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Since beginning in 1984, Fiserv (NASDAQ:FISV) has grown through its insistence on finding exactly the right resources to meet clients’ strategic and day-to-day technology needs—developing industry-specific solutions, establishing key business partnerships, and acquiring entrepreneurial companies at the cutting edge.
The company began when two large regional providers of financial services data processing for small banks and thrifts, Sunshine State Systems of Tampa and First Data Processing of Milwaukee, joined to form the first large national financial services company. Fiserv was the first to launch the national data processing concept and has since turned it into an international corporation. In 1986, Fiserv went public as a $70 million data processor, adding credit union services with its 1988 acquisition of Minnesota On-Line, Inc. Within four years, Fiserv was serving some of the nation’s largest financial institutions.
As financial service organizations’ needs grew, so did Fiserv’s array of solutions—and its pattern of strong acquisitions. The team sought out profitable, well-run companies whose managers were willing to carry on their good work with a high degree of autonomy and the support of Fiserv resources.
In 1990 Fiserv expanded its electronic funds capabilities through the acquisition of California-based GTE EFT Services Money Network and GTE ATM Networks. Fiserv entered the card fulfillment market in 1992 through Indianapolis-based Data Holdings, Inc. In 1997 the company added securities transaction processing services with BHC Financial, Inc., of Pennsylvania.
Fiserv has blazed trails into new markets, entering the insurance industry with the 1998 acquisition of Iowa’s Network Data Processing Corp. In 2001 the company acquired Texas-based Benefit Planners, thereby entering the health benefits market.
With each step forward the Fiserv team has focused on generating the solutions that matter to clients. Today, as a Fortune 500 multi-billion dollar global corporation, Fiserv offers clients an unmatched array of information management solutions built on a foundation of service-oriented architecture and supported by the highest-quality client service.
The Fiserv growth strategy continues to center on delivering solutions to help clients meet their changing needs, expand their markets, and overcome technological challenges. In short, Fiserv’s history and future is about connecting clients with success and helping them to achieve best-in-class status. Now serving more than 18,000 clients worldwide, Fiserv is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2004, 2005 and 2006 Fin Tech 100 surveys.
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