Fidelity National Information Services Inc., which notched solid, if unexciting, earnings in the fourth quarter, says it plans to grow by cross-selling to large banks worldwide.

"Our international business continues to play a key role in our growth strategy and we are excited to have surpassed a billion-dollar milestone" for revenue in that category, said Frank Martire, president and chief executive of FIS, during a conference call Tuesday morning.

FIS had solid demand for outsourced processing, back office support and professional services "as clients seek to leverage our scale and broad service capabilities," said Gary Norcross, the chief operating officer for FIS, during the call.

Like competitors Jack Henry & Associates Inc. and Fiserv Inc., FIS expects to fuel growth by cross-selling to existing clients.

"We think we have a great opportunity to gain more share in the large financial institution market space," Norcross said.

FIS' focus on larger banks sets it apart from competitors.

"Within the top 50 financial institutions, FIS has arguably the most developed market share," says Peter J. Heckmann, a senior research analyst for Avondale Partners LLC, who estimates FIS has a 35% share of top bank business.

FIS has also benefitted from a trend internationally, and particularly in Europe, for banks to look for best-of-breed outsource providers for core services, experts say.

The FIS core platform is the most scalable and global of U.S.-based core providers, says Christine Barry, a research director for Aite Group.

"Traditionally, those banks have built their own systems, and now they are showing a greater willingness to consider vendor-built solutions that will help them operate more efficiently and cut costs," Barry says.

FIS' domestic revenue is likely to grow in the 2% to 4% range in the next year, about on par with Fiserv's, Heckmann says. But international revenue should grow in the 12% to 15% range.

About 20% of FIS' revenue comes from international business, compared to Fiserv, which counts about 5% of revenue from overseas activity, Heckmann says.

In Brazil, FIS handles processing for about 50 million cards through a relationship with Banco Bradesco SA. FIS' acquisition of Certegy in 2006 gives it additional heft in Brazil for point of sale check authorization, Heckmann says. Meanwhile FIS has benefitted from the bad economic environment in Europe, which has forced many banks to either merge or consider doing so, expert say.

During the call, Martire also announced a new agreement FIS has to provide core services to Royal Bank of Canada, which will establish a direct bank in the U.S.

FIS' fourth-quarter revenue increased 7%, to $1.5 billion, compared to the same period a year earlier. Net earnings attributable to common stockholders totaled $123.0

million, compared to $121.3 million a year earlier.

The Jacksonville, Fla., company also reported that net income for 2011 increased 16.1%, to $469.6 million. Full-year revenue from its international solutions division grew nearly 22%, to $1.2 billion.

FIS "has lagged its direct competitors, but it is a quality company with a reliable, recurring revenue stream," says John Kraft, an analyst for D.A. Davidson & Co.