest payment date applicable to the relevant series of Notes up to, but not including, the Settlement Date.
Subject to the applicable tender caps specified in the table above (the “Tender Caps”) and the Maximum Tender Offer Amount, all validly tendered Notes having a higher Acceptance Priority Level will be accepted (subject to the terms and conditions of the Tender Offers) before any validly tendered Notes having a lower Acceptance Priority Level.
Our obligation to accept for payment and to pay for the Notes validly tendered in the Tender Offers is subject to the satisfaction or waiver of a number of conditions described in the Offer to Purchase, including a financing condition. FIS reserves the right, subject to applicable law, to: (i) terminate the Tender Offers and return the tendered Notes; (ii) waive all unsatisfied conditions and accept for payment and purchase the Notes that have been validly tendered; (iii) extend the Tender Offers and continue to hold Notes that have been validly tendered during the period for which the Tender Offers are extended; (iv) increase or decrease the Maximum Tender Offer Amount or any of the Tender Caps, in each case, without extending or reinstating withdrawal rights; or (v) amend the Tender Offers. The Tender Offers are not conditioned on any minimum amount of Notes being validly tendered.
FIS has retained Barclays Capital Inc., J.P. Morgan Securities LLC and BofA Merrill Lynch as Dealer Managers. D.F. King & Co, Inc. is the Tender and Information Agent. For additional information regarding the terms of the Tender Offers, please contact: Barclays Capital Inc. at (800) 438-3242 (toll free) or (212) 528-7581 (collect), J.P. Morgan Securities LLC at (866) 834-4666 (toll free) or (212) 834-3424 (collect) or BofA Merrill Lynch at (888) 292-0070 (toll free) or (980) 387-3907 (collect). Requests for documents and questions regarding the tendering of securities may be directed to D.F. King & Co., Inc. by telephone at (212) 269-5550 (for banks and brokers only) or (800) 791-3320 (for all others toll-free), by email at firstname.lastname@example.org or to the Dealer Managers at their respective telephone numbers.
This press release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. The Tender Offers are being made only pursuant to the Offer to Purchase and only in such jurisdictions as is permitted under applicable law.
FIS is a global leader in financial services technology, with a focus on retail and institutional banking, payments, asset and wealth management, risk and compliance, consulting, and outsourcing solutions. Through the depth and breadth of our solutions portfolio, global capabilities and domain expertise, FIS serves more than 20,000 clients in over 130 countries. Headquartered in Jacksonville, Fla., FIS employs more than 57,000 people worldwide and holds leadership positions in payment processing, financial software and banking solutions. Providing software, services and outsourcing of the technology that empowers the financial world, FIS is a Fortune 500 company and is a member of Standard & Poor’s 500® Index.
This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, forecasts and assumptions that involve risks and uncertainties and on information available us as of the date hereof. FIS’ actual results could differ materially from those stated or implied, due to risks and uncertainties associated with its business, which include, but are not limited to, the risks related to the acceptance of any tendered Notes, the expiration and settlement of the Tender Offers, the satisfaction of conditions to the Tender Offers, whether the Tender Offers will be consummated in accordance with the terms set forth in the Offer to Purchase or at all and the timing of any of the foregoing, and other risks detailed in our filings with the Securities and Exchange Commission (SEC), including the “Risk Factors” section of our Annual Report on Form 10-K for the year ended December 31, 2016, and subsequent SEC filings. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. FIS undertakes no obligation to publicly update or revise any forward-looking statements.
Source: Fidelity National Information Services
Fidelity National Information Services
Kim Snider, 904.438.6278
Senior Vice President
FIS Global Marketing and Communications
Peter Gunnlaugsson, 904.438.6603
Senior Vice President
FIS Investor Relations
The Ritz Carlton
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FIS Connect regional events are structured to bring the strength of FIS to you. These programs are a perfect blend of education and networking opportunities in an ideal forum to mingle with your business peers and the FIS team.
The theme is “Imagining Possibilities.” Discover how to keep a strong foothold in traditional processes, methodologies and delivery channels while simultaneously pushing the boundaries of what is comfortable, what is normal and what has always been done.
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Going to Money 2020 Europe? We will see you there – at Europe’s largest FinTech event!
We invite you to meet the FIS team at Money 2020 to learn more about our Open Access solution for PSD2, which offers banks a future-proof API-based banking environment. We will also showcase our test solutions to help you confirm the quality of your payment innovations and optimize your investments in immediate payments.
Learn more about Money2020 at www.money2020europe.com.
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