Welcome to our dedicated page for Fiserv news (Ticker: FISV), a resource for investors and traders seeking the latest updates and insights on Fiserv stock.
Fiserv, Inc. provides payments and financial services technology for merchants, banks, credit unions and small businesses. Company news commonly covers earnings from its Merchant Solutions and Financial Solutions segments, product and platform activity around Clover, account processing, digital banking, card issuer processing, network services, e-commerce, merchant acquiring and payment processing.
Recurring updates also include client deployments such as CashFlow Central in Experience Digital, partnerships that extend card issuance or payment capabilities, expansion of Clover hardware manufacturing, investor presentations and Fiserv Small Business Index data on U.S. sales, transaction and ticket trends.
Fiserv, a global leader in payments and financial technology solutions, is expanding its long-term commitment to Wisconsin by opening a new global headquarters in downtown Milwaukee. The project, which involves a $40 million investment and will create 250 jobs over five years, showcases the company's strategy to foster collaboration and innovation. The headquarters aims to enhance the local tech ecosystem, reinforcing Milwaukee's status as a growing fintech hub. The investment is contingent upon state incentives from the Wisconsin Economic Development Corporation.
Fiserv reported a GAAP revenue increase of 9% to $4.52 billion for Q3 2022, with organic revenue growth of 11% year-to-date. GAAP EPS rose 17% to $0.75 in Q3 and 80% to $2.68 year-to-date. The Acceptance segment led growth with 14% increase. The company raised its full-year 2022 outlook for organic revenue growth to 11% and adjusted EPS to $6.48 to $6.55, reflecting strong performance against prior expectations. Operating margins improved, and free cash flow was $2.11 billion in the first nine months.
Fiserv has launched AuthHub, a groundbreaking solution designed to enhance fraud detection for financial institutions. Instead of relying on outdated methods, AuthHub dynamically updates customer profiles using real-time data from various payment channels, providing a comprehensive view of customer behavior. The solution addresses the increasing issue of account takeover fraud, which saw losses exceeding $11.4 billion in 2021, marking a 90% increase since 2020. By offering better-informed decision-making capabilities, AuthHub aims to improve authentication processes and reduce fraud impact.
Fiserv (NASDAQ: FISV) has announced a partnership with IncumbentFI to enhance card programs for financial institutions and fintechs. This collaboration allows cardholders to use programmable payments, linking multiple funding sources to a single card, thus enabling a universal payment experience. Institutions can differentiate their offerings by selecting from a marketplace of capabilities, including wellness tools and buy-now-pay-later options. Bangor Savings Bank is set to launch a microlending feature as part of this initiative, enhancing customer retention and revenue.
Fiserv (NASDAQ: FISV) reports significant growth in real-time payment transactions after connecting the Bethpage Federal Credit Union to the RTP® network via its NOW® Gateway. In just six weeks, Bethpage saw a 45% increase in transactions, with a peak growth of 165% in one week. The number of members receiving transactions rose by 61%, and transaction amounts increased by 34%. Fiserv aims to enhance payment capabilities and help clients meet evolving customer needs.
Fiserv, Inc. (NASDAQ: FISV) will release its third quarter financial results on October 27, 2022, prior to the market opening. The company will host a live webcast to discuss these results at 7 a.m. CT on the same day. Investors can access the webcast and supplemental financial information via the investor relations section of the Fiserv website. Fiserv is recognized as a leader in payments and financial technology, providing various services including account processing, digital banking, and merchant acquiring solutions.
Fiserv, a global leader in payments technology, has launched a new data-as-a-service (DaaS) capability for its Carat operating system, allowing large enterprises to access near-real-time transaction data through the Snowflake Data Cloud. This innovation enhances data analysis and decision-making, reduces operational costs, and improves customer experiences by enabling seamless integration of payments data. The new capability empowers businesses to optimize commerce, strengthen loyalty programs, and mitigate fraud.
Equifax (NYSE: EFX) announced the launch of its I-9 Management App for small- and medium-sized businesses (SMBs) within the Clover App Market. This solution aims to simplify the completion and retention of Form I-9 requirements, offering SMBs a mobile-friendly method for employee verification and remote onboarding. By integrating with Clover, which processes over $234 billion annually, Equifax enhances onboarding efficiency while providing access to I-9 Management and E-Verify services. This initiative builds on Equifax's strategic partnership with Fiserv (Nasdaq: FISV).
Fiserv is enhancing fan experiences at the Caesars Superdome, Smoothie King Center, and Champions Square in New Orleans by implementing over 1000 Clover devices. This initiative aims to modernize food and beverage operations and streamline purchasing processes, beginning with the 2022 NFL and NBA seasons. The Clover Sport solution will improve operational efficiencies by providing real-time data insights and enabling contactless, mobile, and self-service purchasing options. The partnership with ASM Global, which manages these venues, is part of a larger multi-year renovation project.
Fiserv, a global leader in payments and financial technology solutions, announced that Frank Bisignano, its Chairman and CEO, will present at the Goldman Sachs Communacopia + Technology Conference on September 12 at 5 p.m. ET. A live webcast and replay will be available on their investor relations website. Fiserv is a member of the S&P 500 and has been recognized among FORTUNE's Most Admired Companies and Fast Company's Most Innovative Companies.