Fidelity National Information Services (FIS)
Technology
FIS's three-point turnaround plan begins with selling off Worldpay. As distinct payment processors with different customer bases and needs, their separation aims to reduce operational conflicts. The "Future Forward" initiative is set to cut costs by nearly 10% by 2024's end. Additionally, FIS is strengthening its balance sheet, having paid off billions in debt post-announcement and focusing on reducing debt to pre-merger levels. These strategic moves are designed to reinforce FIS's core competency in serving banks, with potential for significant upside if capital management improves and returns remain steady.
Edition: 174
- 24 November, 2023