Fiserv

An American multinational company that provides financial technology services.

Categories

Financial and Banking  

#207

Rank

$70.52B

MarketCap US

US United States

Country

Summary

Fiserv is a provider of technology solutions to the financial services industry. Fiserv is a global organization with more than 13,000 clients and 21,000 associates worldwide and takes pride in its mission to enable clients to achieve best-in-class results. The company is highly regarded for its financial services technology and services innovation, including award-winning solutions for mobile and online banking, payments, risk management, data analytics and core account processing. Fiserv is helping its clients push the boundaries of what's possible in financial services, delivering deep expertise and innovative solutions to help financial institutions, businesses and consumers move and manage money faster and with greater ease than ever before.


History

1984: Since 1984, Fiserv has existed to help people move money and information. Fiserv was founded in 1984.

1986: Indeed, as a result new technologies, tax laws (such as the Tax Reform Act of 1986), increased competition, an easing of interstate banking regulations, and other factors, prospective Fiserv customers were increasingly seeking reduced costs associated with centralized, automated data processing. A share of Fiserv stock valued at $2.74 in 1986 had increased in value nearly 20 times to $52.68. To finance Fiserv’s strategy of purchasing companies with cash, rather than debt, the company began selling shares publicly in 1986.

1989: Weier, Anita, “Muma’s Marathon Pace Keeps Fiserv on Growth Track,” Business Journal of Milwaukee, November 20, 1989, Sec.

1990: Although the company had targeted smaller and mid-size companies prior to 1990, it began serving several customers with sales of $1 billion-plus in the early 1990s. Also a hard worker, Dalton filled his free hours by cruising on his 1990 Harley-Davidson motorcycle. 1990: Fiserv Expands Electronic Funds Capabilities California-based GTE EFT Services Money Network and GTE ATM Networks provide Fiserv the ability to expand our client solution portfolio, offering electronic funds capabilities.

1991: By 1991, Fiserv was serving more than 1,400 banks, savings and loans, and credit unions of all sizes.

1992: To accomplish this feat, they were forced to surrender 89 percent of the equity in their venture to the financiers. 'Eleven percent of something is worth more than 100 percent of nothing,' noted Dalton in an April 1992 issue of Forbes.

1993: Dries, Michael, “Shades of CEO: Heart and Soul—How Who They Are Plays a Role in How they Lead: George Dalton,” Business Journal of Milwaukee, March 27, 1993, Sec. Elliot, Suzanne, “Fiserv Plans Move to Cheaper Offices for Ex-Mellon Subs,” Pittsburgh Business Times & Journal, August 16, 1993, Sec. Most notable during 1993, however, was Fiserv’s addition of its largest buyout ever, Basis Information Technologies, Inc., which added 1,000 new workers to the Fiserv’s payroll.

1994: Fiserv, whose income was up another 25 percent to $51 million in 1994, was there to benefit from the intensified interest in outsourcing.

1995: Fiserv signs strategic alliances with Chase Manhattan bank and with State Street Bank in Boston.

1996: While the Chase contract ended when the bank merged a short while later with Chemical Bank, Fiserv rebounded by landing a ten-year $1.6 billion deal to handle back-office processing for two leading Canadian banks in 1996.

1997: Six of the company's ten acquisitions in 1997 were related to the brokerage industry, ranging from a deep-discount brokerage house to a manufacturer of software that enabled customers to enter trade orders via the Internet or touch-tone phone.

1998: To complement its new strategy, Fiserv implemented a national television advertising campaign, a branding effort making use of the tag line 'Where money and technology meet.' Another part of Fiserv's branding effort was its own company Web site launched in December 1998. Moreover, in 1998, it signed on to a five-year contract with First Federal of California.

1999: In 1999, Fiserv launched a subscription Internet service called ePrime@Fiserv, which bundled online banking, bill payment, investment and insurance products, cash management automation, back-office processing, and core-account processing into one solution. With 400 customers in 60 countries in late 1999, Fiserv began looking to expand overseas at the turn of the century. In addition, the privatization of banks in foreign countries and the European Union's conversion to a single currency in 1999, had opened new doors for data processing companies. 1999: Dalton retires and Muma becomes CEO.

2009: 2009: Fiserv Launches One Name, One Brand Our mission is to provide integrated technology and services solutions that enable best-in-class results for our clients.

2020: In 2020, Yabuki stepped down as CEO and was replaced by Frank Bisignano.

2022: "Fiserv Inc. ." International Directory of Company Histories. . Retrieved June 21, 2022 from Encyclopedia.com: https://www.encyclopedia.com/books/politics-and-business-magazines/fiserv-inc


Mission

According to Fiserv, the company mission is: "to deliver superior value for clients through leading technology, targeted innovation and excellence in everything the company can do".


Vision

According to Fiserv, the company vision is: “to move money and information in a way that moves the world".


Key Team

George Dalton (Founder)

Leslie Muma (Founder)

Steve Cotton (Founder)

Robert W. Hau (Chief Financial Officer)

Alison Davis (Board Member)

Guy Chiarello (COO)

Valueact Capital Management Lp (Board Member)

Adam L. Rosman (Chief Legal & Administrative Officer)

Doyle R. Simons (Board Member)


Recognition and Awards
Fortune 500, Fortune: Most Admired Companies

References
Fiserv
Leadership team

Curry Pelot (Founder)

Dale Jensen (Founder)

Industries

Financial and Banking

Products/ Services
financial solutions
Number of Employees
20,000 - 50,000
Headquarters
Brookfield, Wisconsin, U.S.
Established
1984
Company Type
Public Limited Company
Company Registration
SEC CIK number: 0000798354
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
FISV
Social Media

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