Fintech leader Stephanie Ferris from FIS steered through a monumental $24 billion business transaction.
Embracing the Big, the Bold, and the Necessary
Stephanie Ferris, CEO of Fidelity National Information Services (FIS), believes that if you're not making decisions that make you nervous or uneasy, you're not playing the game at full intensity. This fearless approach was on full display when FIS announced its whopping $24.25 billion deal to sell Worldpay to Global Payments - a move that signified a major shake-up within the fintech industry.
This three-way asset reshuffling saw Global Payments selling its issuer solutions unit, offering card processing and account services, to FIS for $13.5 billion. Simultaneously, Global Payments acquired Worldpay from FIS, while private equity firm GTCR walked away with a tidy return and a 15% stake in the newly combined company.
For Ferris, this wasn't just a business transaction; it was a strategic move to streamline FIS's business, focusing on its core - serving financial institutions with issuer and banking infrastructure. As she puts it, "Financial services are no longer just transactional. They're experiential." To deliver seamless financial experiences, companies need modern infrastructure and a relentless focus.
The sale also provides FIS with cross-sell potential, combining its debit processing with Global's credit capabilities. Ferris proudly justifies this deal as a "win-win-win" for all parties involved.
But how does a fintech CEO build conviction around such a monumental transaction?
According to Ferris, it's all about analysis, both quantitative and qualitative. She delves deep into market, customer, financial, and investor analysis, ensuring she's fully informed before making a move. Yet, her decision-making process isn't just about spreadsheets and figures. It also includes instinct and empathy. She consults with her board, leadership team, and even takes long walks to weigh big moves.
Ferris's approach to decision-making has been instrumental in her successful leadership at FIS, one of the country's largest financial firms, processing over $12 trillion annually. She's led the company through structural shifts, strategic pivots, and now one of the industry's most closely watched carve-outs.
In today's volatile market, Ferris thrives on uncertainty. "If you know strategically what you're doing is the right thing-no matter what's going to happen in the market-you move forward," she states.
Ferris's method of blending rigor with gut feelings has been a key factor in her ascent and her style of leadership. This blend has served her well as she navigates the complex world of fintech, demonstrating that women can excel in traditionally male-dominated industries.
The Worldpay deal signals a new era in fintech, one where companies focus on specific services instead of attempting to do everything. Ferris is clear about her approach: focus on high-growth verticals like payments, digital, and lending.
This discipline is matched by Ferris's decisiveness. "The worst thing in business is not making a decision," she states. "Try to make a decision quickly and with conviction. They're not all going to be right, and you can fix it the next day if it's wrong."
Furthermore, Ferris values collaboration. She recognizes that small players keep big ones from becoming complacent. This big-meets-small dynamic shapes her leadership philosophy, as she seeks to bring innovative solutions to FIS, whether through in-house development, strategic acquisitions, or partnerships.
In the end, Ferris leaps, making bold moves even in the face of uncertainty. This is a lesson for all fintech leaders: chop wood, carry water, and embrace the unknown. In this rapidly evolving industry, those who embrace change will thrive, while those who cling to the past will be left behind.
- Stephanie Ferris's strategic move to focus on high-growth verticals like payments, digital, and lending in the fintech industry demonstrates a keen understanding of the necessity for businesses to invest in technology for growth and success.
- In the volatile world of fintech, decision-making that combines rigorous analysis with gut feelings and a fast, decisive approach is essential for navigating uncertainty and embracing the big, bold, and necessary changes that drive innovation.
