Webster Bank Reduces Costs, Gains Operational Efficiencies and Delivers Powerful Servicing Tools through Expanded Outsourcing Relationship with FIS
- New multi-year outsourcing agreement will support Webster Bank’s strategy of reducing total IT operations costs while optimizing the bank’s infrastructure for achieving long-term growth.
JACKSONVILLE, Fla., January 29, 2013 – FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, announced that it has signed a new multi-year IT managed services agreement with Waterbury, Conn.-based Webster Bank to manage key aspects of the bank’s technology platform and operations. The new agreement supports Webster Bank’s strategy to reduce operational expenses and deliver advanced tools and services to its customers and is a proof point of the growing trend for institutions to entrust many IT functions to partners in order to focus on other strategic initiatives.
Under the terms of the agreement, FIS will provide the bank with a full spectrum of technology services for managing the bank’s IT operations including desktop and data base management, voice, network and server operations. By outsourcing these components, Webster Bank gains the benefits of optimizing its IT infrastructure, managing operational expenses and providing new and powerful service capabilities to its clients.
“More than ever, financial institutions are looking to their technology and service providers to deliver the infrastructure and operating efficiencies that allow them to better serve their customers and focus on the differentiating initiatives that help them better compete and grow their market share,” said Anthony Jabbour, EVP, FIS North American Financial Institutions. “Webster and FIS have a longstanding relationship, and our technologies and services closely align with Webster Bank’s goals of offering best-in-class services at optimal cost and risk.”
Webster Bank determined it could leverage FIS’ extensive technology expertise to manage many of the expenses and challenges associated with supporting IT infrastructure in-house. Moving this function to a trusted and experienced partner will enable the bank to more quickly deliver on the initiatives that support its intense focus on its customers. This move also supports the bank’s established goals for reducing IT and operational expenses, adopting an infrastructure built for long-term growth and enhancing service to customers through market-leading banking tools and services.
“As we grow, Webster needs reliable technology partners to provide robust infrastructure and services so we can focus on delivering on our customer promise, and FIS is the partner we can always rely on,” said Jerry Plush, president and chief operating officer of Webster Bank. “FIS aligned with our mission and quickly helped us understand what we needed to best serve our customers.”
With more than $20 billion in assets, Webster Bank provides business and consumer banking, mortgages, financial planning, trust and investment services through its 168 banking offices and mobile and online services.
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 425 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.
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