BIZ-FIS-INDIA

Fintech solutions player FIS

India has recorded over USD 100 million in revenue and the

firm is targeting to grow its topline faster than GDP growth

of over 7 per cent in the coming years, a top official has

said.

A bulk 70 percent of the revenue accrue from the

payments front, while the rest come from the legacy core

banking systems for retail banks.

"We expect our growth in upper single digits over the

next several years," FIS Global's chairman, president and

chief executive Gary Norcross told PTI here.

He said the company has been present here for over two

decades now and employs 14,000 across five cities at present

they are engaged both in local sales and also creating

solutions for the world.

Its overall revenue stand at over USD 9 billion, while

the worldwide employee base is 52,000, he said.

At present, it is investing in both increasing its

sales team and also on the delivery side, he said, adding the

company had won a major chunk of domestic business from the

newly formed payments banks and small finance banks.

It also serves entrenched lenders, helping them

majorly on the payments side, Norcross said.

At a time when a bulk of service providers in the

automated teller machines (ATMs) segment are complaining and

an industry body has also warned of shutting half of the

overall 2 lakh machines, Norcross said his company is not

unhappy about this vertical.

"We've been very pleased with our ATM business in the

country over the last five plus years, and continue to see it

as a nice business for us," he said, adding the company

presently manages 14,000 ATMs for domestic lenders.

As with all other markets, the company continues to be

on the lookout for inorganic growth opportunities to grow in

the country, but Norcross declined to specify any particular

plans or discussions on this front with regard to India

operations.