(17 February 2025 – United States) Fidelity National Information Services (FIS) has completed two acquisitions as it seeks to rapidly expand its digital services and supply chain finance (SCF) offering to banks and CFOs.
FIS plans to become a leader in supply chain finance following the estimated US$300 million acquisition of Demica, a multi-funder platform for payables and receivables finance, with a focus on corporates with large, complex receivables portfolios, and digital corporate banking services firm Dragonfly Financial Technologies.
The additional services expand on the payments technology and other services Florida-based FIS provides to banking and capital markets clients. The division catering to bank clients is about twice the size of the division focused on capital markets clients, based on revenue.
“FIS has made five acquisitions, including Demica and Dragonfly, over the past year and we are using the new businesses to expand into areas where the company sees rising demand from our banking and capital markets customers. We are also expanding our reach with strategic M&A” FIS CEO Stephanie Ferris stated in an earning webcast.
“Every financial institution is focused on their digital experience, which is why we continue to invest very significantly, both organically and then from an acquisition standpoint.”
“Demica solutions are complementary to FIS’ current lending portfolio by enabling the company to better serve the supply chain financing needs of corporates and large banks. The acquisition strengthens FIS’ position as a lending leader, enabling the company to expand into the supply chain financing space, offer the broadest set of lending capabilities, enabling us to better serve the supply chain financing needs of trade banks and corporations” an FIS spokesperson told GTR.