Fidelity National Information Services, Inc.
) recently declared that it will offer outsourced payments services
in collaboration with Vanquis Bank, a unit of the Provident
Financial Group. UK-based Vanquis Bank provides credit services to
its customers. Under the collaboration, Fidelity National will also
support Vanquis Bank's international endeavors.
The news comes on the heels of Vanquis Bank's launch of a pilot
project involving a credit card product in Poland. The bank
successfully rolled out its program aided by Fidelity National's
With the addition of yet another foreign institution, Fidelity
National further consolidated its international footprint. Its
dynamic solutions for the payment processing industry and
effortless deployment of the same have benefited a large number of
clients, thereby substantially strengthening its customer base.
Recently, the company also added financial institutions in its
portfolio of clients. The First Citizens Bank will use Fidelity
National's FIS' Default Manager solution in all of its retail
outlets to accelerate its collection processes. Fidelity National
also signed a "multi-year agreement" with Philippine National Bank
for providing an integrated retail payments platform supported by
FIS' CONNEX Electronic Funds Transfer switching solution.
We believe that by adding new clients to its list, Fidelity
National will diversify the reach of its products, which will
subsequently aid its top line. It will also help the company
achieve its organic revenue growth target of 3% to 5%.
The company's closest competitor,
Heartland Payment Systems, Inc.
) has been equally proactive in the same fields. Several
educational institutions hired the services of the company for
managing their financial aid disbursement and refund
Fidelity National carries a Zacks #4 Rank that translates into a
short-term Sell rating. Heartland Payment retains a Zacks #2 Rank
that translates into a short-term Buy rating.
FIDELITY NAT IN (FIS): Free Stock Analysis
HEARTLAND PAYMT (HPY): Free Stock Analysis
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