Korean market poses great opportunities for Fidelity Information Services

Fidelity Information Services announced that the company sees huge opportunities in the Korean financial markets and noted that this is the right time to enter into the Korean markets. Considered to be a leading service provider in the global financial IT market, Fidelity Information Services offers ATM, online banking, consulting and outsourcing services as well as ordinary banking solutions. The company has observed the market conditions in Korea for several years and now it finally decided to move into these markets.

The first move of Fidelity to extend its presence to Korea was the agreement for business cooperation with LG CNS, which allows Fidelity Information Services and LG CNS not only to share patent solutions, best practices, technology and professionals, but also to perform joint sales and marketing. John Haley, President of Asian/Pacific operations of Fidelity Information Services, explains the reason of their choice by the LG CNS’s meeting its need in long term business in Korea.

Still, the agreement with LG CNS is said to be just the beginning of Fidelity’s plans. The company is determined to have a firm presence through acquiring a Korean financial solutions provider, not through establishing its Korean branch. Consequently, Fidelity Information Service’s business model includes such key aspects as outsourcing. Thus it is expected that the company will be employing new personnel in Korea. Meanwhile, Fidelity Information Services is focusing on its four services in Korea, including payment, core banking, ATM and internet banking.