Fidelity Information Services tops the rankings in 2011 of the largest financial technology vendors in the world, according to the eighth annual FinTech 100 survey compiled by IDC Financial Insights, American Banker and Bank Technology News.
The provider of technology and services to financial firms that was born in 1968 under the rubric Systematics was followed by Fiserv, an information management and electronic commerce services supplier, and Tata Consultancy Services of India.
The top global technology providers to the financial services industry also continued to grow, despite what IDC, Banker and BTN called “the impact of ongoing challenges within the global economy.’’
Revenues for this year’s 100 largest financial technology firms grew to a combined $58.1 billion. That is an almost 10 percent increase from the prior year. The FinTech 100 rankings are for 2010. The comparison is to 2009.
“The financial services industry remains in a precarious place with the global economy at another tipping point and regulatory and compliance concerns at an all time high,” said Karen Massey, senior analyst, banking practice at IDC Financial Insights. “However, the FinTech 100 gives us the industry-leading providers of the most innovative, efficient, and effective technology solutions to financial institutions, and they are performing quite well in this very difficult era.”
Survey highlights include:
-- Minimum annual revenue to make the list was slightly more than $39 million.
-- Ten companies joined the list: Wincor Nixdorf (#11), Core Logic (#16), Aegis Global Communications (#51), ISGN Corporation (#68), Clear2Pay (#81), Sorto Corp. (#91), BancVue (#95), Multifonds (#96), FNC, Inc. (#98), and Novantas, LLC (#100).
-- Only six joined the list last year
-- Davis + Henderson jumping 23 spots from 64 to 41
-- FIS passed 2010’s #1 ranked company, Fiserv, to claim the top spot
-- Companies from the United States continue to dominate
-- India had 10 companies on the list this year
“It is encouraging to see that so many vendors in the financial industry performed well in spite of the troubled economy in this country,” said Penny Crosman, editor of Bank Technology News. “These companies are nimbly adapting their company and product strategies to meet changing demands.”
The 2011 ranking of the top 100 software and service providers in the financial services industry is categorized and evaluated by calendar year-end revenues (CY10) and the percentage of revenues from sales to financial services industry clients.
The ranking includes vendors that derive more than one-third of eligible revenue from the financial services industry.
-- This article first appeared on Securities Technology Monitor.