This year's FinTech Top 10 includes core processors, ATM vendors, payments giants, outsourcers and a new entrant —lending technologist LPS.
Here's a look at how they got there, and where they're headed.
1. Fiserv
Jeffery W. Yabuki says he's glad to be where he is. "We are happy we began three years ago in reshaping the company," said Yabuki, who joined Fiserv Inc. in November 2005 as its president and chief executive. Fiserv was the No. 1 company in American Banker's FinTech 100 ranking for the second year in a row, based on its 2008 revenue.
2. SunGard
Banking executives have their hands firmly wrapped around their wallets when it comes to IT purchases. To hear Cristobal Conde tell it, the office door's pretty tough to pry open as well. SunGard, which reported 2008 revenue of about $5.6 billion and counts most of the world's largest 50 financial firms as clients, is among those that are managing to get a foot in the door.
3. Fidelity
Fidelity National Information Services Inc.'s nearly $3 billion deal to buy Metavante, and vault itself over market-share rival Fiserv, is arguably the most important financial technology deal of the decade. But, truth told, it's something of a miracle that it came together at all.
4. Diebold
Diebold Inc. had two major goals for 2008: forge ahead with deploying new technology and make amends with the Securities and Exchange Commission over its accounting practices.
5. NCR
NCR Corp. kicked off 2008 with the strongest sales in its lengthy history, in part the result of an ongoing transformation plan. The company's main focus remains financial services and retail, but it has been expanding into other industries in recent years and these diversification efforts have helped it get through this year's recession.
6. Tata Consultancy Services
The words were slipped into Tata Consultancy Services' most recent earnings report, in June, like dressing on a salad but still drew a lot of attention from investors desperate for any sign of life in the dreary information technology sector.
7. First Data
First Data Corp. has become a do-it-yourself company in the past year, shedding an acquisitive culture while expanding into new markets. The Atlanta unit of Kohlberg Kravis Roberts said that its earlier strategy hamstrung its efforts to expand quickly.
8. Total System Services
Spun off from Synovus Financial Corp. on the last day of 2007, Total System Services Inc. entered 2008 with much more control over its costs and a newfound ability to make its own decisions about acquisitions.
9. Lender Processing Services
Lender Processing Services has positioned itself as a mortgage technology and service provider for all weather, yet in its first year as an independent company it's proven to be particularly adept at storm drainage.
10. Metavante
It is safe to say that Metavante Technologies, a stalwart of the FinTech 100 since the list's inception in 2004, will not be making a return appearance in 2010. The Milwaukee vendor, No. 10 on the list for the past two years, sold itself Oct. 1 to Fidelity National Information Services Inc. in Jacksonville, Fla., for $2.94 billion of Fidelity stock.
