Fiserv, Inc. is a global provider of financial services technology. The company's clients include banks, thrifts, credit unions, securities broker dealers, leasing and finance companies, and retailers. In October 2015, American Banker and BAI ranked the company third by revenue among technology providers to U.S. banks. Fiserv reported total revenue of $10.187 billion in 2019. In summer of 2018, Fiserv obtained the naming rights to the Fiserv Forum, home to the Milwaukee Bucks, for 25 years. Fiserv ranks 139th out of the 331 companies named to Fortune's 2020 'World's Most Admired Companies' list, the seventh consecutive year it has been on that list, and 10th time in the last 12 years.
History
Fiserv dates from July 31, 1984, from the merger of Sunshine State Systems, Inc. and First Data Processing. In 1986, Fiserv went public as a $70 million data processing company. Within years of becoming public, Fiserv was serving a number of financial institutions in the United States. 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.
Information Technology, Inc., — 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.
CheckFree — which had itself just acquired Corillian, Carreker, and Upstream Technologies LLC. 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 processing.
2008
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
The Data Center — a Texas-based item processing company that had been owned by BBVA Compass Bank
2010
AdviceAmerica — software for financial institutions.
Fiserv purchases the debit card processing, ATM Managed Services and MoneyPass surcharge-free network services of Elan Financial Services, a unit of U.S. Bancorp.
2019
Fiserv said it will buy payment processor First Data in a $22 billion deal, making it one of the largest acquisitions in the financial technology sector. The all-stock deal is at a premium of nearly 30 percent over First Data's closing price. First Data shares rose 17.1 percent to $20.55 in early trading, while Fiserv shares fell 5.4 percent to $71. Fiserv shareholders will own 57.5 percent of the combined company and First Data shareholders will own 42.5 percent. Fiserv offered 0.303 of its shares for each First Data share. Fiserv Chief Executive Officer Jeffery Yabuki will become CEO and chairman of the combined company. After the deal closes in the second half of 2019, the combined company's adjusted earnings per share is expected increase by more than 20 percent in the first full year, the companies said. J.P. Morgan Securities was the financial adviser to Fiserv and Bank of America Merrill Lynch for First Data.
Fiserv completed the acquisition of First Data on Monday July 29, 2019.
2020
Fiserv completed the acquisition of Bypass Mobile.
