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$FISV General Update: Announced that PBC Credit Union, based in West Palm Beach, Florida, has expanded its long-term relationship with FISV, upgrading its DataSafe account processing platform and adding integrated digital solutions to enhance member services. The credit union also renewed its commitment to the CheckFree® RXP.
Financial technology provider $FISV has entered in to a partnership with TransUnion, a consumer credit reporting agency, under which the latter will provide solutions to improve the operations of Fiserv’s automotive lending division. The objective of integrating the additional data points is to help lenders better evaluate consumers.
$FISV announced that Amplify Credit Union has selected $FISV for its member-centric technology strategy. Amplify will convert from its current core provider to DNA from Fiserv. The credit union will use these features, along with the platform's lending capabilities, to progress its commercial and small business service and real estate lending arms.
$FISV announced the launch of Prologue Credit Loss Manager, which provides support for the final Current Expected Credit Loss (CECL) standards from the Financial Accounting Standards Board. Prologue Credit Loss Manager provides financial institutions with a broad range of information required to measure credit losses.
Financial service solutions provider $FISV said it was selected as a technology partner by credit union SEFCU, to help drive the latter’s member-centric growth strategy and deliver greater efficiencies. SEFCU will use Fiserv’s DNA platform to transform itself from an in-house to an on-demand delivery model.
$FISV, a provider of financial services technology solutions, has acquired the assets of PCLender, LLC, a next generation enterprise internet-based mortgage software and mortgage lending technology solutions. This purchase will enhance the Fiserv suite of mortgage origination services. Financial terms were not disclosed.
$FISV, a provider of investment service solutions, is integrating digital retirement platform Vestwell into its Unified Wealth Platform. The integration will enable financial advisors to access retirement planning and wealth management tools on a single platform. As part of the deal, Westwell will also join Fiserv’s wealth management network.
Financial services technology provider $FISV has been selected by investment advisor Capital Wealth Planning to support its growth initiatives. Under the deal, Finserv will provide easy-to-use technology that would allow Capital Wealth operate efficiently and boost growth through a portfolio accounting and trading platform.
$FISV reported a decrease in 1Q17 earnings. Net income was $247MM or $1.13 per share compared to $289MM or $1.27 per share in 1Q16. Revenue increased 5% to $1.39Bil, driven by 6% growth in the Payments segment and 4% growth in the Financial segment compared to 1Q16.
Fintech company $FISV signed a long-term service renewal with MB Financial Bank, a unit of $MBFI. The bank is recommitting following the successful conversion of two acquisitions to its Fiserv account processing platform in the last three years. The bank has also signed a deal for its electronic bill payment and content management capabilities.
$FISV said Salem Five, a Massachusetts-based bank, has selected the company as a new technology partner to advance its digital focus and enhance its business banking capabilities. The bank will implement the DNA account processing platform from $FISV along with a range of digital banking, payments, and cash management solutions.
Given the natural ramp of new revenue and the number of larger sales transactions, $FISV expects 1Q to be the low revenue growth point of year. 2017 internal revenue growth rate will be higher in 2H17. The company expects revenue growth expansion to be back on track for 2017.