5 Top performing FinTech companies in the United States
By Pavithra R
FinTech is a portmanteau of the terms “finance” and “technology” and refers to any business that uses technology to enhance or automate financial services and processes. The growing involvement of big techs in FinTechs, the emergence of various disruptive technologies such as AI, blockchain and cryptocurrency, increasing focus on open data opportunities, regulatory clarity in jurisdictions has all contributed to the revamping of the FinTech ecosystem.
The article reveals the top performing 5 FinTech companies in the U.S. based on calendar year revenues from financial institutions for hardware, software, and/or services. The following data has been captured and analyzed from IDC.
FIS (formerly Systematics later acquired by ALLTEL Information Services) is a leader in technology and services that helps businesses and communities thrive by advancing commerce and the financial world. Headquartered in Jacksonville, Florida, FIS employs more than 55,000 people across 50+ countries, offers more than 450 solutions, processes over $75b of transactions around the planet and have 20000 satisfied clients. Gary Norcross is serving as the Chairman, President and Chief Executive Officer.
The firm in 2015 acquired SunGard, whose complementary offerings brought FIS into new markets for FinTech services, including asset managers, traders, custodians, treasurers, third-party administrators and clearing agents. In Q3 2019, FIS acquired Worldpay, a global leader in e-commerce and payments, expanding FIS’ capabilities by enhancing its acquiring and payment offerings and significantly increasing Worldpay’s distribution footprint.
It is a Fortune 500 company and is a member of Standard & Poor’s 500 Index. The FinTech supports real-time payments across the globe, processing instant transactions in 24 countries including the United States, India, China, Australia and the U.K.
Headquartered in Brookfield, WI, Fiserv is a leading global technology provider serving the financial services industry, driving innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. The FinTech aspires to move money and information in a way that moves the world. Jeffery W Yabuki is the executive Chairman, and Frank J. Bisignano is the President and Chief Executive Officer.
In 1984, First Data Processing and Sunshine State Systems merged to create Fiserv. The company in 1995 acquired Information Technology, putting the FinTech at the forefront of client/server solutions for banking. CheckFree Corporation joined Fiserv in 2007 bringing the electronic billing and payments innovator into the Fiserv family. The firm in 2011, acquired M-Com and CashEdge and in 2013 acquired Open Solutions.
Fiserv serves clients in more than 100 countries. The FinTech is a member of the S&P 500 Index and the FORTUNE 500 and is among FORTUNE World’s Most Admired Companies.
Cognizant Technology Solutions (1994)
Cognizant has made its debut in finance in 2010. The company is bringing together digital strategy, deep industry knowledge, human sciences, experience design and technology expertise to help companies design, build and scale digital business solutions. Brian Humphries is serving as the Chief Executive Officer.
Cognizant offers strategies and innovative solutions to address shifting investor demands, frameworks and solutions to address efficiency, regulatory ad operational issues across the front, middle and back-office for the entire securities value chain. Headquartered in the U.S., Cognizant is ranked 193 on the Fortune 500 and is consistently listed among the most admired companies in the world.
SS&C Technologies (1986)
Headquartered in Windsor, CT, SS&C is a global provider of investment and financial services and software for the financial services and healthcare industries. Its unique business model combines end-to-end expertise across financial services operations with software and solutions to service even the most demanding customers in the financial services and healthcare industries.
SS&C first went public in 1996 and was acquired by entities affiliated with The Carlyle Group and was taken private. In 2005. Since 1995, SS&C has acquired 50+ businesses with products, services and technologies in existing or complementary vertical markets. William C. Stone is serving as the Chairman of the Board and Chief Executive Officer. SS&C has more than 22,000+ employees worldwide, located in offices throughout North America, Europe, Asia, and Australia.
NCR Corporation (1884)
Headquartered in midtown Atlanta, Ga., NCR Corporation is a leading provider of banking and commerce solutions. The FinTech provides enterprise led software and services in the financial, retail, and hospitality industries. Frank R. Martire is the Executive Chairman, and Michael Hayford is the President and CEO.
National Manufacturing Company was established when a group of investors acquired Ritty’s cash register, company and patents. In 1991, AT&T and NCR signed a definitive merger agreement, in 1997, the firm acquired Compris Technologies, Inc. The firm in 2007, announced spinoff of Teradata, the company’s data-warehousing business; in 2009, it acquired NetKey to provide end-to-end kiosk and digital signage solutions. The firm in 2013, acquired Retalix, acquired Digital Insight Corporation and in 2014, JetPay in 2018.
NCR is a trademark of NCR Corporation in the U.S. and other countries. According to company data, its digital banking solution is being used by more than 600 Financial institutions. The FinTech has over 34,000 employees in 160 countries and solutions distributed in 141 countries.
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