Technology provider FIS ended the third quarter with the acquisition of payment systems company Dragonfly Financial Technologies, a move that will boost the company’s digital offerings. 

“Dragonfly complements our digital portfolio, expanding our digital offerings across large financial institutions, including some of the largest regional banks, for which we already have significant relationships,” Stephanie Ferris, chief executive and president at FIS, said during the company’s Q3 earnings call on Nov. 4.  

FIS did not disclose details of the Dragonfly acquisition to Bank Automation News. 

Dragonfly will enable FIS to provide banks with solutions for commercial customers, Ferris said during the earnings call, including: 

• Managing liquidity; 

• Combating fraud; and 

• Handling payments. 

Earnings 

The Jacksonville, Fla.-based FIS is seeing “solid demand across core banking and digital solutions,” Ferris said during the earnings call. The company has signed more core engagements clients through the first three quarters of 2024 than it did in all of 2023, she said. 

 New FIS bank partners in Q3 include:

• $73 billion Commerce Bank for FIS’ which uses FIS for its engagement solution and APIs; 

• $2 billion South Shore Bank which uses FIS for its’ IBS core solution; and 

• $35 billion EverBank which uses FIS for its digital teller solution. 

In addition, FIS in the third quarter landed contracts with technology companies to create more efficient digital solutions, including: 

• Neural Payments, to streamline peer-to-peer payments; 

• Curinos, to offer core banking system customers more data insights; and 

• Lendio, for a product that streamlines lending for small and medium businesses. 

FIS reported revenue of $2.6 billion, up 4% year over year, according to the company’s Q3 earnings report. 

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