Fiserv: Information from Answers.com

Fiserv, Inc.

Type	Public (NASDAQ: FISV)
Founded	Brookfield (1984)
Headquarters	Brookfield, Wisconsin, United States
Key people	Donald F. Dillon, Chairman Thomas Hirsch, CFO Jeffery W. Yabuki, President and CEO
Website	www.fiserv.com

Fiserv, Inc. NASDAQ: FISV a Fortune 500 company, provides information management systems and services to the financial and insurance industries. Leading services include transaction processing, outsourcing, business process outsourcing (BPO), software and systems solutions. The company serves more than 18,000 clients worldwide^{[citation needed]}. Fiserv was ranked the second largest provider of information technology services to the financial services industry worldwide in 2007 FinTech 100 surveys, giving up the top position it held 2004-2006 to Fidelity National Information Services.^[1] Headquartered in Brookfield, Wisconsin, Fiserv reported more than $4.4 billion in total revenue for 2006.

1 History
2 Corporate Structure
3 Recent Acquisitions
- 3.1 2008
- 3.2 2007
- 3.3 2006
- 3.4 2005
4 References

History

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

In 1990 Fiserv expanded its electronic funds capabilities through the acquisition of California-based GTE EFT Services Money Network and GTE ATM Networks.^{[citation needed]} In 1991, Fiserv acquired Galaxy Credit Union Solutions, which serves credit unions with software solutions and data protection.^[2] Fiserv entered the card fulfillment market in 1992 through Indianapolis-based Data Holdings, Inc.^{[citation needed]} And in 1997 it added securities transaction processing services with BHC Financial, Inc., of Pennsylvania.^{[citation needed]}

Fiserv entered the insurance industry with the 1998 acquisition of Iowa’s Network Data Processing Corp.^{[citation needed]} And in 2001 it acquired Texas-based Benefit Planners, thereby entering the health benefits market.^{[citation needed]}

Corporate Structure

Fiserv has nine Business Groups that specialize in solutions for many financial industry sectors:

Bank Systems – In-house and outsourced core processing for banks and thrifts, including cash and treasury management solutions, risk management, imaging solutions, customer contact solutions and data warehousing.

Bank Servicing & ePayments – Outsourced (service bureau) core processing systems, EFT processing, credit processing services, electronic bill payment services and value-added solutions for banks and thrifts.

Lending Solutions – Outsourced and licensed software and services for the lending industry, including mortgage loan servicing, automated property valuation, loan and lease portfolio management for the auto finance market, loan settlement support and contact center services.

Item Processing – Complete solution for the item and image processing needs of financial institutions, providing resources and technology for processing and automating paper-based payment transactions.

Credit Union & Industry Products – Core account processing and value-added solutions for credit unions, plastic card production and services, high-volume laser printing and mailing, electronic document distribution and archival.

Health Solutions – Outsourced services for self-funded and other medical, dental, vision and disability plans, including health plan administration, care and disease management, and pharmacy benefit management. Sale of this division to UnitedHealth Group (pending close) was announced 11/2/2007.^[3]

Investment Support Services – Outsourced services for individual and business retirement plans, trustee, custodial and recordkeeping, back-office investment support and tax reporting. Sale of this division to TD Ameritrade Online Holdings, Inc. on May 24, 2007 and closed on February 4, 2008. ^[4]

Fiserv Global Services – Global delivery capabilities provided to Fiserv Business Units and clients in a range of technology and processing disciplines. Fiserv India Pvt. Ltd. is the fully owned Indian subsidiary of Fiserv Global Services.