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FIS™, one of the world’s largest providers of banking and payments technology, announced on 16 June that it was recognized in the global cards and payments industries by Cards International, who awarded it “Best Merger or Acquisition Deal.”
The Cards International Global Awards 2010 recognise leaders and innovators in the global cards and payments industry across ten categories covering a range of areas, including awards for best new credit, debit and prepaid card product launches, best innovation in a loyalty program and best commercial card issuer.
Will Cain, group editor of Cards International, commented, “The acquisition of Metavante by FIS created a new global powerhouse in banking outsourcing, processing and platforms at a time when the hunt for economies of scale in the processing sector was taking on a new air of urgency. In 2008, both companies generated pro forma combined revenues of approximately $5.2 billion.”
FIS serves over 14,000 financial services clients on a world-wide basis and has a strong international presence. Many of Europe’s major banks use the company’s wide range of products and services including CONNEX and IST/Switch for switching, BASE2000 for credit issuing and the Transax merchant network. Metavante added to this international portfolio with clients from its Nomad business for prepaid and debit. This makes FIS a formidable force in the cards business.
A panel of judges selected the winners from among those organizations nominated by readers and included the editorial team from Cards International, VRL Financial News and an external panel of recognised international industry consultants.
“FIS is proud to be recognized with this award that exemplifies the strength of our reputation and market presence across the globe,” said Mark Davey, executive vice president, FIS International business. “This award is a testament to the strong relationships we have developed with our clients and the hard work and dedication of our team at FIS.”
Winners were announced at an awards ceremony and dinner held in Madrid, Spain on 18 May 2010 as part of the Cards & Payments Europe Conference and Expo. The awards were determined on a global basis with specific criteria for each individual group.
The Cards International Global Awards ceremony forms part of the Cards and Payments Europe Conference and Expo, a two-day event focusing on recent and future developments in the cards and payments industry. The event is organised by VRL, publisher of Cards International.