S&P 500 Component
|Headquarters||Brookfield, Wisconsin, U.S.|
|Jeffery W. Yabuki, President and CEO|
Number of employees
|21,000 (December 2013)|
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. In October 2015, American Banker and BAI ranked the company third by revenue among technology providers to U.S. banks. Fiserv reported total revenue of $4.55 billion in 2013.
Reorganized 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.
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. Two years later in 1986, Fiserv went public as a $70 million data processor company. Within fours years of becoming public, Fiserv was serving a number of large financial institutions in the United States.
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. 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. In 1998, Fiserv reached $1 billion in revenue. 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.
In 2011, the company purchased M-Com, a provider of mobile banking applications; and CashEdge (Popmoney), a provider of electronic funds transfer services. Two years later, the company purchased Open Solutions (DNA). In October 2013, Fiserv announced that it will offer Guardian Analytics products for its clients to secure online banking channels.
Areas of business
- 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
- Straight-through processing
- Fiserv to Acquire Digital Banking Assets from ACI Worldwide
- Fiserve acquires Hewlett Packard Convenience Pay
- On January 14, 2013 Fiserv announced that it had purchased Open Solutions, Inc. for $55 million and assumed $960 million in debt.
- Mobile Commerce — mobile banking apps; established in 2000 and based in Auckland New Zealand; M-Com was acquired by Fiserv in February 2011.
- 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.
- CashEdge (including Popmoney) — person to person payments; acquired by Fiserv in September 2011.
- In June 2010, Fiserv acquired AdviceAmerica, the producer of software for financial institutions.
- i_Tech, a Montana-based item processing company that had been owned by First Interstate Bank
- The Data Center, a Texas-based item processing company that had been owned by BBVA Compass Bank
- CheckFree (which had just acquired Corillian, Carreker, and Upstream Technologies LLC)
- CareGain, Inc.
- Asset of CT Insurance Services & CCH Wall Street
- Del Mar Database
- Assets of U.S. eLending business from Emergis
- Interactive Technologies
- Administrative Services Group Inc.
- JW Hutton
- Xcipio, Inc.
- General American Corporation (GAC)
- "FISERV INC 2013 Annual Report Form (10-K)" (XBRL). United States Securities and Exchange Commission. February 20, 2014.
- "FISERV INC 2014 Q1 Quarterly Report Form (10-Q)" (XBRL). United States Securities and Exchange Commission. April 30, 2014.
- Fiserv, Inc 2011 Annual Report, Form 10-K, Filing Date Feb 24, 2012
- "Profile: Fiserv Inc (FISV.O)". Reuters (U.S ed.). n.d. Retrieved March 23, 2016.
- "Top 100 Companies in FinTech". American Banker. October 13, 2015. Retrieved March 23, 2016.
- Fiserv, Inc. (July 31, 2009). "Fiserv Celebrates 25th Anniversary by Remembering Founders and Serving Clients". Fiserv.com (Press release). Retrieved March 23, 2016.
- Silvers, Amy Rabideau (November 18, 2011). "Fascination with Computers Put Dalton on Path to Fiserv". Milwaukee Journal Sentinel. Retrieved March 23, 2016.
- Fiserv, Inc. (n.d.). "About Fiserv". Fiserv.com. Retrieved March 23, 2016.
- Cohen, Stessa (3 March 2011), With M-Com Deal, Fiserv Becomes Lead Vendor in Mobile Retail Banking (PDF), Gartner, retrieved 1 February 2013
- Fiserv, Inc. (September 14, 2011). "Fiserv Completes Acquisition of CashEdge". Fiserv.com (Press release). Retrieved March 23, 2016.
- Camhi, Jonathan (January 15, 2013). "Fiserv Acquires Competitor Open Solutions". Retrieved March 23, 2016.
- Fiserv, Inc. (October 23, 2013). "Fiserv Offers Guardian Analytics for Financial Institution Clients to Secure Online Banking Channels". Fiserv.com (Press release). Retrieved March 23, 2016.
- "Reuters Fiserv Profile".
- "Yahoo! Finance Fiserv Profile".
- A Technical Examination of the Fiserv TradeFlow STP/Post-Trade Platform. TechRepublic. Retrieved on 2013-10-16.
- "Fiserv Buys Open Solutions to Grow Financial Services", Bloomberg, Bloomberg, 15 January 2013, retrieved 15 January 2013
- Starkey, Jonathan (11 March 2011), "Delaware debit card firm bought by Wis. company", Delaware Online, Gannett, OCLC 38962480, retrieved 12 March 2011
- "Fiserv completes acquisition of CashEdge", Yahoo! Finance, Yahoo!, 14 September 2011, retrieved 22 September 2011
- "Fiserv acquires AdviceAmerica - BusinessWeek". businessweek.com. 2011. Retrieved 2 August 2011.
- "First Interstate selling Billings-based company" KPAX.com. Retrieved 18 April 2009.
- "Fiserv Acquires The Data Center from Compass Bank (NASDAQ:FISV)". investors.fiserv.com. Retrieved September 9, 2009.