One of the world’s principal payment and financial services technology providers announced today that it has entered into a formal agreement to purchase Finxact, Inc. Its cloud-native banking solution is driving digital transformation in the industry. As a result, Fiserv’s leading account processing, digital, and payments solutions will be expanded. The firm will be better positioned to engage with clients wishing to grow, expedite, and enhance their digital banking experiences. According to the deal, Fiserv will purchase the remaining stake in Finxact for $650 million.
What is Fiserv TeleCheck?
Fiserv TeleCheck is a wholly-owned subsidiary of Fiserv, Inc. It gives consumers access to their payment history, including good transactions, account misuse, poor maintenance, charge-offs, and fraud transactions.
Read more about ACE Cash Express and Telecheck.
A modern, real-time, and extendable banking system, Finxact enables financial organizations more access to their data. In addition, financial institutions of all sizes can benefit from Finxact’s contemporary APIs, which provide maximum flexibility and scalability for developing new products and digital capabilities. Financial institutions are using new, fast-growing digital technology worldwide, and Finxact will enable Fiserv to give customers a contemporary, flexible, and highly tailored digital banking experience.
Delivering innovative digital banking services faster improves our clients’ capacity to compete in a quickly evolving industry. Finxact’s extremely flexible and scalable API-first capabilities, extensive digital financial solutions portfolio, and Fiserv experience will help us serve our clients better. Through this combination, Fiserv will be able to provide a streamlined way for its clients to deliver digital solutions to their consumers. In addition, financial institutions and businesses alike will benefit from Finxact’s expanded capabilities. Fiserv and the outstanding Finxact team will be welcome additions to Fiserv as we strive to expand our client banking offerings.
They are confident that Finxact has the knowledge and transformational approach to help our customers significantly increase the agility of their digital banking operations and shorten the time it takes for new customer experiences to get to market. This fresh arrival to the Fiserv technology ecosystem will benefit any financial institution wishing to launch a digital brand, offer new products or services, or upgrade its core infrastructure.
After leaving Wells Fargo Bank in 2014, Daniel began a career as a finance consultant, advising companies and individuals on economic policy, labor relations, and financial management.
At Promtfinance.com, Daniel writes about personal finance topics, value estimation, budgeting strategies, retirement planning, and portfolio diversification.
Read more on Daniel Smith's biography page.
Contact Daniel: daniel@promtfinance.com