FIS BANKING SOLUTIONS UK LIMITED
Company Information
- Company Number
- 03517639
- Registered Address
- 1st Floor Tricorn House 51-53 Hagley Road, Edgbaston, Birmingham, West Midlands, B16 8TU
- Status
- Active
- Employee Count
- 458.0
- Turnover
- 151016000.0
- EBITDA
- -468000.0
Additional Details
- Website
- https://fisglobal.com
- Company Type
- Private limited Company
- Incorporated On
- 26 February 1998
- Nature of Business
- 63110 - Data processing, hosting and related activities
- Industries
- 0
- Region
- West Midlands
Company Location
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Financial Metrics
Time to Pay
Payment Timeline
Payment Features
Payment Time Trends
Payment Distribution Trends
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2023 - 31 Dec 2023 | 31 Jan 2024 | 32 | 79% | 13% | 8% | 33% |
| 01 Jan 2023 - 30 Jun 2023 | 24 Jul 2023 | 31 | 78% | 13% | 8% | 40% |
| 01 Jul 2022 - 31 Dec 2022 | 31 Jan 2023 | 31 | 80% | 14% | 6% | 37% |
| 01 Jan 2022 - 30 Jun 2022 | 31 Jul 2022 | 41 | 69% | 19% | 12% | 47% |
| 01 Jul 2021 - 31 Dec 2021 | 19 Jan 2022 | 43 | 59% | 23% | 17% | 61% |
| 01 Jan 2021 - 30 Jun 2021 | 31 Jul 2021 | 33 | 76% | 16% | 7% | 66% |
Company Summary
FIS BANKING SOLUTIONS UK LIMITED is a financial technology company that provides a range of solutions to the banking industry
Their main focus is on sustainability, with a commitment to reducing their environmental impact and promoting social responsibility
Their products and services include payment processing, risk management, and digital banking solutions
They also offer consulting services to help banks improve their operations and customer experience
The company's sustainability program includes initiatives such as reducing paper usage, promoting remote work to reduce carbon emissions, and partnering with organizations to support local communities
They also have a diversity and inclusion program to foster a more inclusive work culture
The key people at FIS BANKING SOLUTIONS UK LIMITED include the CEO, Gary Norcross, and the Managing Director, Steve Weller
Both have extensive experience in the financial industry
Their website address is www.fisglobal.com/uk and their registered office address is 25 Canada Square, London, E14 5LQ, United Kingdom
Overall, FIS BANKING SOLUTIONS UK LIMITED is a leader in the financial technology industry, with a strong focus on sustainability and providing innovative solutions to their clients
Company Review
Trend Analysis
The average time to pay for FIS BANKING SOLUTIONS UK LIMITED has decreased over the past three periods, from 43 days in the second half of 2021 to 32 days in the second half of 2023. This indicates an improvement in their payment process. Additionally, the percentage of invoices paid within 30 days has consistently been around 76-80%, showing a stable trend in timely payments.
Volatility Analysis
The volatility in the time taken to pay invoices has decreased over the three periods, with the standard deviation decreasing from 5 days in the first period to 3 days in the third period. This indicates that FIS BANKING SOLUTIONS UK LIMITED has become more consistent in their payment process over time.
Summary Analysis
From 2021 to 2023, FIS BANKING SOLUTIONS UK LIMITED has shown an improvement in their average time to pay invoices, decreasing from 43 days to 32 days. The percentage of invoices paid within 30 days has remained relatively stable at around 76-80%, indicating consistent timely payments. However, there has been a slight increase in the percentage of invoices paid later than 60 days, from 7% in 2021 to 8% in 2023.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
30 Days
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/a
Maximum contractual payment period agreed
60
Dispute Resolution Process
N/a
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
❌
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
