04/14/2014

FIS Expands Consumer Lending Offering through Acquisition of CMSI

Key facts

• Acquisition expands FIS’ total lending offering to North American financial institutions.
• Combination creates a premier end-to-end loan life cycle management offering for direct and indirect lenders across North America.
• Addition of CMSI brings new top-tier capabilities that enable FIS to better support the lending needs of a wider range of institutions.

JACKSONVILLE, Fla., April 14, 2014 − Underscoring its commitment to serve the consumer lending needs of North American financial institutions, FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, today announced the acquisition of CMSI, a premier provider of consumer loan origination software and services. “Lending remains the No.1 driver of revenue for financial institutions, yet they continue to struggle with inefficiencies created by the use of disparate and siloed lending systems and processes throughout the full loan life cycle,” noted Rachel Landrum, executive vice president, FIS. “Combining CMSI’s underwriting solution automation with FIS’ closing, servicing and portfolio management capabilities creates a top-tier solution set that uniquely addresses these inefficiencies within lending organizations of all sizes. We believe the addition of CMSI better positions FIS to capitalize on the significant opportunities within the consumer lending space.” Founded in 1987, CMSI is a leading provider of consumer loan origination and portfolio management software to a broad spectrum of financial institutions within the U.S. and Canada ranging from community-based institutions to large, international lenders. Terms of the transaction were not disclosed.