|Traded as||NASDAQ: FISV
S&P 500 Component
|Headquarters||Brookfield, Wisconsin, U.S.|
$ 4.3 billion (FY 2011)
|Operating income||$ 491 million (FY 2011)|
|Net income||$ 472 million (FY 2011)|
|Total assets||$ 8.5 billion (FY 2011)|
|Total equity||$ 3.2 billion (FY 2011)|
|Employees||20,000 (December 2011)|
Fiserv, Inc. is a global provider of financial services technology. The company serves more than 16,000 clients worldwide, including banks, thrifts, credit unions, investment management firms, leasing and finance companies, retailers, merchants and government agencies. Fiserv has been ranked the largest provider of information technology services to the financial services industry worldwide for six of the past eight years, giving up its position to Fidelity National Information Services in 2007 and 2011. Fiserv reported total revenue of $4.3 billion in 2011.
Starting in 1984 as a privately held company, Fiserv transformed itself through a corporate acquisitions strategy resulting in more than 150 acquisitions during the next 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.
On July 31, 1984, 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.
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 2007, Fiserv made its largest acquisition to date by acquiring CheckFree Corporation, which was a global provider of financial electronic commerce based in Norcross, Georgia. At the time, CheckFree Corporation was the leading provider of online banking, online bill payment, and electronic bill payment services. CheckFree was also the dominant provider of software for check clearance and ACH processing.
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
- On January 14, 2013 Fiserv announced that it had purchased Open Solutions, Inc. for $55 million and assumed $960 million in debt.
- Maverick Network Solutions — Maverick was established in 2006 and was based in Brandywine Hundred, Delaware; acquisition by Fiserv was in March 2011 for an undisclosed sum and did not include personnel changes at Maverick.
- CashEdge (including Popmoney Person to person payments; acquisition by Fiserv was completed in September 2011.
- 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
- 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.
- Fiserv, Inc 2011 Annual Report, Form 10-K, Filing Date Feb 24, 2012
- "Reuters Company Profile".
- "Fintech Rankings".
- "Fiserv Celebrates 25th Anniversary Press Release, Released July 31, 2009".
- "Fiserv Founder George Dalton Obituary, Milwaukee Journal Sentinel".
- "Fiserv Corporate History, Retrieved 11/14/2009".
- "Fiserv acquires AdviceAmerica - BusinessWeek". businessweek.com. 2011 [last update]. Retrieved 2 August 2011.
- "Fiserv Completes Acquisition of CashEdge". businessweek.com. 2011 [last update]. Retrieved 3 July 2012.
- BankTech: Jan. 15 2013 "Fiserv Acquires Competitor Open Solutions"
- Reuters: Wed Oct. 23, 2013 9:00am EDT "Fiserv Offers Guardian Analytics for Financial Institution Clients to Secure Online Banking Channels"
- "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
- "First Interstate selling Billings-based company" KPAX.com. Retrieved 18 April 2009.
- . Retrieved 9 September 2009.