Fiserv
More info
- Creator
- George Dalton, Leslie Muma
- Released
- 1984
- Type
- Banking and payment systems
- Website
- fiserv.com
American supplier of core banking and payment processing, invisible to customers but wired into thousands of banks.
Formed in Wisconsin in 1984 from the merger of two data-processing firms. The business model: small and mid-sized American banks didn't need to run their own mainframes for accounts and transactions when they could rent Fiserv's. A lot of that code has COBOL roots and survives because nobody dares replace it.
In 2019 Fiserv bought First Data for around $22 billion, picking up merchant acquiring and the Clover point-of-sale system in the process. That made it one of the biggest players both behind the bank counter and at the shop till.