IDS, a leading provider of mission-critical enterprise solutions for secured finance, announced it was named one of the top 100 financial technology providers in the world by IDC Financial Insights, ranking 69th on the 2021 IDC FinTech Rankings. The 18th annual vendor ranking recognizes the world's leading hardware, software, and service providers to the financial services industry.
"We are honored to be recognized by IDC as a new entrant into this exclusive list of top FinTech providers," says David Hamilton, CEO of IDS. "IDS’ ongoing focus and investment in creating value for our customers has resulted in the expansion of our solution portfolio to deliver equipment finance, working capital, and automotive finance solutions. This recognition affirms our strong growth and our commitment to deliver innovative technology solutions to our secured finance customers."
The Fortune 500-style ranking categorizes and evaluates the top global providers of financial technology based on calendar year revenues from financial institutions for hardware, software, and/or services. These providers supply the technological backbone of the financial services industry – an industry that IDC Financial Insights forecasts an estimated $590 billion (USD) in IT spending by 2025.
"IDC is honored to recognize the technology providers that appear on the 18th annual IDC FinTech Rankings," says Marc DeCastro, research director at IDC Financial Insights. "These are the companies that have shown commitment to the financial services industry, and their appearance on the list is a testament to that dedication."
He adds that to thrive in a digital economy, financial services organizations must embrace and integrate innovative technology effectively to enhance the customer experience and achieve operational excellence. IDS and the vendors featured on the IDC FinTech Rankings represent those providers committed to helping financial institutions successfully execute their digital transformation initiatives for the betterment of their customers around the world.
Hamilton agrees with this assessment. "We believe the most successful secured finance companies are those that prioritize digital transformation such as moving to a true software-as-a-service (SaaS) platform, like IDScloud™. Our goal is to deliver innovative, agile, and scalable digital solutions to set our customers up for success and create a positive experience at every touchpoint."
The 2021 IDC FinTech Rankings are based on 2020 calendar year revenues attributed to financial institutions. This is the first year IDS has appeared on the prestigious 2021 IDC FinTech Rankings list.