Latest news with #JimJohnson
Yahoo
21-05-2025
- Business
- Yahoo
Fidelity (FIS) Partners with Letskipp to Market Non-Sufficient Funds Authorization Solution
On May 21, Fidelity National Information Services, Inc. (NYSE:FIS) announced a strategic partnership with Letskipp Ltd. to introduce an innovative non-sufficient funds (NSF) authorization solution for its debit clients. A businessman at a smart POS terminal, demonstrating contactless payment methods. Fidelity National Information Services, Inc. (NYSE:FIS) is a leading international financial technology company providing a range of services for financial institutions, businesses, and developers. Letskipp Ltd. operates a platform facilitating collaboration between card issuers and merchants. Together, the two companies aim to solve the 'insufficient funds' issue, which is a leading cause of card declines at the point of sale. The partnership will introduce the first-ever non-sufficient funds (NFS) authorization, which will allow issuers to approve transactions even when the customer's available balance is insufficient, without charging overdraft fees to consumers. Merchants can choose to voluntarily pay a premium to authorize these NSF transactions. This not only removes friction from the payment process but also creates a new revenue stream for issuers. Jim Johnson, co-president, Banking Solutions, at Fidelity National Information Services, Inc. (NYSE:FIS) said: 'As money moves between merchants, companies, financial institutions and card issuers, every transfer should be timely and seamless. This partnership underscores FIS's commitment to helping our clients unlock new revenue streams and deliver smooth payment experiences.' While we acknowledge the potential of FIS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than FIS and that has 100x upside potential, check out our report about the . READ NEXT: and . Disclosure: None
Yahoo
21-05-2025
- Business
- Yahoo
Fidelity (FIS) Partners with Letskipp to Market Non-Sufficient Funds Authorization Solution
On May 21, Fidelity National Information Services, Inc. (NYSE:FIS) announced a strategic partnership with Letskipp Ltd. to introduce an innovative non-sufficient funds (NSF) authorization solution for its debit clients. A businessman at a smart POS terminal, demonstrating contactless payment methods. Fidelity National Information Services, Inc. (NYSE:FIS) is a leading international financial technology company providing a range of services for financial institutions, businesses, and developers. Letskipp Ltd. operates a platform facilitating collaboration between card issuers and merchants. Together, the two companies aim to solve the 'insufficient funds' issue, which is a leading cause of card declines at the point of sale. The partnership will introduce the first-ever non-sufficient funds (NFS) authorization, which will allow issuers to approve transactions even when the customer's available balance is insufficient, without charging overdraft fees to consumers. Merchants can choose to voluntarily pay a premium to authorize these NSF transactions. This not only removes friction from the payment process but also creates a new revenue stream for issuers. Jim Johnson, co-president, Banking Solutions, at Fidelity National Information Services, Inc. (NYSE:FIS) said: 'As money moves between merchants, companies, financial institutions and card issuers, every transfer should be timely and seamless. This partnership underscores FIS's commitment to helping our clients unlock new revenue streams and deliver smooth payment experiences.' While we acknowledge the potential of FIS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than FIS and that has 100x upside potential, check out our report about the . READ NEXT: and . Disclosure: None Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
21-05-2025
- Business
- Business Wire
FIS Partners With Issuer-Merchant Collaboration Platform Kipp To Prevent Card Declines and Unlock Revenue for Debit Issuers
JACKSONVILLE, Fla.--(BUSINESS WIRE)-- FIS ® (NYSE: FIS), a global leader in financial technology, today announced a strategic partnership with Letskipp Ltd. (Kipp), a collaboration platform for card issuers and merchants, to introduce an innovative non-sufficient funds (NSF) authorization solution to its debit clients. This first-to-market offer is designed to combat the long-standing challenge of declined transactions due to insufficient funds, which can help issuers recover lost revenue and drive top-of-wallet status with customers. With this solution, FIS is unlocking growth for its card issuing clients by helping to streamline financial operations, reduce friction and improve efficiency. Industry data shows that the leading cause of card declines is insufficient funds, causing revenue loss, customer frustration and higher contact center costs. For merchants, these declines result in lost sales and wasted product and time. For issuers, declined transactions bring unpredictability at the point of sale for customers, increasing consumer frustration and impacting loyalty. The solution offers issuers the ability to approve transactions even when the available balance is insufficient – without imposing overdraft fees on consumers – by enabling merchants to voluntarily pay a premium to authorize NSF transactions. This reimagined economic model can generate additional revenue for issuers while helping to preserve the customer experience at the point of sale. Through this partnership, issuers can quickly take advantage of this interconnected solution, helping money move dynamically through debit accounts, card networks and payment systems. 'As money moves between merchants, companies, and financial institutions and card issuers, every transfer should be timely and seamless. This partnership underscores FIS' commitment to helping our clients unlock new revenue streams and deliver smooth payment experiences,' said Jim Johnson, co-president, Banking Solutions, at FIS. 'Our NSF authorization solution with Kipp tackles a key point of friction in the payments journey, helping issuers retain customers and drive long-term value throughout the money lifecycle.' "We're excited to join forces with FIS to bring our innovative NSF solution to a broader market," said Chanan Lavi, CEO and co-founder of Kipp. 'By reducing declines, we're helping merchants and issuers to deepen customer relationships, protect transaction volume and grow revenue, without burdening consumers.' This solution reinforces FIS' accomplishments in helping deliver efficient, end-to-end experiences for businesses to bring the world's money into harmony. For more information about this solution, visit 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.
