FIS benefits from NYCE, AI

Core Insights - The trend towards AI is driving Fidelity National Information Services (FIS) to enhance its technology, payments, and digital services for bank and capital markets clients [3][4] - FIS is positioned as a strategic partner for clients in their AI journeys, leveraging its extensive data to power AI algorithms [4] - The company anticipates increased data management following the acquisition of an issuer business from Global Payments, expected to close in Q1 next year [4] Financial Performance - FIS reported a 7% increase in net income from continuing operations, reaching $264 million, and a 6% rise in revenue to $2.7 billion for the third quarter [5] - The growth in revenue was significantly driven by FIS's payments services, including the NYCE debit card network, which saw sales more than double compared to the previous year [6] - The company noted strong bank technology spending, with clients prioritizing investments in high-growth areas such as digital solutions and AI [6] Market Trends - The adoption of AI in financial services is accelerating, with FIS noting that the pace and depth of this transformation have exceeded expectations [6] - The NYCE network's performance is highlighted as a key success, with a threefold increase in pipeline growth compared to last year, benefiting from enhanced AI capabilities for fraud screening [6]