Profile: Fiserv Inc (FISV.O)

FISV.O on Nasdaq

19 Dec 2014
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Fiserv, Inc. (Fiserv), incorporated on February 19, 1992, is a global provider of financial services technology. The Company serves approximately 16,000 clients worldwide, including banks, thrifts, credit unions, investment management firms, leasing and finance companies, retailers, merchants and government agencies. The Company provides account processing systems; electronic payments processing products and services , such as electronic bills payment and presentment, card-based transaction processing and network services, ACH transaction processing, account-to-account transfer products and person-to-person payments; Internet and mobile banking systems, and related services including document and payment card production and distribution, check processing and imaging, source capture systems, and lending and risk management products and services.

The majority of the services the Company provides are necessary for its clients to operates their business and are, therefore, non-discretionary in nature. The Company also owns a 49% interest in StoneRiver Group, L.P. (StoneRiver), which consists of its former insurance services businesses. The Company's operations are reported in the Payments and Industry Products (Payments) and Financial Institution Services (Financial) business segments.


The businesses in the Company's Payments segment provide financial institutions and other companies with the products and services required to process electronic payment transactions and to offer their customers access to financial services through digital channels. Financial institutions and other companies have increasingly relied on third-party providers for those products and services, either on a licensed software or outsourced basis, as an increasing number of payment transactions are completed electronically and as the Company's clients' customers seek the convenience of 24-hour digital access to their financial accounts.

The Company's businesses in this segment also provide investment account processing services for separately managed accounts, card and print personalization services, and fraud and risk management products and services. The Company's electronic banking business is comprised of electronic bill payment and presentment services, biller services, digital channel services, and other electronic payments services such as person-to-person payments and account-to-account transfers. The Company's principal electronic bill payment and presentment product, CheckFree RXP, allows the Company's clients' customers: to manage household bills via an easy-to-use, online tool; to view billing and payment information; to pay and manage all of their bills in one place; to experience the speed of payment they might have at a biller's site; and to make convenient next-day payments to many of the companies with which they do business. The Company uses its systems to process the majority of the payment transactions that the Company handles, which enables the Company to improve its economies of scale.

The Company's biller business provides electronic billing and payment services to companies that deliver substantial volumes of bills to their customer base, such as utilities, telephone and cable companies, and insurance providers, enabling the Company's biller clients to reduce costs, collect payments faster, and provide customers flexible, easy-to-use ways to view and pay their bills. The Company's principal online consumer and business banking products for larger financial institutions are Corillian Online and Corillian Business Online. Both built on the Corillian platforms, these software applications support multiple lines of banking businesses.

The Company's Mobiliti product provides a variety of mobile banking and payments services, including balance inquiry, transaction history, bill payment, person-to-person payments and transfers through a mobile device to the Company's clients and their customers. It enables financial institutions to reach more consumers than via other mobile technologies because it supports all three mobile access modes: mobile browser, downloaded application for smart phones and tablets, and text message.

The Company's card services provides electronic funds transfer and provides a total payments solution through a variety of products and services. The Company offers ATM and point of sale PIN-based debits transaction processing, signature debit processing, ATM driving and monitoring, private label and bankcard credit card processing, electronic benefits transfer switching, prepaid program development and management, and national and regional network access. The Company owns the ACCEL/Exchange network and drive approximately 21,000 ATMs. Comprehensive integration with the Company's account processing products and services allows the Company to reduce costs and increase efficiencies for its clients through enterprise offerings in areas such as risk management and loyalty rewards. The Company's card services business has more than 4,300 clients, including banks and credit unions of all asset sizes, resellers, finance companies, independent sales organizations and merchant acquirers across the U.S. During the year ended December 31,2012, the Company processed more than 11 billion debit and credit transactions.

The Company's output solutions business provides clients with: electronic document management through the Company's electronic document delivery products and services; card manufacturing, personalization and mailing; statement and coupon book production and mailing; design and fulfillment of direct mail solutions; forms distribution; laser printing and mailing; branded merchandise; and office supplies.

