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Fiserv, Inc. (//) is a global provider of financial services technology. The company's clients include banks, thrifts, credit unions, securities broker dealers, leasing and finance companies, and retailers. 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 $5.51 billion in 2016. In summer of 2018, Fiserv obtained the naming rights to the Fiserv Forum, home to the Milwaukee Bucks, for 25 years. Fiserv has been named as 2019 Fortune World's Most Admired Companies, sixth consecutive year it has earned this recognition and 9 times in the last 11 years.
|Traded as||NASDAQ: FISV|
S&P 500 Component
|Headquarters||Brookfield, Wisconsin, U.S.|
|Jeffery W. Yabuki, President and CEO
Bob Hau, CFO and Treasurer Lynn McCreary, Chief Legal Officer Ken Best, Chief Accounting Officer Jeff Browning, Chief Risk Officer Marc West, Chief Information OfficerByron Vielehr, Chief Administrative Officer
Number of employees
|23,000 (April 2017)|
Fiserv dates from July 31, 1984, from the merger of Sunshine State Systems, Inc. (Tampa, Florida) and First Data Processing (Milwaukee, Wisconsin). In 1986, Fiserv went public as a $70 million data processing company. Within years of becoming public, Fiserv was serving a number of financial institutions in the United States. Fiserv employs a strategy of corporate acquisition and horizontal integration. By 2009 it had become a Fortune 500 company worth $4.7 billion with over 19,000 employees.
Acquisitions and newsEdit
- Citicorp Information Resources — a subsidiary of Citicorp. This acquisition put Fiserv into the commercial banking, internal and credit union core account processing market space.
- Information Technology, Inc., (ITI) — in Lincoln, Nebraska. This gained Premier, at that time the most widely implemented account processing platform in the United States, and grew its number of account processing clients.
- Fiserv reached $1 billion in revenue.
- General American Corporation (GAC)
- CNS (Consumer Network Services)
- Del Mar Database
- Assets of U.S. eLending business from Emergis
- Interactive Technologies
- Administrative Services Group Inc.
- JW Hutton
- Xcipio, Inc.
- CareGain, Inc.
- Asset of CT Insurance Services & CCH Wall Street
- CheckFree — which had itself just acquired Corillian, Carreker, and Upstream Technologies LLC. Fiserv's largest acquisition to date, CheckFree was then 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.
- Interactive Technologies, Inc. was acquired by Checkfree Investment Services, Inc. Interactive Technologies, Inc. develops, markets, and supports billing software and ancillary products for the banking and investment advisory industries. The company offers a product "Advantage Fee System" that calculates complex billing for fees and commissions.
- 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
- M-Com — established in 2000 and based in Auckland, New Zealand, M-Com developed mobile banking apps.
- Maverick Network Solutions — established in 2006 and based in Brandywine Hundred, Delaware.
- CashEdge — to payment solutions, including Popmoney.
- Open Solutions, Inc. — account processing DNA platform. Fiserv paid $55 million to take on the DNA and took on $960 million in debt.
- Fiserv announced that it will offer Guardian Analytics products for its clients to secure online banking channels.
- Fiserv purchases Elan processing from U.S. Bank.
- Fiserv said it will buy payment processor First Data in a $22 billion deal, making it one of the largest acquisitions in the financial technology sector. The all-stock deal is at a premium of nearly 30 percent over First Data's closing price. First Data shares rose 17.1 percent to $20.55 in early trading, while Fiserv shares fell 5.4 percent to $71. Fiserv shareholders will own 57.5 percent of the combined company and First Data shareholders will own 42.5 percent. Fiserv offered 0.303 of its shares for each First Data share. Fiserv Chief Executive Officer Jeffery Yabuki will become CEO and chairman of the combined company. After the deal closes in the second half of 2019, the combined company's adjusted earnings per share is expected increase by more than 20 percent in the first full year, the companies said. J.P. Morgan Securities was the financial adviser to Fiserv and Bank of America Merrill Lynch for First Data.
- "FISERV INC 2016 Annual Report Form (10-K)" (XBRL). United States Securities and Exchange Commission. February 23, 2017.
- "FISERV INC 2015 Annual Report Form (10-K)" (XBRL). United States Securities and Exchange Commission. February 19, 2016.
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- Fiserv, Inc. (n.d.). "About Fiserv". Fiserv.com. 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.
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- "Fiserv completes acquisition CashEdge", Yahoo! Finance, Yahoo!, 14 September 2011, retrieved 22 September 2011
- "Fiserv Buys Open Solutions to Grow Financial Services", Bloomberg, Bloomberg, 15 January 2013, retrieved 15 January 2013
- 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.
- "Fiserv buying digital banking business from ACI Worldwide for $200 million", Milwaukee Business Journal, Milwaukee Business Journal, 21 January 2016, retrieved 24 October 2017
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- "Fiserv Moves to Reinvent Payments Infrastructure with Acquisition Dovetail". www.businesswire.com. Retrieved 2017-11-16.
- "Fiserv completes Monitise acquisition | BizTimes Media Milwaukee". BizTimes Media Milwaukee. 2017-09-01. Retrieved 2017-11-16.