Profile: Fiserv Inc (FISV.O)
4 May 2016
Fiserv, Inc., incorporated on February 19, 1992, is a provider of financial services technology. The Company provides account processing systems; electronic payments processing products and services, such as electronic bill payment and presentment services, card-based transaction processing and network services, automated clearing house (ACH) transaction processing, account-to-account transfers, 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 Company operates through two segments: Payments and Industry Products (Payments) and Financial Institution Services (Financial). The Payments segment provides debit and credit card processing and services, electronic bill payment and presentment services, Internet and mobile banking software and services, person-to-person payment services, and other electronic payments software and services. The Financial segment provides banks, thrifts, credit unions, and leasing and finance companies with account processing services, item processing and source capture services, loan origination and servicing products, cash management and consulting services, and other products and services. The Company serves banks, thrifts, credit unions, investment management firms, leasing and finance companies, retailers, merchants, mutual savings banks and building societies.
Payments and Industry Products
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 and transaction service through digital channels. The Payments segment provides card and print personalization services, investment account processing services for separately managed accounts, and fraud and risk management products and services. Its solutions in the Payments segment include electronic payments, digital channels, card services, biller solutions, output solutions, investment services and risk management solutions.
The Company's electronic payments business comprises electronic bill payment and presentment services, and other electronic payment services for both businesses and consumers, such as person-to-person payments, account-to-account transfers, account opening and funding, and small business invoicing and payments. Its principal electronic bill payment and presentment product, CheckFree RXP, allows its clients' customers to manage household bills through online tool, to view billing and payment information, to pay and manage all of their bills in one place, for certain billers, to experience speed comparable to payment at a biller's site through same-day bill payment, and to make next-day payments to many of the companies with which they do business. Its person-to-person payments solution, Popmoney, allows consumers a way to send and receive money. Popmoney Instant Payments extends the functionality of the Popmoney personal payment service by providing real-time exchange of funds. Popmoney can be accessed through a Fiserv Website, www.popmoney.com, through Fiserv's mobile applications for iPhone and Android, or through the Websites and mobile banking applications of participating financial institutions.
The Company's online consumer and business banking products for financial institutions are Corillian Online and Corillian Business Online. Corillian Online and Corillian Business Online support multiple lines of banking businesses. It provides the services of Corillian Online as a licensed solution and in a hosted environment. Its Mobiliti product suite provides a range of mobile banking and payments services through a mobile or tablet device to its clients and their customers, including balance inquiry, transaction history, bill payment, person-to-person payments and transfers. It allows financial institutions to reach more consumers because it supports all mobile access modes: mobile browser, downloaded application for smart phones and tablets, and text message. The Company's card services business is engaged in electronic funds transfer and provides a total payments solution through a range of products and services. It offers automated teller machine (ATM) and point of sale personal identification number (PIN)-based debit transaction processing, signature debit processing, ATM processing, private label and bankcard credit card processing, electronic benefits transfer card, prepaid program management and processing, and national and regional network access. It owns the Accel network and process transactions conducted at approximately 21,000 ATMs. Its card services business has approximately 4,600 clients, including banks and credit unions of all asset sizes, finance companies, independent sales organizations and merchant acquirers across the United States.
The Company's biller business provides electronic billing and payment services to companies that deliver bills to their customer base, such as utilities, telephone and cable companies, consumer lending and insurance providers. Consumers use its electronic billing and payment systems by viewing or paying a bill through a financial institution's bill pay application, use of a biller's Website, mobile application or automated phone system, www.mycheckfree.com, or by paying in person at one of approximately 23,000 walk-in payment locations at retail stores operated by its client agents. Its output solutions business provides business communication solutions to clients across a range of industries, including financial services, healthcare, retail, utilities, and travel and entertainment. Its products and services include electronic document management through its 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's investment services business provides technology solutions, which provide financial planning, portfolio management and trading, models management, performance measurement, and reporting products and services to over 300 financial service organizations, including broker dealers, registered investment advisors, banks and insurance companies that deliver financial advice and managed account products to the United States retail investors. Its investment services business also supports institutional asset managers with portfolio accounting, performance analytics, fee billing and revenue management, and post-trade processing technology. Its fee-based wealth management clients are sponsors or managers that create or offer a range of managed account programs to the United States retail investors, including mutual fund advisory, separately managed accounts and unified managed accounts. Its primary product, the Unified Wealth Platform, is a real-time portfolio management, trading and reporting system used by the brokerage firms, based on assets under management, and the asset managers in the United States offering managed accounts. Its risk management solutions business provides financial and risk management products and services that deliver a user experience, operating efficiencies and management insight. Its risk management solutions consist of Enterprise Performance Management, Financial Crime Risk Management and Financial Control Solutions.
The Company competes with ACI Worldwide, Inc., Fidelity National Information Services, Inc., First Data Corporation, Jack Henry and Associates Inc., MasterCard Incorporated, NCR Corporation, Total System Services, Inc., Vantiv, Inc., Visa Inc., The Western Union Company, Alphabet Inc., Amazon.com, Inc., Apple Inc., Facebook, Inc., Intuit Inc., PayPal Holdings, Inc., Samsung Group, Starbucks Corporation and Wal-Mart Stores, Inc.
Financial Institution Services
The Company's Financial segment provides financial institutions with the products and services they need to run their operations. Many of the products and services that it sells are integrated with solutions from its Payments segment, such as electronic bill payment and presentment, Internet and mobile banking, debit processing and network services, and person-to-person payments. Its solutions in the Financial segment include account processing, item processing, and lending and other solutions. The Company provides account servicing and management technology solutions to its bank, thrift and credit union clients, as well as a range of banking products and services. Account processing solutions are the systems that provide a financial institution to operate systems that process customer deposit and loan accounts, an institution's general ledger, 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. The principal account processing solutions used by its bank and thrift clients are Cleartouch, DNA, Precision, Premier, Signature and TotalPlus. The principal account processing solutions used by its credit union clients are Advantage, Charlotte, CubicsPlus, CUnify, CUSA, DataSafe, DNA, Galaxy, OnCU, Portico, Reliance, Spectrum and XP2. The Signature and DNA systems are available both domestically and internationally. Account processing solutions are generally offered as an outsourced service or as licensed software for installation on client-owned or hosted computer systems.
The Company's item processing business offers products and services to financial institutions and intermediaries. Through the Fiserv Clearing Network, it provides check clearing and image exchange services. Other solutions include image archive with online retrieval, in-clearings, exceptions and returns, statements and fraud detection. It 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 life-of-loan products and services to financial institutions and intermediaries, including loan originations, servicing and default systems primarily for auto, consumer and real estate. In addition, its lending solutions include a range of services, such as customization, business process outsourcing, education, consulting and implementation services. Other businesses in the Financial segment provide solutions for ACH, treasury management, case management and resolution, source capture optimization, and enterprise cash and content management to the financial services industry. Its offerings include PEP+, Integrated Currency Manager, Device Manager, CorPoint, LoanComplete, Titan, Director and its remote deposit capture solutions branded as Source Capture Solutions.
The Company competes with Computer Services, Inc., DH Corporation, FIS, Infosys Ltd., International Business Machines Corporation, Jack Henry, Oracle Corporation, SAP SE and Temenos Group AG.
255 FISERV DR,
PO Box 979
BROOKFIELD WI 53045-5815
Company Web Links
- BRIEF-Fiserv CEO's 2015 total compensation was $10 mln vs $8.3 mln in 2014 - SEC Filing
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