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| foundation = 1984
| foundation = 1984
| location = [[Brookfield, Wisconsin|Brookfield]], [[Wisconsin]], [[United States|U.S.]]
| location = [[Brookfield, Wisconsin|Brookfield]], [[Wisconsin]], [[United States|U.S.]]
| revenue = {{nowrap|{{increase}} [[United States Dollar|$]] 4.3 billion <small>(FY 2011)</small>
<ref name="Fiserv, Inc-2011-10-K">{{cite web|url=http://pdf.secdatabase.com/1100/0001193125-12-077375.pdf|title=Fiserv, Inc 2011 Annual Report, Form 10-K, Filing Date Feb 24, 2012 |publisher=secdatabase.com |accessdate =June 8, 2012}}</ref>}}
|operating_income={{increase}} [[United States Dollar|$]] 491 million <small>(FY 2011)</small><ref name="Fiserv, Inc-2011-10-K"/>
|net_income={{increase}} [[United States Dollar|$]] 472 million <small>(FY 2011)</small><ref name="Fiserv, Inc-2011-10-K"/>
|assets={{increase}} [[United States Dollar|$]] 8.5 billion <small>(FY 2011)</small><ref name="Fiserv, Inc-2011-10-K"/>
|equity={{increase[[United States Dollar|$]] 3.2 billion <small>(FY 2011)</small><ref name="Fiserv, Inc-2011-10-K"/>
|num_employees = 20,000 <small>(December 2011)</small><ref name="Fiserv, Inc-2011-10-K"/>
| key_people = Donald F. Dillon, Chairman<br />Jeffery W. Yabuki, President and CEO<br />Thomas Hirsch, CFO<br />Charles Sprague, Legal<br />
| key_people = Donald F. Dillon, Chairman<br />Jeffery W. Yabuki, President and CEO<br />Thomas Hirsch, CFO<br />Charles Sprague, Legal<br />
| homepage = [http://www.fiserv.com/default.htm www.fiserv.com]
| homepage = [http://www.fiserv.com/default.htm www.fiserv.com]

Revision as of 08:40, 30 June 2012

{{Infobox company | company_name = Fiserv, Inc. | company_logo = | company_type = Public | traded_as = Nasdaq: FISV
S&P 500 Component | foundation = 1984 | location = Brookfield, Wisconsin, U.S. | revenue = Increase $ 4.3 billion (FY 2011) [1] |operating_income=Increase $ 491 million (FY 2011)[1] |net_income=Increase $ 472 million (FY 2011)[1] |assets=Increase $ 8.5 billion (FY 2011)[1] |equity={{increase$ 3.2 billion (FY 2011)[1] |num_employees = 20,000 (December 2011)[1] | key_people = Donald F. Dillon, Chairman
Jeffery W. Yabuki, President and CEO
Thomas Hirsch, CFO
Charles Sprague, Legal
| homepage = www.fiserv.com }}

Fiserv, Inc. (Nasdaq: FISV) is a global provider of financial services technology. It provides account processing systems, electronic payments processing products and services, such as electronic bill payment and presentment, card-based transaction processing and network services, automated clearing house (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.[2] The company serves more than 16,000 clients worldwide, including banks, thrifts, credit unions, investment management firms, leasing and finance companies, retailers, merchants and government agencies.[3] As of 2011, Fiserv is ranked second on the list of the largest providers of information technology services to the financial services industry worldwide.[4] Fiserv reported total revenue of $4.3 billion in 2011.

History

Fiserv began as a provider of financial service data processing for small banks and thrifts. In 1986, Fiserv went public as a $70 million regional processor,[5] adding credit union services with the 1988 acquisition of Minnesota On-Line, Inc.[5] Within four years, Fiserv was serving some of the largest financial institutions in United States of America.[5]

In 1990, Fiserv expanded its electronic funds capabilities through the acquisition of California-based GTE EFT Services Money Network and GTE ATM Networks.[5] Fiserv entered the card fulfillment market in 1992 through Indianapolis-based Data Holdings, Inc.[5] In 2007, Fiserv acquired CheckFree Corporation, their largest acquisition to date.[5]

In June 2010, Fiserv acquired AdviceAmerica, the producer of software for financial institutions.[6]. In 2011, the company purchased CashEdge.

Corporate structure

Fiserv has nine business groups that specialize in solutions for many financial industry sectors:

ePayments – Outsourced (service bureau) core processing systems, EFT processing, credit processing services, electronic bill payment services and value-added solutions for banks and thrifts.

Lending Solutions – Outsourced and licensed software and services for the lending industry, including mortgage loan servicing, automated property valuation, loan and lease portfolio management for the auto finance market, loan settlement support and contact center services.

Item Processing – Complete solution for the item and image processing needs of financial institutions, providing resources and technology for processing and automating paper-based payment transactions.

Credit Union & Industry Products – Core account processing and value-added solutions for credit unions, plastic card production and services, high-volume laser printing and mailing, electronic document distribution and archival.

Health Solutions – Outsourced services for self-funded and other medical, dental,vision and disability plans, including health plan administration, care and disease management, and pharmacy benefit management. Sale of this division to UnitedHealth Group (pending close) was announced 11/2/2007.[7]

Investment Support Services – Outsourced services for individual and business retirement plans, trustee, custodial and recordkeeping, back-office investment support and tax reporting. Sale of this division to TD Ameritrade Online Holdings, Inc. on May 24, 2007 and closed on February 4, 2008.[8]

Fiserv Global Services – Global delivery capabilities provided to Fiserv Business Units and clients in a range of technology and processing disciplines. Fiserv India Pvt. Ltd. is the fully owned Indian subsidiary of Fiserv Global Services.

Acquisitions

2011

  • Maverick Network Solutions — Maverick was established in 2006 and was based in Brandywine Hundred, Delaware; acquisition by Fiserv was in March 2011 for an undisclosed sum and did not include personnel changes at Maverick.[9]
  • CashEdge; acquisition by Fiserv was completed in September 2011.[10]

2008

2007

2006

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

2005

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

References

  1. ^ a b c d e f "Fiserv, Inc 2011 Annual Report, Form 10-K, Filing Date Feb 24, 2012" (PDF). secdatabase.com. Retrieved June 8, 2012.
  2. ^ http://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=FISV.O
  3. ^ "Fiserv Corporate Profile, Retrieved 11/14/2009".
  4. ^ "Fintech Rankings".
  5. ^ a b c d e f "Fiserv Corporate History, Retrieved 11/14/2009".
  6. ^ "Fiserv acquires AdviceAmerica - BusinessWeek". businessweek.com. 2011 [last update]. Retrieved 2 August 2011. {{cite web}}: Check date values in: |year= (help)CS1 maint: year (link)
  7. ^ Fiserv Agrees to Sell Health Businesses to UnitedHealthcare
  8. ^ Fiserv ISS Announcement
  9. ^ Starkey, Jonathan (11 March 2011), "Delaware debit card firm bought by Wis. company", Delaware Online, Gannett, OCLC 38962480, retrieved 12 March 2011{{citation}}: CS1 maint: date and year (link)
  10. ^ "Fiserv completes acquisition of CashEdge", Yahoo! Finance, Yahoo!, 14 September 2011, retrieved 22 September 2011{{citation}}: CS1 maint: date and year (link)
  11. ^ "First Interstate selling Billings-based company" KPAX.com. Retrieved 18 April 2009.
  12. ^ [1]. Retrieved 9 September 2009.
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