Beneficial Bank Reduces Costs And Delivers Powerful Servicing Tools Through New Partnership With FIS

FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, announced that it has signed a new multiyear IT managed services agreement with Philadelphia-based Beneficial Bank. Under the new agreement, FIS will provide a full spectrum of technology services for managing the bank’s IT operations, including desktop support, inventory management and server operations.

Reflecting a growing trend across the financial services marketplace, Beneficial Bank wanted to focus management time on business operations and gain efficiencies and reduce costs by outsourcing its servers, network, desktop support and telecom to FIS. This change will allow the bank to respond more quickly to customer needs and provide dedicated, round-the-clock customer support.

“To spur growth, financial institutions must focus on the things that differentiate them from their competitors,” said Anthony Jabbour, EVP, FIS North American Financial Institutions. “That means turning to a provider who can create operating efficiencies that give these institutions the freedom to focus on what’s important to them.”

“We were impressed by the breadth and scalability of FIS’ outsourcing capabilities,” said Rob Maines, EVP, director of operations, Beneficial Bank. “We wanted a single-service provider so we had fewer vendors to work with and could concentrate our time and efforts on building our bank and serving our customers. This partnership offered us one point of contact to meet all of our needs so we could focus our efforts where they belong – on our customers.”

With $4.7 billion in assets, Beneficial Bank is headquartered in Philadelphia and is the fifth-largest publicly traded mutual holding company in the U.S.

FIS is a recognized leader in IT outsourcing. Already this year, nearly 350 different companies have begun working with FIS to start or expand IT outsourcing initiatives.

About FIS

FIS (NYSE: FIS) is the world’s largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 35,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. First in financial technology, FIS tops the annual FinTech 100 list, is 434 on the Fortune 500 and is a member of Standard & Poor’s 500 ® Index. For more information about FIS, visit

Copyright Business Wire 2010