FNIS, Bank of America to combine resources. (Technology Update).Fidelity National Information Solutions, Inc. and Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. Corporation announced their intent to combine resources and create Financial ServiceSolutions Information Systems, LLC, a mortgage technology-related 50/50 joint venture between the two companies. FSIS FSIS Food Safety and Inspection Service FSIS Food Safety Information System (of Malaysia) FSIS Fixed-Size Importance Sampling FSIS Functional Support Information Systems FSIS Fire Support Interface Specification will act as the development arm of Financial ServiceSolutions, LLC, the previously announced joint venture between Bank of America and Fidelity National Financial, Inc., a majority owner of FNIS FNIS Fidelity National Information Services (Jacksonville, FL) FNIS Fidelity National Information Solutions (Santa Ana, CA) . FSIS will provide software development and outsourced technology services to Financial ServiceSolutions under an annual outsource agreement. Dwayne Walker, president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of FNIS will serve as the president of ESIS. "We are excited to join forces with an industry leader like Bank of America," said Patrick F. Stone, chief executive officer of ENIS. "The outsource agreement with Financial ServiceSolutions is a great source of recurring technology revenue for FNIS." |
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