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Fiserv
Provider of financial services technology to banks From Wikipedia, the free encyclopedia
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Fiserv, Inc. (/faɪˈsɜːrv/ fy-SURV) is an American multinational company headquartered in Milwaukee, Wisconsin. Fiserv provides financial technology and services to clients across the financial services sector, including banks, thrifts, credit unions, securities broker dealers, mortgage, insurance, leasing and finance companies, and retailers.[3][4]
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In October 2015, Fiserv, Inc. was ranked third by revenue among technology providers to U.S. banks by American Banker and BAI.[5] In 2019, the company reported total revenue of $10.187 billion.[1] Additionally, Fiserv owns First Data, which links 2 million ATMs via the STAR network.
Currently, Fiserv holds the naming rights for the Fiserv Forum arena in Milwaukee.[6]
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History
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1980s and 1990s
Fiserv was founded in 1984, and within two years, it was listed on NASDAQ. The company experienced rapid growth mainly due to a series of acquisitions, including Citicorp Information Resources, a subsidiary of Citicorp, which was the largest acquisition in its early years. This acquisition put Fiserv into the commercial banking, internal and credit union core account processing market space.[7]
In 1995, Fiserv acquired Information Technology, Inc., (ITI) of Lincoln, Nebraska. Thus, Fiserv acquired Premier, which at that time was the most widely implemented account processing platform in the US, and represented an increase in Fiserv's account processing clients.[7] Fiserv also launched its website in 1995, and introduced fully electronic bills (branded as E-bills) in 1997, reaching $1 billion in revenue.[8]
2000s
From 2000 to 2017, Fiserv continued to acquire other companies, such as PCLender.[9]
In 2003, Fiserv acquired General American Corporation (GAC) and Consumer Network Services (CNS).[citation needed]
In 2005, Jeff Yabuki became Fiserv's CEO, and the company acquired a number of businesses, including Del Mar Database, assets of U.S. eLending business from Emergis, Interactive Technologies, Administrative Services Group Inc., JW Hutton, BillMatrix, VerticalPoint, and Xcipio, Inc.[citation needed]
In 2006, Fiserv acquired CareGain, Inc., Asset of CT Insurance Services & CCH Wall Street.[citation needed]
In 2007, Fiserv acquired NetEconomy[10] and CheckFree — which had itself just acquired Corillian, Carreker, PhoneCharge[11] and Upstream Technologies LLC.[12] This was Fiserv's largest acquisition to date; CheckFree was at that time the leading provider of online banking, online bill payment, electronic bill payment services, and software for check clearance and ACH (also known as direct debit) processing.[7]
In 2008, Fiserv made an acquisition of Interactive Technologies, Inc., provider of billing software and ancillary products for the banking and investment advisory industries, granting Fiserv control of their "Advantage Fee System" which calculates complex billing for fees and commissions. In the same year, Fiserv acquired i_Tech, a Montana-based item processing company that had been owned by First Interstate Bank.[13] Fiserv also acquired The Data Center, a Texas-based item processing company that had been owned by BBVA Compass Bank.[14]
2010s
In 2010, Fiserv acquired AdviceAmerica, provider of software for financial institutions.[15]
In 2011, Fiserv acquired M-Com. Established in 2000 and based in Auckland, New Zealand, M-Com developed mobile banking apps.[16] Fiserv also in 2011 acquired Maverick Network Solutions, established in 2006 and based in Brandywine Hundred, Delaware,[17] and CashEdge, developer of payment solutions, including Popmoney.[18]
In 2013, Open Solutions, Inc., an account processing platform, was yet another company acquired by Fiserv, following a rebrand of Open Solutions managed by branding agency Bob's Your Uncle. Fiserv paid $55 million to acquire Open Solutions, by taking on $960 million in debt.[19][20]
In 2016, Fiserv acquired Community Financial Services from ACI Worldwide [21] and Convenience Pay from Hewlett Packard[22].
In 2017, Fiserv acquired Dovetail[23] and Monitise.[24]
In 2018, Fiserv acquired MoneyPass, a surcharge-free debit card and ATM processing network, from Elan Financial Services, a unit of U.S. Bancorp.[25]
In 2019, First Data, a payment processor, was acquired for $22 billion, making it one of the largest acquisitions in the financial technology sector.[26]
2020s
In 2020, Fiserv made an acquisition of Bypass Mobile, enterprise point of sale platform.[27] In the same year, CEO Jeffery Yabuki stepped down and was replaced by Frank Bisignano.
In 2021, Fiserv acquired several companies: Ondot Systems, Inc., a digital experience platform for financial institutions;[28][29] NetPay, a payment facilitator;[30] and BentoBox, provider of online restaurant operations.[31]
In 2022, Fiserv acquired Finxact, provider of cloud-based core banking services.[32] The company also acquired TIF District in the same year.
The city of Milwaukee created a tax incremental financing district to incentivize Fiserv to remain in downtown Milwaukee, Wisconsin. The 7 million dollars will be available through annual payments, with the condition Fiserv must base at least 780 employees at the downtown location.[33]
In October 2023, Fiserv acquired Skytef, the primary distributor of Software Express payment solution SiTef.[34]
In March 2025, Fiserv completed the acquisition of Payfare.[35]
In April 2025, Fiserv acquired Australian payment facilitator Pinch Payments for an undisclosed sum.[36]
In April 2025, Fiserv agreed to acquire Money Money Servicos Financeiros S.A., a Brazil-based financial technology company.[37]
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Acquisitions and mergers
- Largest acquisition: First Data Corporation in 2019 for $22 billion
- Total acquisitions: Over 24 companies since inception
- Focus areas: Payments, financial technology, banking services, and digital solutions
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Products
Fiserv offers multiple products, including:
- Carat, a platform that organizes payments and experiences for large businesses[38]
- CardHub, which allows customers to get digital payment cards[39]
- Clover, for small businesses to accept payments at the point of sale, as well as to track sales[40]
References
External links
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