User:Kabursch/Fiserv, Inc.
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Fiserv, Inc.
 | |
| Company type | Public |
|---|---|
| Nasdaq: FISV S&P 500 Component | |
| Founded | 1984 |
| Revenue |  $ 4.3 billion (FY 2011)
[1] |
| $ 491 million (FY 2011)[1] | |
| $ 472 million (FY 2011)[1] | |
| Total assets | $ 8.5 billion (FY 2011)[1] |
| Total equity | $ 3.2 billion (FY 2011)[1] |
Number of employees | 20,000 (December 2011)[1] |
| Website | www |
Fiserv, Inc. (Nasdaq: FISV) is a global provider of financial services technology. 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.[2] Fiserv has been ranked the largest provider of information technology services to the financial services industry worldwide for six of the past eight years, giving up its position to Fidelity National Information Services in 2007 and 2011.[3] Fiserv reported total revenue of $4.3 billion in 2011.
History[edit]
On July 31, 1984, Sunshine State Systems, Inc., based in Tampa, Florida, and First Data Processing, based in Milwaukee, Wisconsin, combined to form Fiserv, Inc.[4]
In 1986, Fiserv went public as a $70 million data processor company.[5] Within fours years of becoming public, Fiserv was serving a number of large financial institutions in the United States.[5]
Starting in 1984, Fiserv grew significantly as a result of more than 150 acquisitions over a 25 year period. It began as a $21 million business with 350 employees and became a $4.7 billion business, Fortune 500 Company with 19,000+ employees by 2009. [6]
In 1991, Fiserv acquired Citicorp Information Resources, a subsidiary of Citicorp. This acquisition put Fiserv into the commercial bank, internal and credit union core account processing market space. [6] In 1995, Fiserv acquired Information Technology, Inc., (ITI), in Lincoln, Nebraska, expanding its number of account processing clients, and gaining the most widely implemented account processing platform in the United States, Premier. [6]
In 2007, Fiserv made its largest acquisition to date upon acquiring CheckFree Corporation, which was a global provider of financial electronic commerce based in Norcross, Georgia. At the time CheckFree Corporation was the leading provider of online banking, online bill pay and electronic bill payment services. [6]
In February of 2009, Fiserv announced a re-branding in which all business units became branded under one name: Fiserv. Previous to that each acquired company maintained its previous name and Fiserv functioned as an umbrella company. [6]
In June 2010, Fiserv acquired AdviceAmerica, the producer of software for financial institutions.[7].
In 2011, the company purchased CashEdge, a provider of online fund transfer services. [8]
Areas of Business[edit]
According to both the Reuters company profile and the Yahoo! Finance company profile for Fiserv, Fiserv provides products and services within these areas of business:[9] [10]
- Account Processing Systems
- Electronic Payments Processing Products and Services (Including, but not limited to, 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
- Document and Payment Card Production and Distribution,
- Check Processing and Imaging
- Source Capture Systems
- Lending Products and Services
- Risk Management Products and Services
References[edit]
- ^ a b c d e f Fiserv, Inc 2011 Annual Report, Form 10-K, Filing Date Feb 24, 2012
- ^ "Reuters Company Profile".
- ^ "Fintech Rankings".
- ^ "Fiserv Founder George Dalton Obituary, Milwaukee Journal Sentinel".
- ^ a b "Fiserv Corporate History, Retrieved 11/14/2009".
- ^ a b c d e "Fiserv Celebrates 25th Anniversary Press Release, Released July 31, 2009".
- ^ "Fiserv acquires AdviceAmerica - BusinessWeek". businessweek.com. 2011 [last update]. Retrieved 2 August 2011.
{{cite web}}: Check date values in:|year=(help) - ^ "Fiserv Completes Acquisition of CashEdge". businessweek.com. 2011 [last update]. Retrieved 3 July 2012.
{{cite web}}: Check date values in:|year=(help) - ^ "Reuters Fiserv Profile".
- ^ "Yahoo! Finance Fiserv Profile".
External links[edit]