Fidelity National Information Services (FIS) Goldman Sachs Communacopia + Technology Conference 2024 summary

Strategic framework and market opportunity

• Adopted a three-part strategy: money at rest (core banking), money in motion (payments/treasury), and money at work (capital markets), targeting a $100B TAM with $10B current revenue.

• Serves 15,000 global clients, focusing on large institutions and leveraging global scale, distribution, and marquee products.

Banking segment growth and operational improvements

• Recurring revenue growth in banking is accelerating, with guidance moving from 2% last year to 3.5%-4.5% going forward.

• Digital and payments segments are key growth drivers, with digital growing at 10% and payments at high single digits.

• 83% of banking sales are recurring, with a focus on high-margin, faster-implementing deals and improved customer experience.

• Implementation times have shortened due to a shift from large, complex deals to more targeted, high-margin sales.

Payments, cross-sell, and market focus

• Payments represent 50% of banking revenue, with significant cross-sell opportunities in debit and network services.

• Only 70% of core clients use debit, and 60% of debit cards use the network, indicating room for growth.

• Targeted approach to community and regional banks, focusing on best-fit products rather than broad market coverage.