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According to a recent white paper from Fiserv, conducted by Javelin Strategy & Research, consumers recognize the benefits of real-time payments but are unclear on the concept and its availability. The study reveals that 60% of consumers doubt the instantaneous nature of real-time payments, while 44% mistakenly believe nonbank apps offer instant access through bank accounts. The paper suggests financial institutions educate consumers on real-time payment options and enhance their services to capture market opportunities.
Bank of Queensland (BOQ) is enhancing its debit card services through a collaboration with Fiserv (NASDAQ: FISV). The migration to the FirstVision platform allows customers to add cards to digital wallets and use wearables for payments. This cloud-based solution supports rapid service addition and scalability, crucial for adapting to market demands. The partnership aims to improve customer experience and streamline card management for both physical and digital cards. Executives emphasize the importance of instant and reliable payment capabilities in today's fast-paced financial landscape.
Fiserv, a global leader in payments and financial technology, has announced that President and CEO Frank Bisignano will present at Citi’s 2021 Annual FinTech Conference on November 15, 2021, at 1:30 p.m. ET. Investors can access a live webcast and an archived replay of the presentation on the investor relations section of the Fiserv website.
As a member of the S&P 500 and FORTUNE 500, Fiserv focuses on innovation in account processing, digital banking, payments, and more.
The Milwaukee Bucks, Fiserv, and Nancy Lieberman Charities unveiled a new Dream Court™ in Sherman Park, Milwaukee, enhancing community resources for youth. The court, measuring 50-by-84 feet, features advanced PowerGame™ flooring, promoting teamwork and character development among local children. This initiative supports Fiserv's commitment to the community, which also includes the Back2Business program aiding minority-owned businesses. Approximately 3.6 million youth benefit annually from such Dream Courts across the U.S. This collaboration aims to uplift the local community through sports.
Fiserv reported strong financial results for Q3 2021, with GAAP revenue up 10% at $4.16 billion and GAAP EPS increasing by 64% to $0.64. Internal revenue growth was 10% for the quarter and 11% year-to-date. Adjusted EPS rose 23% to $1.47 in Q3 and 29% to $4.01 for the first nine months. The Acceptance segment led growth with an 18% increase. The company tightened its 2021 outlook for internal revenue growth to 11% and adjusted EPS to between $5.55 and $5.60. Fiserv is set to acquire BentoBox to enhance its Clover® platform. Free cash flow was $2.29 billion year-to-date.
Fiserv (NASDAQ: FISV) has launched Credit Choice, a digital-first credit card solution aimed at empowering financial institutions. This initiative simplifies card issuance for banks and credit unions, helping them maintain customer relationships without the complexities of direct card management. Credit Choice includes program management, compliance, and risk components, providing a seamless digital experience for cardholders. It integrates credit and debit functions for a cohesive user experience, supporting smaller firms in competing effectively against larger issuers.
Fiserv, a global leader in payments technology, has announced a strategic partnership with Bakkt, a digital asset platform. This collaboration will integrate Bakkt's capabilities into Fiserv's Carat ecosystem, enabling businesses to utilize digital assets for B2B and B2C transactions. The partnership aims to enhance consumer experiences by facilitating crypto transactions and integrating digital assets into merchant offerings, while providing Fiserv's financial institution clients with Bakkt's technology for managing crypto assets.
On October 21, 2021, Early Warning Services and Fiserv announced a partnership to provide real-time payments via Zelle to minority depository institutions (MDIs). Eligible MDIs can receive rebates for participating in this initiative, aimed at enhancing financial services access for underserved communities. Banesco USA is the latest MDI to join the Zelle Network, allowing its customers to use Zelle for fast money transfers. This collaboration is part of Fiserv's commitment to diversity and inclusion in financial services, enabling better financial management for historically underserved populations.
Valley Bank partners with Fiserv (NASDAQ: FISV) to enhance its deposit and consumer lending services through advanced open banking technology. This collaboration aims to improve client experience by integrating digital and physical banking locations, enabling personalized advisory support. With $41 billion in assets, Valley Bank seeks to innovate and rapidly bring solutions to market, leveraging core processing data for efficient financial services. This partnership is poised to drive growth and attract new customers in a competitive fintech landscape.
Fiserv, Inc. (NASDAQ: FISV) has agreed to acquire BentoBox, a platform enhancing digital marketing and commerce for restaurants. This acquisition aims to advance Clover's omnicommerce strategy, promoting seamless hospitality experiences that blend physical and digital dining. With over 7,500 restaurant concepts leveraging BentoBox's capabilities, the integration is expected to enhance operational efficiencies and drive revenue growth. Financial terms are undisclosed, with the deal anticipated to close in Q4 2021, pending customary approvals.
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