Fiserv Strengths, Domain Expertise, and Key Differentiators
Fiserv has confronted the changes wrought by the COVID-19 pandemic by expanding far beyond its core focus on financial institutions. A digital-first mindset has become crucial for all businesses to satisfy customer expectations, and Fiserv has delivered for businesses by expanding the capabilities of its Carat omnichannel commerce platform and its Clover® point-of-sale (POS) system. The latter in particular has made Fiserv a key player in the rapidly changing restaurant industry, where owners need tech solutions that integrate all digital processes in one system, and customers expect a seamless digital ordering and payment experience. Nevertheless, Fiserv continued to break new ground in financial services by providing enterprise apps for cryptocurrency transactions and data sharing, payments to digital wallets, and credit card issuance overseas.
One of the stalwarts in the banking sector, Fiserv continues to sell applications such as core back-office systems for banks and credit unions. But in recent years it has been increasingly focusing on selling complete end-to-end integrated solutions for risk management to financial institutions. That covers financial risk management tools for measuring and managing interest rate risk and simulating accruals, cash flows and defaults for all instruments. For treasury management, Fiserv offers straight-through processing solutions for users to manage their treasury, trading and core processing operations with a single system that it remarkets from SunGard.
Fiserv Recent Developments
In August, Fiserv upgraded its omnichannel commerce solution Carat to let businesses make branded digital payouts to PayPal and Venmo accounts, thus aligning with the increased use of digital wallets. In September, Fiserv began a first-of-its-kind collaboration with National Payments Corporation of India (NPCI) to enable the launch of ‘nFiNi’, a ready stack of services that fintechs and banks can use to issue RuPay credit cards. In November, Fiserv introduced Clover Online Ordering with Delivery. It also launched Enteract, a new cloud-based customer relationship management platform for financial institutions.
Fiserv Mergers and Acquisitions (M&A) Activities
In October 2021, Fiserv signed an agreement to acquire restaurant e-commerce platform BentoBox to integrate its technology with the Clover® point-of-sale (POS) system.
In January, 2021, Fiserv, acquired Ondot Systems, Inc., a digital experience platform provider for financial institutions.
In December 2020, Fiserv completed its acquisition of the Ondot digital experience platform for financial institutions. In March 2021, Fiserv signed an agreement to acquire payment processor Pineapple Payments.
Earlier, in January, 2019 Fiserv purchased First Data for $22 billion in an all-stock transaction. Later the same year First Data was merged with Fiserv. The combination offers leading technology capabilities that enable a range of payments and financial services, including account processing and digital banking solutions; card issuer processing and network services; e-commerce; integrated payments; and the Clover cloud-based point-of-sale solution.
Fiserv Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Fiserv applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Fiserv and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Fiserv Cloud for Core Banking, customers.
Fiserv Overview
Ownership: - NASDAQ: FISV
Number of Employees: 44000
Functional Markets: Content Management, CRM, eCommerce, ERP Financial, ERP Services and Operations Management, TRM,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, Construction, Real Estate, Consumer Packaged Goods, Distribution, K14, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Faith-Based Nonprofit, Youth and Elderly Care, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
Fiserv Key Enterprise and Cloud Applications
Fiserv Cloud for Core Banking,
Fiserv Revenues, $M:
| Type/Year | 2020 | 2021 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Fiserv Revenue Breakdown By Type, $M:
| Type | License | Prof. Services | Hardware | Support & Maintenance | SaaS | PaaS | IaaS | Other (Non Enterprise Application Revenues) | Total |
|---|---|---|---|---|---|---|---|---|---|
| % of Total Revenues | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | 100% |
| Revenues, $M | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe |
Fiserv Enterprise Applications Revenues By Functional Markets, $M:
Fiserv Enterprise Applications Revenues By Verticals, $M:
Fiserv Revenues By Region, $M
| Region | % of Total Revenues | 2021 Total Revenues, $M | 2021 Enterprise Applications Revenues, $M | 2021 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Fiserv Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Fiserv Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Fiserv Customers
No. of Fiserv Customers: 12000
No. of Fiserv Enterprise Applications Customers: x
No. of Fiserv Cloud Customers: x
No. of Fiserv Cloud Subscribers: x
With more than 12,000 customers in the vertical, Fiserv has built a sizable following among large and small financial institutions. Fiserv now serves thousands of financial institutions and millions of businesses of all sizes worldwide, through its Carat and Clover systems. Recent customer acquisitions include Valley Bank, Republic Bank, Citizens’ Bank & Trust, New York Community Bank, State Farm, Central 1 Credit Union (Canada), Selecta Group (Europe), Caixa (Brazil), Nest Bank (Poland), and the Chelsea Football Club (London, UK).
