Fiserv

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fiserv, Inc.
Public
Traded asNASDAQFISV
NASDAQ-100 Component
S&P 500 Component
Founded1984
HeadquartersBrookfield, Wisconsin, U.S.
Key people
Jeffery W. Yabuki, President and CEO
Revenue
  • Increase US$ 5.505 billion (2016) [1]
  • US$ 5.254 billion (2015) [2]
  • Increase US$ 1.445 billion (2016) [1]
  • US$ 1.311 billion (2015) [2]
  • Increase US$ 930 million (2016) [1]
  • US$ 712 million (2015) [2]
Total assets
  • Increase US$ 9.743 billion (2016) [1]
  • US$ 9.34 billion (2015) [2]
Total equity
  • Decrease US$ 2.541 billion (2016) [1]
  • US$ 2.66 billion (2015) [2]
Number of employees
23,000 (April 2017)[3]
Websitewww.fiserv.com

Fiserv, Inc. (/fˈsərv/) is a US provider of financial services technology. The company's clients include banks, thrifts, credit unions, securities broker dealers, leasing and finance companies, and retailers.[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 $5.51 billion in 2016.[1] In summer of 2018, Fiserv obtained the naming rights to the Fiserv Forum, home to the Milwaukee Bucks, for 25 years.[6]

History[edit]

Fiserv dates from July 31, 1984, from the merger of Sunshine State Systems, Inc. (Tampa, Florida) and First Data Processing (Milwaukee, Wisconsin).[7] In 1986, Fiserv went public as a $70 million data processing company.[8] Within years of becoming public, Fiserv was serving a number of financial institutions in the United States.[8] 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.[9]

Office in Hillsboro, Oregon, formerly headquarters of Corillian

Acquisitions and news[edit]

1991[edit]

1995[edit]

  • 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.[9]

1998[edit]

  • Fiserv reached $1 billion in revenue.[8]

2003[edit]

  • General American Corporation (GAC)

2005[edit]

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

2006[edit]

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

2007[edit]

  • NetEconomy.[10]
  • CheckFree — which had itself just acquired Corillian, Carreker, and Upstream Technologies LLC.[11] 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.[9]

2008[edit]

  • 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[12]
  • The Data Center — a Texas-based item processing company that had been owned by BBVA Compass Bank[13]

2010[edit]

2011[edit]

  • M-Com — established in 2000 and based in Auckland, New Zealand, M-Com developed mobile banking apps.[15]
  • Maverick Network Solutions — established in 2006 and based in Brandywine Hundred, Delaware.[16]
  • CashEdge — to payment solutions, including Popmoney.[17]

2013[edit]

  • Open Solutions, Inc. — account processing DNA platform. Fiserv paid $55 million to take on the DNA and took on $960 million in debt.[18][19]
  • Fiserv announced that it will offer Guardian Analytics products for its clients to secure online banking channels.[20]

2016[edit]

  • Community Financial Services — from ACI Worldwide.[21]
  • Convenience Pay — from Hewlett Packard.[22]

2017[edit]

2018[edit]

  • Fiserv purchases Elan processing from U.S. Bank.

References[edit]

  1. ^ a b c d e f "FISERV INC 2016 Annual Report Form (10-K)" (XBRL). United States Securities and Exchange Commission. February 23, 2017.
  2. ^ a b c d e "FISERV INC 2015 Annual Report Form (10-K)" (XBRL). United States Securities and Exchange Commission. February 19, 2016.
  3. ^ Bucher, Chris (April 26, 2017). "Fiserv undergoes evaluation Brookfield headquarters". Greater Milwaukee Today. Retrieved 2017-10-14.
  4. ^ "Profile: Fiserv Inc (FISV.O)". Reuters (U.S ed.). n.d. Retrieved March 23, 2016.
  5. ^ "Top 100 Companies in FinTech". American Banker. October 13, 2015. Retrieved March 23, 2016.
  6. ^ "Milwaukee Bucks and Fiserv Inc. strike 25-year naming rights deal for new downtown arena". Milwaukee Journal Sentinel. Retrieved 2018-07-27.
  7. ^ Silvers, Amy Rabideau (November 18, 2011). "Fascination with Computers Put Dalton on Path to Fiserv". Milwaukee Journal Sentinel. Retrieved March 23, 2016.
  8. ^ a b c Fiserv, Inc. (n.d.). "About Fiserv". Fiserv.com. Retrieved March 23, 2016.
  9. ^ a b c d Fiserv, Inc. (July 31, 2009). "Fiserv Celebrates 25th Anniversary by Remembering Founders and Serving Clients". Fiserv.com (Press release). Retrieved March 23, 2016.
  10. ^ "Fiserv Acquires Global Financial Crime Management Leader, NetEconomy". www.newswire.ca. Retrieved 2017-11-17.
  11. ^ "Corillian purchaser CheckFree bought by Fiserv". www.bizjournals.com. Retrieved 2017-11-17.
  12. ^ "First Interstate selling Billings-based company" KPAX.com. Retrieved 18 April 2009.
  13. ^ "Fiserv Acquires The Data Center from Compass Bank (NASDAQ:FISV)". investors.fiserv.com. Retrieved September 9, 2009.
  14. ^ "Fiserv acquires AdviceAmerica - BusinessWeek". businessweek.com. 2011. Retrieved 2 August 2011.
  15. ^ Cohen, Stessa (3 March 2011), With M-Com Deal, Fiserv Becomes Lead Vendor in Mobile Retail Banking (PDF), Gartner, retrieved 1 February 2013
  16. ^ Starkey, Jonathan (11 March 2011), "Delaware debit firm bought by Wis. company", Delaware Online, Gannett, OCLC 38962480, retrieved 12 March 2011
  17. ^ "Fiserv completes acquisition CashEdge", Yahoo! Finance, Yahoo!, 14 September 2011, retrieved 22 September 2011
  18. ^ "Fiserv Buys Open Solutions to Grow Financial Services", Bloomberg, Bloomberg, 15 January 2013, retrieved 15 January 2013
  19. ^ Camhi, Jonathan (January 15, 2013). "Fiserv Acquires Competitor Open Solutions". Retrieved March 23, 2016.
  20. ^ 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.
  21. ^ "Fiserv buying digital banking business from ACI Worldwide for $200 million", Milwaukee Business Journal, Milwaukee Business Journal, 21 January 2016, retrieved 24 October 2017
  22. ^ "Fiserv profit on sale business interest | BizTimes Media Milwaukee". BizTimes Media Milwaukee. 2016-05-06. Retrieved 2017-11-16.
  23. ^ "Fiserv Moves to Reinvent Payments Infrastructure with Acquisition Dovetail". www.businesswire.com. Retrieved 2017-11-16.
  24. ^ "Fiserv completes Monitise acquisition | BizTimes Media Milwaukee". BizTimes Media Milwaukee. 2017-09-01. Retrieved 2017-11-16.

External links[edit]