The Company provides products and services to over 325 financial service organizations, including brokers dealers, global asset managers, investment advisors, banks and insurance companies delivering financial planning, portfolio management, enhanced trading capabilities, models management, performance measurement, reporting services, billing, and post-trade processing automation. The Company also support global institutional asset managers and asset servicers which manage investments of institutions and high-net worth individuals. The Company's primary product is a real-time portfolio management and trading system used by nine of the top ten brokerage firms, based on assets under management, and each of the top ten asset managers offering managed accounts. The Company's platform was used for more than 3.8 million accounts as of December 31, 2012.


The businesses in the Company's Financial segment provide financial institutions with the products and services they need to run their operations. Many financial institutions that previously developed their own software systems and maintained their own data processing operations license software from third-parties or outsource their data processing requirements by contracting with third-party processors. This has allowed them to reduce costs and enhance their products, services, capacity and capabilities. The licensing of software reduces the need for costly technical expertise within a financial institution, and outsourcing through the utilization of service bureaus or resource management capabilities reduces the infrastructure and other costs required to operate systems internally. Within the Financial segment, the Company provides banks , thrifts and credit unions with accounts processing services, item processing and source capture services, loan origination and servicing products, cash management and consulting services, and other products and services that support numerous types of financial transactions.

The Company provides account servicing and management capabilities to its bank, thrift and credit union clients, as well as a complete range of integrated, value-added banking products and services. Account processing solutions are the principal systems that enable a financial institution to operate and include systems that process customer deposit and loan accounts, an institution's general ledgers, central information files and other financial information. These solutions also include security, report generation and other features that financial institutions need to process transactions for their customers, as well as to comply with applicable regulations. Account processing solutions are offered through online data transmission connections to the Company's account processing centers, historically called data centers or service bureaus, as stand-alone licensed software for installation on client-owned computer systems, or via some combination of both.

The Company supports a broad range of terminals and other client-owned peripheral devices manufactured by a variety of vendors, which reduces a new client's initial conversion expenses, enhances existing clients' ability to change equipment, and broadens its market. The principal account processing solutions used by the Company's bank and thrift clients are Cleartouch, Precision, Premier, Signature and TotalPlusTM. The Signature system is available both domestically and internationally. The principal account processing solutions primarily used by the Company's credit union clients are Acumen, AdvantageTM, CharlotteSM, CubicsPlus, CUnifyTM, CUSA, DataSafe, Galaxy, OnCU, Portico, Reliance, Spectrum and XP2. In connection with the acquisition of Open Solutions, the Company also acquired an account processing platform, DNA, which is a real-time account processing platform that serves banks, thrifts and credit unions.

The Company's item processing business offers products and services to financial institutions and intermediaries. Through the Fiserv Clearing Network, the Company provides complete check clearing and image exchanges services. Other solutions include image archive with online retrieval, in-clearings, exceptions and returns, statements and fraud detection. The Company also provides consulting services, business operations services and related software products that facilitate the transformation of its clients' payments environments from paper-based to electronic.

The Company's lending business offers products and services to financial institutions and intermediaries, including: loan originations, servicing and default systems for auto, consumer, real estate and business lending; along with a full complement of services such as customization, business process outsourcing, education, and consulting and implementation services. The Company's global payment solutions business provides solutions for ACH, treasury management, check capture, case management and resolution, float management, and enterprise content management to the financial services industry. The Company's remote deposit capture solutions are branded as Source Capture Solutions and are offered on a common Web platform.

The Company competes with Fidelity National Information Services, Inc. (FIS), Jack Henry and Associates, Inc. (Jack Henry), Online Resources Corporation, Western Union, First Data Corporation, Total System Services, Inc., MasterCard Incorporated, Visa, Inc. and Harland Financial Solutions, Inc.

Company Address

Fiserv Inc

PO Box 979
P: +1414.8795000

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