Latest news with #FIS
Finextra
4 days ago
- Business
- Finextra
Global Payments to sell payroll unit for $1.1bn
Global Payments continues to simplify its business, agreeing to offload its payroll unit to fintech Acrisure for $1.1 billion. 0 The divestiture is the latest step Global Payments has taken to position itself as a pure play merchant solutions provider, shedding non-core businesses. In April it agreed a blockbuster deal to buy Worldpay from GTRC and FIS for $22.7 billion while offloading its Issuer Solutions business to FIS for $13.5 billion. Last year, it also sold its medical software business AdvancedMD for $1.13 billion. "I am pleased with the progress we are making with our transformation program as we move aggressively to simplify our business and enhance value for shareholders," says Cameron Bready, CEO, Global Payments. In connection with the payroll transaction, Global Payments has entered into a mutual referral agreement and long-term commercial partnership with Acrisure in which it will continue delivering human capital management and payroll offerings to its merchant customers. Proceeds of the deal - set to close the second half subject to regulatory approval - will be used to return capital to shareholders.
Finextra
5 days ago
- Business
- Finextra
FIS wins back office gig at MUFG Securities
FIS (NYSE: FIS), a global leader in financial technology, today announced it has been selected by MUFG Securities (Canada), Ltd. (MUSC) to power its back-office operations. 0 As a broker dealer providing services to institutional clients in Canadian capital markets, MUSC chose FIS' Post Trade Processing Platform to help streamline its back-office operations, mitigate risk, and ultimately help unlock business growth. 'Broker-dealers are under more pressure than ever when it comes to headwinds like increased regulatory scrutiny, technology costs, disruptive competitors and thinner margins,' said Nasser Khodri, chief commercial officer and president of Capital Markets at FIS. 'MUFG Securities (Canada), Ltd selecting our post-trade processing solutions is, however, indicative of how we are addressing these issues and improving the workflows that power the world's money at work. We are focused on our product suite's expansion into the Canadian market and look forward to other opportunities that will unlock efficiencies across the entire money lifecycle.' FIS Post Trade Processing Platform is a secure and real-time post trade processing platform. By arming broker-dealers with real-time execution on trade settlements, confirmations and accounting, the platform helps to not only drive business growth for broker-dealers but also fosters trust and transparency for the institutional investors they serve. With a flexible, cloud-native architecture, MUSC will also be able to scale the platform's capabilities as needed - showcasing FIS' commitment to unlocking financial technology that advances how the world pays, banks and invests.
FF News
5 days ago
- Business
- FF News
FIS to Enhance Back-Office Operations for MUFG Securities Canada
FIS® (NYSE: FIS), a global leader in financial technology, today announced it has been selected by MUFG Securities (Canada), Ltd. (MUSC) to power its back-office operations. As a broker dealer providing services to institutional clients in Canadian capital markets, MUSC chose FIS' Post Trade Processing Platform to help streamline its back-office operations, mitigate risk, and ultimately help unlock business growth. 'Broker-dealers are under more pressure than ever when it comes to headwinds like increased regulatory scrutiny, technology costs, disruptive competitors and thinner margins,' said Nasser Khodri, chief commercial officer and president of Capital Markets at FIS. 'MUFG Securities (Canada), Ltd selecting our post-trade processing solutions is, however, indicative of how we are addressing these issues and improving the workflows that power the world's money at work. We are focused on our product suite's expansion into the Canadian market and look forward to other opportunities that will unlock efficiencies across the entire money lifecycle.' FIS Post Trade Processing Platform is a secure and real-time post trade processing platform. By arming broker-dealers with real-time execution on trade settlements, confirmations and accounting, the platform helps to not only drive business growth for broker-dealers but also fosters trust and transparency for the institutional investors they serve. With a flexible, cloud-native architecture, MUSC will also be able to scale the platform's capabilities as needed – showcasing FIS' commitment to unlocking financial technology that advances how the world pays, banks and invests.
Business Wire
5 days ago
- Business
- Business Wire
FIS to Enhance Back-Office Operations for MUFG Securities Canada
JACKSONVILLE, Fla.--(BUSINESS WIRE)-- FIS ® (NYSE: FIS), a global leader in financial technology, today announced it has been selected by MUFG Securities (Canada), Ltd. (MUSC) to power its back-office operations. As a broker dealer providing services to institutional clients in Canadian capital markets, MUSC chose FIS' Post Trade Processing Platform to help streamline its back-office operations, mitigate risk, and ultimately help unlock business growth. 'Broker-dealers are under more pressure than ever when it comes to headwinds like increased regulatory scrutiny, technology costs, disruptive competitors and thinner margins,' said Nasser Khodri, chief commercial officer and president of Capital Markets at FIS. 'MUFG Securities (Canada), Ltd selecting our post-trade processing solutions is, however, indicative of how we are addressing these issues and improving the workflows that power the world's money at work. We are focused on our product suite's expansion into the Canadian market and look forward to other opportunities that will unlock efficiencies across the entire money lifecycle.' FIS Post Trade Processing Platform is a secure and real-time post trade processing platform. By arming broker-dealers with real-time execution on trade settlements, confirmations and accounting, the platform helps to not only drive business growth for broker-dealers but also fosters trust and transparency for the institutional investors they serve. With a flexible, cloud-native architecture, MUSC will also be able to scale the platform's capabilities as needed – showcasing FIS' commitment to unlocking financial technology that advances how the world pays, banks and invests. About FIS FIS is a financial technology company providing solutions to financial institutions, businesses, and developers. We unlock financial technology to the world across the money lifecycle underpinning the world's financial system. Our people are dedicated to advancing the way the world pays, banks and invests, by helping our clients to confidently run, grow, and protect their businesses. Our expertise comes from decades of experience helping financial institutions and businesses of all sizes adapt to meet the needs of their customers by harnessing where reliability meets innovation in financial technology. Headquartered in Jacksonville, Florida, FIS is a member of the Fortune 500® and the Standard & Poor's 500® Index. To learn more, visit Follow FIS on LinkedIn, Facebook and X.
Reuters
5 days ago
- Business
- Reuters
Global Payments to sell payroll business to Acrisure for $1.1 billion
May 28 (Reuters) - Global Payments (GPN.N), opens new tab said on Wednesday it would sell its payroll business to financial technology firm Acrisure for $1.1 billion, marking the payments company's latest attempt at simplifying its business model. The company intends to use the proceeds from the divestiture to return capital to shareholders. "This transaction further sharpens our strategic focus and allows us to amplify investment in the markets and solutions where we are most differentiated," CEO Cameron Bready said in a statement. As part of a three-way deal announced last month, Global Payments will sell its issuer solutions unit, which offers card processing and account services, to FIS (FIS.N), opens new tab for $13.5 billion.
