Profile: Fiserv Inc (FISV.O)
15 Oct 2018
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 the Financial Institution Services (Financial). The Payments segment provides electronic bill payment and presentment services, Internet and mobile banking software and services, person-to-person payment services, debit and credit card processing 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 services 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 digital consumer and business banking products are Architect, Corillian Online, Mobiliti and Corillian Business Online. Its Corillian product range supports various lines of banking businesses and has been designed to meet the evolving needs of its clients. This structure enables its clients to deploy new services by adding and integrating applications, such as electronic bill payment, person-to-person payments and personal financial management tools, to any Internet connected point-of-presence. Its Mobiliti product range provides a range of mobile banking and payments services to its clients and their customers, including balance inquiry, transaction history, bill payment, person-to-person payments and transfers, through mobile browser, downloadable application for smart phones and tablets, and text message. The Company also provides the services of Corillian Online and Mobiliti as an outsourced service, known as Corillian Online ASP and Mobiliti ASP. As of December 31, 2016, the Company had approximately 2,400 mobile banking clients. Architect provides a range of digital banking and payments solutions, including, which supports online, mobile and tablet banking for retail and small business customers on a single platform.
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. The Company provides financial institution clients with a range of credit and debit processing services, including automated teller machines (ATM) monitoring, tokenization, loyalty and reward programs, real-time person-to-person payments, customized authorization processing, direct access and settlement for networks, and risk management solutions. As of December 31, 2016, it owned and operated the Accel network, which served over 3,200 financial institutions with funds access at over 400,000 ATMs and incorporated CardFree Cash access, as well as Europay, Mastercard and Visa (EMV) chip and traditional magnetic stripe cards. Its Accel network point of sale support delivers coverage of personal identification number (PIN) and signature authentication support at physical and electronic commerce merchants across the country. Its digital enablement capability provides its clients' consumers with mobile-based, customizable card management and alert tools that drive engagement and revenue for its issuers, and its risk management tools and portfolio management services are integrated with real-time fraud decisioning.
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 institutions, and insurance providers. The Company acquired the Convenience Pay Services business of Hewlett Packard Enterprise Company, which enables providers to accept electronic payments from their consumers through multiple channels, thereby expanding its biller solution offerings. Consumers use its electronic billing and payment systems by viewing or paying a bill through a financial institution's bill payment application, use of a biller's Website, mobile application or automated phone system, www.mycheckfree.com, or by paying in person at one of more than 24,000 nationwide walk-in payment locations as of December 31, 2016. The Company can eliminate the operational complexity and expense of supporting multiple vendor systems or in-house developed systems.
The Company's 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 production and mailing; design and fulfillment of direct mail solutions; forms distribution; laser printing and mailing; branded merchandise, and office supplies. As of December 31, 2016, the Company's investment services business provided technology solutions that enable financial planning, portfolio management and trading, model management, performance measurement, and reporting products and services to approximately 300 financial service organizations, including broker dealers, registered investment advisors, banks, asset managers and insurance companies that deliver financial advice and managed account products to the United States retail investors. Its investment services business also supports global institutional asset managers and asset servicers with portfolio accounting, performance analytics, fee billing and revenue management, and post-trade processing technology. Its primary product, the Unified Wealth Platform, is a real-time portfolio management, trading and reporting system used by various brokerage firms and asset managers in the United States offering managed accounts, based on assets under management.
The Company's risk management solutions business provides financial and risk management products and services that deliver operating efficiencies and management insights. Its Enterprise Performance Management and Financial Control Solutions offerings include budgeting and planning, financial accounting, and automated reconciliation and account certification tools to facilitate an assessment environment and efficient close process for its clients. These solutions are further complemented by fraud detection and mitigation through its predictive analytics solution, Fraud Risk and Anti-Money Laundering Compliance Management.
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. In addition, it offers Agiliti as a software-as-a-service solution to the United Kingdom financial services industry.
The Company's item processing business offers products and services to financial institutions and intermediaries. Through the Fiserv Clearing Network, it provides a complete check clearing and image exchange services. Other solutions include image archive with online retrieval, in-clearings, exceptions and returns, statements and fraud detection. It also provides consulting services, business operations services and related software products that facilitate the transformation of its clients' check capture environments from paper-based to electronic.
The Company's lending business offers life-of-loan digital products and services to financial institutions and market intermediaries, including loan originations, servicing and default systems primarily for auto, consumer and real estate. In addition, its lending solutions include a complement of professional services, such as customization, business process outsourcing, training, consulting and implementation services. Other businesses in this segment provide solutions for ACH, cash and treasury management, case management and resolution, and source capture optimization to the financial services industry. Its offerings include Immediate Funds, PEP+, Integrated Currency Manager, Device Manager, CorPoint, and its remote deposit capture solutions branded as Source Capture 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, Q2 Holdings, Inc., 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, Wal-Mart Stores, Inc., 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