The FinTech 100The last 18 months has seen large and small banks fail, others go on government-funded life support, and still more bleeding red ink. But the technology vendors that serve the industry "turned lemons into lemonade," as Financial Insights senior research analyst Karen Massey put it. The FinTech 100, American Banker, Bank Technology News and Financial Insights' annual ranking of the largest technology vendors serving the financial services industry, found that many players showed continued strength. And the bar got higher. The smallest company on the 2009 list had financial services revenue of $53.4 million; in 2008 just $36 million was enough to place a company in the ranking. This is in a time when overall technology spending in the industry declined, evidence that bank CIOs are concentrating their spending with the largest vendors as they seek both stability and savings in the scale. The 2009 FinTech 100 list ranks companies based on their calendar year 2008 revenue from financial services, leaving the combination of Fidelity National Information Services (No. 3) with rival Metavante (No. 10) out of consideration for this year's list. And though the revenue of the merged company couldn't be considered because of timing, it's clear that the deal was the biggest event in the FinTech space in a decade or more. That's why you'll find Frank Martire and Gary Norcross, the leaders of the new Fidelity, on the cover of this year's FinTech 100 issue. Congratulations to all 100 companies on the FinTech 100, as well as the Top 25 Enterprise Companies in FinTech. It was a challenging year and your continued performance has earned you accolades and the respect of the industry. |