FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, today announced that it continues to sign new clients for FIS’ core solution platforms including United Bankshares, which will deploy FIS’ Integrated Banking Services (IBS) core processing solution. Each of FIS’ recent new core agreements involves a conversion from a third-party solution.
As one of FIS’ newest core banking clients, United Bankshares selected IBS, a highly flexible and open core processing solution providing robust functionality, scalability and strong integration capabilities. United Bankshares will become an approximately $9 billion bank holding company upon completion of its latest acquisition and currently has 111 full-service offices in Virginia, West Virginia, Maryland, Ohio and Washington, D.C.
FIS offers an extensive array of core account processing solutions.Financial institutions of every size and type – credit unions, thrifts, commercial, retail and bankers’ banks – rely on FIS’ robust, comprehensive solutions for the management of their daily operations and multiple delivery channels. With clients in more than 25 countries around the world relying on FIS core solutions, FIS is a recognized leader in core account processing solutions.
FIS provides core solutions to meet the unique demands and attributes of each market segment ranging from community and mid-tier institutions to large and global commercial banks. Each solution provides a specific market segment with the resources to maximize growth, increase productivity and mitigate risk.
“United Bankshares has a customer base with a wide range of needs, from individuals with personal accounts to large corporations with complex accounts and needs,” said Rick Adams, president, United Bank, Inc. “We require a solution that has the flexibility to allow us to meet the needs of each of those customers. With FIS’ IBS platform we will have the branch automation and the customer-centric solution we need to better serve our customers and their needs.”
“We have seen the strong demand for our core account solutions continue in the first half of 2011,” said Anthony Jabbour, executive vice president, FIS Financial Solutions Group. “FIS is taking a leadership role to redefine the value of core processing through a combination of technology and service, enabling financial institutions to run their businesses more efficiently and profitably. We are excited to work with United Bankshares as they are an incredibly well-run bank, and we look forward to providing them with strategic solutions to meet and exceed their business needs.”
About United Bankshares
United Bankshares, with $7.2 billion in assets, has 111 full-service offices in West Virginia, Virginia, Maryland, Ohio, and Washington, D.C. United Bankshares stock is traded on the NASDAQ Global Select Market under the quotation symbol "UBSI."
FIS (fisglobal.com) is the world’s largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 32,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. FIS is ranked 426 on the Fortune 500, is a member of Standard & Poor’s 500® Index and consistently holds a leading ranking in the annual FinTech 100 list.
This news release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company’s Form 10-K and other filings with the Securities and Exchange Commission.
For More Information:
Mary Waggoner, SVP, FIS Investor Relations
P: 904.854.3282 / E: mary.waggoner[.]fisglobal.com.