Fidelity Information Services' Integrated Financial Solutions Unit Sees Continued New Client Growth in First Half of 2005
July 13 2005 - 8:30AM
PR Newswire (US)
Fidelity Information Services' Integrated Financial Solutions Unit
Sees Continued New Client Growth in First Half of 2005 45 Financial
Institutions Join the Fidelity Family of Core and Item Processing
Clients JACKSONVILLE, Fla., July 13 /PRNewswire-FirstCall/ --
Fidelity National Financial, Inc. (NYSE:FNF), a Fortune 500
provider of products and outsourced services and solutions to
financial institutions and the real estate industry, and its
Fidelity Information Services ("Fidelity") division announced today
that 45 new financial institutions have signed long-term
relationship agreements with Fidelity's Integrated Financial
Solutions division during the first six months of 2005 --
continuing an accelerated new business growth trend for the
business unit. "Fidelity's market share continues to grow rapidly
because financial institution leaders are recognizing the power of
our integration strategy and are excited about the value this
strategy will bring to their business and, ultimately, to their
customers," said Jim Susoreny, executive vice president for
Fidelity's Integrated Financial Solutions division. "Our unwavering
focus on specific markets -- and our dedication to delivering the
suite of integrated technology solutions appropriate to those
markets -- has enabled us to clearly and consistently demonstrate
our value to financial institutions looking to increase
efficiencies, enhance revenue opportunities and improve service
delivery." Among Fidelity's new core and/or item processing
relationships established during the first half of 2005 are Bay
Bank (FL), CIB Marine Bancshares (IL), Coast National Bank (CA),
First Madison Bank & Trust (GA), First State Bank (NJ), First
Vietnamese American Bank (CA), Fremont National Bank of Canon City
(CO), Mid-Country Bank (MN) and Peach State Bank & Trust (GA).
Twelve de novo institutions have also begun long-term relationships
with Fidelity including American Southern Bank (GA), Florida Bank
of Commerce (FL), Monument Bank (MD), State Bank & Trust
Company (GA), and WestBridge Bank & Trust (MO). In addition,
Fidelity captured several new credit union clients during the first
half of the year including two billion-dollar-plus institutions
with Virginia Credit Union (VA) and Wings Financial Federal Credit
Union (MN) as well as several mid-tier credit unions including
Horizon Community Credit Union (WI) and Ryder Systems Federal
Credit Union (FL). "I truly believe that what puts us over the top
in many competitive situations is our ability to look at an
institution's needs and offer the right solution to meet those
specific needs," added Jeff Berns, senior vice president of sales
for Fidelity's Integrated Financial Solutions division. "We
recognize that clients have different technology needs based on
their size, market and business strategies, and the clear fact that
we're organized to put our clients' best interests at the forefront
-- while avoiding the creation of competition among our internal
offerings -- has become a key differentiator for Fidelity in its
markets." About Fidelity National Financial Fidelity National
Financial, Inc., number 261 on the Fortune 500, is a provider of
products and outsourced services and solutions to financial
institutions and the real estate industry. FNF is the nation's
largest title insurance company, with nearly 31 percent national
market share, and is also a provider of other specialty insurance
products, including flood insurance, homeowners insurance and home
warranty insurance. Through its majority-owned subsidiary Fidelity
National Information Services, Inc. ("FIS"), the Company is a
leading provider of technology solutions, processing services and
information services to the financial services and real estate
industries. FIS' software processes nearly 50 percent of all U.S.
residential mortgages, it has processing and technology
relationships with 45 of the top 50 U.S. banks and more than 2,800
small and mid-sized U.S. financial institutions and it has clients
in more than 50 countries who rely on its processing and
outsourcing products and services. FIS also provides customized
business process outsourcing related to aspects of the origination
and management of mortgage loans to national lenders and servicers.
FIS offers information services, including property data and real
estate-related services that are used by lenders, mortgage
investors and real estate professionals to complete residential
real estate transactions throughout the U.S. More information about
the FNF family of companies can be found at http://www.fnf.com/ and
http://www.fidelityinfoservices.com/ . This press release contains
statements related to future events and expectations and, as such,
constitutes forward-looking statements. These forward-looking
statements are subject to known and unknown risks, uncertainties
and other factors that may cause actual results, performance or
achievements of the Company to be different from those expressed or
implied above. The Company expressly disclaims any duty to update
or revise forward- looking statements. The risks and uncertainties
which forward-looking statements are subject to include, but are
not limited to, the effect of governmental regulations, the
economy, competition and other risks detailed from time to time in
the "Management's Discussion and Analysis" section of the Company's
Form 10-K and other reports and filings with the Securities and
Exchange Commission. DATASOURCE: Fidelity National Financial, Inc.
CONTACT: Daniel Kennedy Murphy, Senior Vice President, Finance and
Investor Relations, Fidelity National Financial, +1-904-854-8120,
or ; or Dennis Holland, Vice President, Marketing, Fidelity
Integrated Financial Solutions, +1-972-943-2685, or Web site:
http://www.fnf.com/ http://www.fidelityinfoservices.com/
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