Business Wire
01-05-2025
- Business
- Business Wire
FIS Harmonizes Payments With Launch of Unified Money Movement Hub
JACKSONVILLE, Fla.--(BUSINESS WIRE)--Global financial technology leader FIS ® (NYSE: FIS) has announced the launch of its Money Movement Hub, an innovative payments solution that helps to simplify the back-end infrastructure of financial institutions by enabling them to connect to multiple payment networks and process payments in one place. Designed as a turnkey solution for a wide range of institutions – from super regional banks to community banks – the Money Movement Hub supports a modernized payments journey that can change with each client's needs. The flexible, cloud-native platform is core-agnostic and allows banks to start with the payment types they need today, then add new capabilities over time through a 'pay-as-you-grow' model. It delivers unified and secure money movement experiences that can be embedded across a variety of customer channels, helping institutions meet digital demands quickly and efficiently. While consumers' expectations for payment ease and efficiency have increased, many institutions are struggling to meet these demands using dated and disparate technology, leaving them exposed to settlement delays and security vulnerabilities. In fact, 57% of organizations that participated in the FIS Harmony Gap survey reported experiencing friction in payments processing, or when money is in motion, at least once a week. The FIS Money Movement Hub helps to harmonize the payments ecosystem within a financial institution by facilitating the integration of major payment networks within one solution, via a single API. As well as helping to reduce complexity for organizations, the solution can increase the accuracy of payments, improve liquidity, and help to quickly remediate security risks. This innovative payments hub responds to evolving consumer demands for faster and more efficient payments, as well as regulatory changes, and aims to transform financial institutions' money movement capabilities. Gareth Lodge, principal analyst at Celent commented, 'Payments are the one thing that unite every customer at every bank, and as their expectations continue to change, they expect more. While our Dimensions research found that 45% of U.S. banks have major payments modernization plans in the next 18 months, these banks need to ensure that they choose a solution that doesn't just meet the needs of today, but also tomorrow.' Jim Johnson, co-president, Banking Solutions at FIS, commented, 'This new solution is a testament to FIS' dedication to unlocking financial technology that efficiently moves money between the world's banks, consumers and businesses. Our new Money Movement Hub can help to reduce the complexity and costs associated with managing multiple payment channels, enabling funds to flow with speed, accuracy and security throughout the money lifecycle.' Features of the FIS Money Movement Hub Unified integration – The FIS Money Movement Hub is designed to integrate with major payment networks, including instant, ACH and wires. Cloud-native - The solution is hosted in FIS' dedicated Amazon Web Services Cloud environment, helping to increase scalability, cost-efficiency, reliability and security. Built-in fraud controls – Real-time in-line transaction and OFAC monitoring, fraud detection, and risk scoring are available within the FIS Money Movement Hub, helping to make payments processing more secure and efficient. Learn More Learn more about the FIS Money Movement Hub. 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.
