FIS Expands Risk, Fraud and Compliance Management Offerings
Acquisition of ICS Risk Advisors and Memento, Inc. reinforces FIS’ position as a leading provider of enterprise governance, risk and compliance solutions
JACKSONVILLE, Fla., April 23, 2012 − FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, today announced that it has acquired ICS Risk Advisors and Memento, Inc., two leading firms in the risk, fraud and compliance market. Terms of the deals were not announced.
The acquisition of these two firms underscores FIS’ strategy to deliver a full complement of governance, risk, compliance services and integrated fraud solutions that drive value throughout the enterprise for financial institutions.
ICS Risk Advisors, a full-service risk management firm, develops, implements, maintains and reviews enterprise risk management and regulatory compliance programs for hundreds of financial institutions, spanning from the world’s largest financial institutions to community banks. The company’s large staff of expert consultants is comprised primarily of former federal regulatory examiners who have deep industry knowledge in all risk management areas.
Memento, a leading provider in enterprise fraud management, delivers next-generation fraud solutions through its award-winning enterprise platform that helps protect financial institutions from wide-ranging, costly threats and enables key stakeholders to measure the true value of loss prevention investments. Trusted by some of the world’s largest and most influential financial institutions, regional banks and credit unions, Memento offers exceptional accuracy, rapid ROI and business value.
“We are extremely pleased with the added value ICS Risk Advisors and Memento will bring to FIS and our clients,” said Kay Nichols, executive vice president, FIS Channel Solutions. “We are constantly expanding our offerings in this space to help our customers keep ahead of increasing regulatory demands and threat of fraud. By integrating both companies’ offerings into our existing suite of solutions we are meeting the growing needs of our clients to manage these issues at both a point solution and an enterprise level. The acquisitions further enable us to position FIS as a single, trusted partner for all of a financial institution’s risk, fraud and compliance needs.”
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 32,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. First in financial technology, FIS tops the annual FinTech 100 list, is 426 on the Fortune 500 and is a member of Standard & Poor’s 500® Index. For more information about FIS, visit www.fisglobal.com.
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.
For More Information:
Kim Snider, VP, FIS Global Marketing and Communications
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Mary Waggoner, SVP, FIS Investor Relations
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