Irina Reitgruber was on her way to Houston last week she told me, and indeed, it is in the USA that FIS seems to be doing well at the moment, having signed what she describes as a ‘big deal’ there recently. Although it’s not just in the USA where FIS is making progress, as it has also just gained its first Japanese FIS® Energy Trading, Risk and Logistics Platform (formerly Aligne) client too. “We are seeing growing demand in the Asia-Pac region and we are expanding deeper into this market ,” she said.
She described the market for software as busy with a lot of RFP’s out there and people looking for systems, but she also reminded me that there are also bankruptcies going on as well on the downside. This has meant that she is seeing fewer smaller deals, especially on the retail side where things remain very tight. The main area of interest remains power under current market conditions where there is a lot of activity, she said.
Back to North America, FIS is strong in gas and power there and now entering oil with its new partner Egistix. It is now also seeking other partners in North America in other areas to bolster and strengthen its own offering, she told me. Additionally, FIS is doing a lot of work around strengthening its PPA functionality that she already describes as strong, and adding more around RECS. “The European carbon and emissions side is quite difficult but North America is more complex still due to individual states eligibility rules,” she told me. “RECs markets are very much in trend in North America and we are working hard to satisfy the requirements there.”