Fiserv Market Opportunities, M&A and Geo Expansions
In December 2020, Fiserv announced that American Family Insurance would start accepting payments through Fiserv’s nationwide network of 30,000 CheckFreePay locations. In April 2021, Fiserv signed a 20-year agreement with Caixa Economia Federal to allow merchants in Brazil to accept payments through Fiserv. In June, Fiserv announced a partnership with Deutsche Bank for several forms of payment acceptance in Germany, including through Clover. In August, Fiserv announced the direct integration of the Clover point-of-sale (POS) system with the Grubhub third-party restaurant delivery app. In October, Fiserv partnered with the Bakkt digital asset platform to facilitate B2B and B2C payouts and other everyday transactions using cryptocurrency.
In April 2020, Deluxe, a Trusted Business Technology company, and Fiserv entered into a new relationship to bring merchant services to Deluxe small business customers. Deluxe customers will have access to the market-leading Clover point-of-sale platform, robust physical and online payment processing capabilities, gift card services and much more. Deluxe Merchant Services, powered by Fiserv, is a natural extension to the existing Deluxe portfolio, which enables customers to make outbound payments. Now with this Fiserv technology, Deluxe can help customers accept payments, offering an end-to-end payables and receivables solution.
Fiserv Risks and Challenges
Fiserv management has been keenly aware of the negative impacts of the COVID-19 pandemic. Of particular concern are increased chargeback risks as merchants go out of business and fail to fulfill orders, client nonpayment risks, increased risk of cyber payment fraud, supply chain disruptions and shortages, government shutdowns of corporate operations, and health risks to employees. Brexit and tariffs are also areas of concern.
Fiserv's risk management offerings are grouped under its payments segment, representing about 10% of the division's $2.1 billion in 2011 revenues. The Treasury Management product, which is basically a remarketed product from SunGard, is grouped under account processing division of Fiserv, which in itself represents close to 75% of the $2 billion. All told Fiserv's TRM offerings that are consistent with the Apps Run Treasury taxonomy amount to just a sliver of Fiserv's $4 billion in company revenues.
While Fiserv continues to focus on payments technologies primarily Checkfree and account processing functions such as account to account transfer and fraud management, TRM is positioned more like an add-on, rather than its core competency. The 2013 acquisition of Open Solutions, which resulted in Fiserv picking up $960 million in debt after shelling out $55 million for purchase price, underscores Fiserv's desire to place more emphasis on the account processing business, rather than add-on products like TRM, which have yet to generate a significant impact on its top line, or for that matter its vast installed base.
Fiserv Ecosystem, Partners, Resellers and SI
Fiserv added 2,000 jobs to its campus in Berkeley Heights, New Jersey. In December 2020, Fiserv integrated with Paychex to provide HR management and payroll processing for small businesses through the Clover point-of-sale system. In June, Fiserv kicked off the Clover Mainstreet Momentum Tour to educate small businesses nationwide about the POS system. Fiserv also integrated with NYDIG to enable financial institutions let customers buy, sell, and hold Bitcoin through bank accounts. Fiserv also integrated with Verady to provide first-in-market capability for consumers to share cryptocurrency data with each other and financial institutions.
Fiserv Cloud Infrastructure Insights
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- Fiserv Public Cloud and Infrastructure (IaaS)
- Fiserv Platform (PaaS)
- Fiserv Application Delivery
- Fiserv Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
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