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FIS Investments in Cloud Lead to Groundbreaking New Service Level Agreement
May 28, 2019
- New groundbreaking service level agreement covers select cloud-based solutions used by FIS clients in North America.
- Clients of these solutions will receive a financial credit for service outages caused by FIS lasting longer than 15 minutes.
- FIS has invested significantly in cloud-enabling its global network, with nearly 80 percent of its applications expected to be running in the FIS cloud by 2021.
JACKSONVILLE, Fla., May 28, 2019 – FIS™ (NYSE: FIS), a global leader in financial services technology, is backing its dedication to world-class service levels with a commitment to issue financial credits to clients using select FIS applications should they experience service disruptions caused by FIS lasting longer than fifteen minutes. This does not include scheduled downtime or pre-planned maintenance.
The new service level agreement (SLA) is groundbreaking for the industry and currently covers select cloud-based business solutions used by FIS clients in the North America region.
At a time when organizations need and expect constant up time for critical applications, this new SLA demonstrates FIS’ confidence in the reliability and performance of its global network. In recent years, the company has invested significantly in consolidating and cloud-enabling its global data centers while shifting more than half of its North American application workload to a secure cloud environment.
These investments have enhanced network performance, resiliency and availability. Specifically, FIS has seen a more than 80 percent drop in infrastructure issues, a 20 to 30 percent improvement in online response times, and a 20 to 50 percent improvement in batch processing times from these select cloud-based applications. FIS has also achieved a disaster recovery failover time of between five and 15 minutes.
“Today, more than ever, financial institutions and their customers need their critical systems and applications to be constantly available,” said Bruce Lowthers, chief operating officer of Integrated Financial Services at FIS. “This new agreement is a bold statement to our clients that FIS stands behind our ability to deliver nearly constant up time for the applications and services they need to run their businesses and connect with their customers.”
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, 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 47,000 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.
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