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Fiserv

Provider of data processing services to banks.

Headquarters:
255 Fiserv Drive
Brookfield, WI 53045
Employees: 20,000
CEO: Jeffery Yabuki
Stock Symbol: FISV

Website: http://www.fiserv.com

Career Site

Fiserv is the world's largest service provider to banks, credit unions, lending institutions, and investment advisors; a nationally-recognized single-source solution provider to insurance companies and agents; and a growing presence in health plan administration.

The company provides information management systems and services to the financial and health benefits industries, including transaction processing, outsourcing, business process outsourcing and software and systems solutions. The company serves more than 16,000 clients worldwide, including banks, credit unions, financial planners/investment advisers, insurance companies and agents, self-funded employers, lenders and savings institutions.

The company has 158 locations worldwide.

Fiserv reported revenues in 2011 of $4.33 billion and net income of $472 million.

In September 2011, Fiserve acquired CashEdge, Inc., a leading provider of consumer and business payments solutions such as account-to-account transfer, account opening and funding, data aggregation, small business invoicing and payments and person-to-person payments. CashEdge’s person-to-person payments solution, Popmoney, adds complementary and advanced features to our existing offering and expands the reach of our network of financial institutions, consumers and small businesses that use the service. As of December 31, 2011, nearly 1,400 financial institutions have agreed to offer its person-to-person payments services.

History

Fiserv began as a provider of financial service data processing for small banks and thrifts. In 1986, the company went public as a $70 million regional processor, adding credit union services with the 1988 acquisition of Minnesota On-Line, Inc. Within four years, Fiserv was serving some of the nation's largest financial institutions.

In 1990, the company expanded its electronic funds capabilities through the acquisition of California-based GTE EFT Services Money Network and GTE ATM Networks. It entered the card fulfillment market in 1992 through Indianapolis-based Data Holdings, Inc. And in 1997, Fiserv added securities transaction processing services with BHC Financial, Inc., of Pennsylvania.

On Dec. 3, 2007, the company completed its acquisition of CheckFree Corporation ("CheckFree") for approximately $4.4 billion in cash, significantly enhancing its presence in the fast-growing markets of on-line bill payment, Internet banking, operational risk management and investment services.

On Jan. 10, 2008, Fiserv completed the disposition of a majority of its health businesses to UnitedHealthcare. The company estimates net proceeds from this transaction of approximately $460 million after income taxes, final net working capital adjustments and transaction costs.

Benefits

- Medical and Dental Plans
- Health Care and Dependent Care Reimbursement Accounts, plus pre-tax premium contributions
- Life Insurance and Accidental Death and Dismemberment Insurance for employees and dependents
- Short and Long-Term Disability Plans
- Employee Stock Purchase Plan
- 401(k) Retirement Plan, with company matching and profit sharing contributions
- Educational Assistance Plan
- Employee Assistance Plan
- Paid Holidays and Vacations

Updated April 15, 2012