Fiserv

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Fiserv, Inc., is an American provider of financial services technology. The company's clients include banks, thrifts, credit unions, securities broker dealers, leasing and finance companies, and retailers, among others.[4] In October 2015, American Banker and BAI ranked the company third by revenue among technology providers to U.S. banks.[5] Fiserv reported total revenue of $4.55 billion in 2013.

History

Starting in 1984 as a privately held company, Fiserv transformed itself through a corporate acquisitions strategy resulting in more than 150 acquisitions during the following 25 years. Beginning as a $21 million business with 350 employees, by 2009 it had become a Fortune 500 company worth $4.7 billion with more than 19,000 employees.[6]

Fiserv started on July 31, 1984, when Sunshine State Systems, Inc., based in Tampa, Florida, and First Data Processing, based in Milwaukee, Wisconsin, combined to form Fiserv, Inc.[7] Two years later in 1986, Fiserv went public as a $70 million data processor company.[8] Within fours years of becoming public, Fiserv was serving a number of large financial institutions in the United States.[8]

In 1991, Fiserv acquired Citicorp Information Resources, a subsidiary of Citicorp. This acquisition put Fiserv into the commercial banking, internal and credit union core account processing market space.[6] Then, in 1995, Fiserv acquired Information Technology, Inc., (ITI), in Lincoln, Nebraska, expanding its number of account processing clients, and gaining, at that time, the most widely implemented account processing platform in the United States, Premier.[6] In 1998, Fiserv reached $1 billion in revenue.[8] Later, in 2007, Fiserv made its largest acquisition to date by acquiring CheckFree Corporation, the leading provider of online banking, online bill payment, electronic bill payment services, and software for check clearance and Automated Clearing House (ACH) processing.[6]

In 2011, the company purchased M-Com, a provider of mobile banking applications;[9] and CashEdge (Popmoney), a provider of electronic funds transfer services.[10] Two years later, the company purchased Open Solutions (DNA).[11] In October 2013, Fiserv announced that it will offer Guardian Analytics products for its clients to secure online banking channels.[12]

Areas of business

According to both the Reuters company profile and the Yahoo! Finance company profile for Fiserv, Fiserv provides products and services within these areas:[13][14]

  • Account Processing Systems
  • Electronic Payments Processing Products and Services (Including, but not limited to, electronic bill payment and presentment, card-based transaction processing and network services, automated clearing house (ACH) transaction processing, account-to-account transfer products and person-to-person payments)
  • Internet and Mobile Banking Systems
  • Document and Payment Card Production and Distribution,
  • Check Processing and Imaging
  • Source Capture Systems
  • Lending Products and Services
  • Risk Management Products and Services
  • Post-trade processing systems[15]
  • Straight-through processing[16]

Acquisitions

Office in Hillsboro, Oregon, formerly headquarters of Corillian

2016

  • Fiserv to Acquire Digital Banking Assets from ACI Worldwide
  • Fiserve acquires Hewlett Packard Convenience Pay

2013

  • On January 14, 2013 Fiserv announced that it had purchased Open Solutions, Inc. for $55 million and assumed $960 million in debt.[17]

2011

  • Mobile Commerce — mobile banking apps; established in 2000 and based in Auckland New Zealand; M-Com was acquired by Fiserv in February 2011.[9]
  • Maverick Network Solutions — established in 2006 and based in Brandywine Hundred, Delaware; Maverick was acquired by Fiserv in March 2011 for an undisclosed sum and did not include personnel changes at Maverick.[18]
  • CashEdge (including Popmoney) — person to person payments; acquired by Fiserv in September 2011.[19]

2010

2008

2007

2006

  • CareGain, Inc.
  • Asset of CT Insurance Services & CCH Wall Street

2005

  • Del Mar Database
  • Assets of U.S. eLending business from Emergis
  • Interactive Technologies
  • Administrative Services Group Inc.
  • JW Hutton
  • BillMatrix
  • VerticalPoint
  • Xcipio, Inc.

2003

  • General American Corporation (GAC)

References

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External links

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 Lua error in package.lua at line 80: module 'strict' not found.
  2. ↑ 2.0 2.1 Lua error in package.lua at line 80: module 'strict' not found.
  3. ↑ Fiserv, Inc 2011 Annual Report, Form 10-K, Filing Date Feb 24, 2012
  4. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  5. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  6. ↑ 6.0 6.1 6.2 6.3 Lua error in package.lua at line 80: module 'strict' not found.
  7. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  8. ↑ 8.0 8.1 8.2 Lua error in package.lua at line 80: module 'strict' not found.
  9. ↑ 9.0 9.1 Lua error in package.lua at line 80: module 'strict' not found.
  10. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  11. ↑ Lua error in package.lua at line 80: module 'strict' not found.
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  13. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  14. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  15. ↑ A Technical Examination of the Fiserv TradeFlow STP/Post-Trade Platform. TechRepublic. Retrieved on 2013-10-16.
  16. ↑ http://www.verrazano-consulting.com/A_Technical_Examination_of_the_Fiserv_TradeFlow_STP__Final_2012.pdf
  17. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  18. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  19. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  20. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  21. ↑ "First Interstate selling Billings-based company" KPAX.com. Retrieved 18 April 2009.
  22. ↑ [1]. Retrieved 9 September 2009.
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