UK’s Sainsbury’s Bank Selects FIS as Retail Banking Technology Partner
*FIS named as technology partner to Sainsbury’s Bank, providing a fully
outsourced real-time core banking solution, back-office processing and
*Agreement underscores FIS’ ability to deliver cost-efficient and
next-generation financial technology services to the global marketplace
JACKSONVILLE, Fla. & LONDON -- May 08, 2013
FIS™ (NYSE:FIS), the world’s largest provider of banking and payments
technology, has been selected by Sainsbury’s Bank as the bank’s technology
partner for all its retail banking operations. Under the terms of this
strategic multi-year arrangement, FIS will provide real-time core banking and
back-office processing support via an outsourced model on behalf of
Announcing its Preliminary Results today, J Sainsbury plc confirmed its
intention to acquire the Lloyds Banking Group 50 per cent shareholding in
Sainsbury's Bank. The announcement is the latest development in Sainsbury’s
overall strategy to help its customers to Live Well For Less and at the same
time grow sales and profits from complementary new business channels by
leveraging the Sainsbury’s brand.
FIS will provide a fully integrated real-time core processing and back-office
IT solution to Sainsbury's Bank and deliver transition support as the bank
moves its back-office services from Lloyds Banking Group to FIS. FIS’
integrated solutions will support the bank’s deposit, savings, loan and credit
cards accounts, and deliver seamless channel integration to enable customers
to access their accounts through telephone, internet and mobile devices. The
entire operation will be hosted and run by FIS in the UK.
“Sainsbury’s plans to extend their banking services will increase competition
by introducing a new and exciting player to the UK banking market. FIS has
unrivalled experience in core banking and financial technology outsourcing and
is uniquely qualified to help them achieve their growth ambitions,” said Mark
Davey, EVP, International, FIS. “The ground breaking deal is a testament to
position FIS as a world leader in outsourcing and financial technology
FIS is a world leader in hosted core banking solutions with long-term
relationships with 40 of the world’s top 50 banks. This strategically
important deal for both companies reinforces FIS’ position as a global leader
in the delivery of financial services technology with the ability to provide
cost-effective and efficient support for organisations as they take new
banking services to market.
Commenting on the announcement, Peter Griffiths, CEO Sainsbury’s Bank said,
“Introducing our new technology partner is a major step forward in our
evolution as we become a wholly owned Bank. We are delighted to be working
with FIS, who are experts in their field. We are very pleased with their
domain expertise and the extensive functionality delivered by their banking
and payments solutions.”
About Sainsbury’s Bank
To view our latest press releases and product information, please visit the
Sainsbury's Bank online media centre at www.sainsburysbank.co.uk/media.
Sainsbury’s was the first major British supermarket to open a bank, commencing
trading in February 1997. Benefiting from a fantastic, trusted brand that
enables us to combine the shopping experience with personal finance,
Sainsbury's Bank provides a range of quality products including insurances,
credit cards, savings and loans. Our proposition is to make shopping more
rewarding by offering customers great products at fair prices, while
consistently rewarding shoppers for their loyalty and being easy to do
business with at all times.Our products consistently top Best Buy tables and
regularly win awards for quality, price and service.
So far in 2013, the Bank has been awarded 'Personal Loan Provider of the Year'
– Consumer Moneyfacts, 'Best Loan Provider' – Money Supermarket Supers and
'Best Credit Card for Rewards' – Moneynet.
Sainsbury's Bank has its own banking licence, isauthorised by the Prudential
Regulation Authority and regulated by the Financial Conduct Authority and the
Prudential Regulation Authority (register no. 184514), except for Credit Cards
and Loans where it is licensed by the Office of Fair Trading (OFT) license no.
421897. The Bank has an independent membership to the Financial
For further information and general Sainsbury's Bank enquiries customers can
call the freephone number on 0500 40 50 60 or visit www.sainsburysbank.co.uk.
FIS (NYSE: FIS) is the world’s largest global provider dedicated to banking
and payments technologies. With a long history deeply rooted in the financial
services sector, FIS serves more than 14,000 institutions in over 100
countries. Headquartered in Jacksonville, Fla., FIS employs more than 35,000
people worldwide and holds leadership positions in payment processing and
banking solutions, providing software, services and outsourcing of the
technology that drives financial institutions. First in financial technology,
FIS tops the annual FinTech 100 list, is 425 on the Fortune 500 and is a
member of Standard & Poor’s 500^® Index. For more information about FIS, visit
This news release contains forward-looking statements that involve a number of
risks and uncertainties. Statements that are not historical facts, including
statements about our beliefs and expectations, are forward-looking statements.
Forward-looking statements are based on management's beliefs, as well as
assumptions made by, and information currently available to, management.
Because such statements are based on expectations as to future economic
performance and are not statements of fact, actual results may differ
materially from those projected. We undertake no obligation to update any
forward-looking statements, whether as a result of new information, future
events or otherwise. The risks and uncertainties which forward-looking
statements are subject to include, but are not limited to: changes in general
economic, business and political conditions and other risks detailed in the
“Statement Regarding Forward-Looking Information,” “Risk Factors” and other
sections of the Company’s Form 10-K and other filings with the Securities and
Kim Snider, +1.904.438.6278
FIS Global Marketing and Communications
Mary Waggoner, +1.904.438.6282
Senior Vice President
FIS Investor Relations
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