This year’s ranking of the FinTech industry’s 100 leading players is led by FIS, confirming again its top position among competitors. Valentina Romeo takes a look at how the rankings have shifted of the past year
FIS, the Florida-headquartered banking and payments technology provider, has been heading FinTech 100 listing for three years in a row, officially overtaking Fiserv -this year at number 3- as the Wisconsin firm has been leading every annual FinTech 100 rankings since 2004.
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Karen Massey, senior analyst, banking practice at IDC Financial Insights, co-author of the report, said "Our industry is continually balancing financial performance, regulatory and economic pressures, innovation, and evolving customer requirements, and the FinTech 100 highlights those providers that are efficiently, effectively, and successfully meeting their institution client needs in this very difficult era."
"FIS has been among the top three for nine of the 10 years the FinTech 100 has existed, demonstrating leadership among this elite group of vendors by delivering effective, efficient, innovative solutions to the market," she also said.
Tata Consultancy Services confirmed its second position from 2011, climbing quickly since 2009 when it was ranked 6. Its annual revenue increased to $4,7bn, up from $4,2bn at the end of 2011.
FIS has seen "tremendous growth" in its mobile device capabilities across the board, says Gary Norcross, president and chief operating officer. The company has also had a lot of growth around its emerging payments capabilities. Reloadable prepaid cards have become mobile enabled and even de facto demand accounts, he added.
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By GlobalData"The financial industry never stands still. To stay at the top, FIS must continually innovate and find new ways to drive improvements that support our clients’ success," Frank Martire, FIS chairman and CEO said.
"While we’re proud to achieve this ranking, we’re even more proud of what it represents – that a large number of financial services institutions rely on FIS to deliver the depth and breadth of solutions that address their business challenges and strategic goals."
FIS revenue for 2012 slightly increased to $5.1bn, up 4% from $4.9bn in 2011.
In 2012, organic growth from the firm, excluding the impact of acquisitions and foreign currency, grew approximately 5% for the year, driven by expansion within the existing base and new client engagements, following equally positive results in 2011, FIS reported.
FIS recently signed its largest contract in Asia, with India-owned banks, to deploy ATMs to provide "financial inclusion" to the country’s poor over the next four years. The contracts should generate more than $100 million per year for FIS, Norcross said.
Each year, the FinTech 100 ranks vertical technology vendors that derive more than one-third of their revenue from the financial services industry.