Business Wire
22-04-2025
- Business
- Business Wire
AnswerRocket Acquires Cognitive Spark to Accelerate Agentic AI Transformation for Enterprises
ATLANTA--(BUSINESS WIRE)--AnswerRocket, a pioneer in enterprise AI solutions since 2013, today announced the acquisition of Cognitive Spark, a management consulting firm that specializes in developing advanced data science and machine learning algorithms for enterprises. Cognitive Spark's team immediately strengthens the company's ability to transform complex data science into accessible insights through agentic AI. "Our acquisition of Cognitive Spark directly tackles the 'last mile problem' of data science, where valuable data insights often fail to reach decision-makers," said Jim Johnson, Managing Partner of AI Solutions and Consulting at AnswerRocket. Share The integration of Cognitive Spark's capabilities with AnswerRocket's consulting practice and its agentic Max AI platform will enable clients to: Close the gap between strategic business initiatives and technical capabilities Transform data science from a specialized function to an enterprise-wide capability Solve complex business problems through custom machine learning algorithms and accurate data foundations Deploy AI agents that autonomously perform advanced statistical analysis Reduce time-to-insight from weeks to minutes for business decision-makers Maintain enterprise-grade governance and security for AI-powered analytics Making Advanced Analytics Accessible with Agentic AI Enterprises today invest millions in data science capabilities yet struggle to translate this investment into business impact. The disconnect between sophisticated analytical models and business decision-makers creates a costly gap where valuable insights remain trapped within specialized teams. AnswerRocket's expanded capabilities address this challenge through agentic AI solutions that solve critical business problems and deliver actionable insights. Cognitive Spark's expertise will enable AnswerRocket to create and deploy intelligent AI agents that automate complex data science routines for various use cases, such as pricing optimization, demand forecasting, and predictive customer analytics. Providing AI agents with data science tools makes advanced analytics accessible and actionable for business users, via AnswerRocket's Max AI or the customer's preferred agentic platform. Ensuring Data Readiness for Enterprise AI Adoption Critical to any successful AI implementation is the quality and accuracy of the underlying data. The combined expertise of AnswerRocket and Cognitive Spark addresses this foundational challenge through comprehensive data readiness services, including data engineering, data cleansing, and data harmonization. These capabilities ensure that AI solutions operate on reliable information, producing trustworthy insights that executives can confidently use for strategic decision-making. This end-to-end approach addresses the entire AI value chain, from data preparation and quality assurance to advanced analytics and business-ready insights. Strategic Expansion of AI Consulting Practice "Our acquisition of Cognitive Spark directly tackles the 'last mile problem' of data science, where valuable data insights often fail to reach decision-makers," said Jim Johnson, Managing Partner of AI Solutions and Consulting at AnswerRocket. "By joining agentic AI and data science, we can make advanced analytics broadly available to business users, enabling them to confidently make critical decisions on a daily basis." Cognitive Spark brings extensive experience in advanced analytics across multiple industries, including retail, financial services, healthcare, and construction. The Cognitive Spark team will be joining AnswerRocket, led by Andrew Sweet, current CEO of Cognitive Spark, who will serve as Vice President, Enterprise AI Solutions. "Joining AnswerRocket creates an unparalleled opportunity to scale the impact of advanced data science," said Sweet. "Organizations often struggle to bridge sophisticated analytics and practical business applications. By combining our expertise with AnswerRocket's agentic AI services, we're making advanced analytics truly accessible and driving real business impact." About AnswerRocket Founded in 2013, AnswerRocket is an enterprise AI solutions company that helps organizations achieve measurable results through AI transformation. The company provides end-to-end services including AI strategy and advisory, data architecture and engineering, custom AI solution development, operationalization and adoption support, and ongoing evolution of AI implementations. The company's proprietary frameworks and accelerators–including its agentic AI platform, Max AI–enable rapid development of enterprise-grade AI solutions that seamlessly integrate with existing infrastructure. For more information, visit About Cognitive Spark Cognitive Spark is a specialized data science firm focused on developing advanced machine learning algorithms and AI solutions for enterprise applications. Cognitive Spark's team of data scientists and AI specialists excels at creating custom predictive models and automated analytics solutions that deliver measurable business impact. The firm's distinctive management consulting practice bridges the critical gap between technical capabilities and strategic business objectives, helping C-suite executives transform data insights into actionable corporate strategies and operational improvements. For more information, visit
