1980s and 1990s
Fiserv was founded in 1984, and within two years, it was listed on NASDAQ. The company experienced rapid growth mainly due to a series of acquisitions, including Citicorp Information Resources, a subsidiary of Citicorp, which was the largest acquisition in its early years. This acquisition put Fiserv into the commercial banking, internal and credit union core account processing market space.[7]
In 1995, Fiserv acquired Information Technology, Inc., (ITI) of Lincoln, Nebraska. Thus, Fiserv acquired Premier, which at that time was the most widely implemented account processing platform in the US, and represented an increase in Fiserv's account processing clients.[7] Fiserv also launched its website in 1995, and introduced fully electronic bill payment (branded as E-bills) in 1997, reaching $1 billion in revenue.[8]
2000s
In 2003, Fiserv acquired General American Corporation.[9] It also acquired Consumer Network Services from Electronic Data Systems for $320 million.[10]
In 2005, Jeff Yabuki became Fiserv's CEO, and the company acquired a number of businesses, including Del Mar Database, assets of U.S. eLending business from Emergis, Interactive Technologies, Administrative Services Group Inc., JW Hutton, BillMatrix, VerticalPoint, and Xcipio, Inc.[11][12]
In 2006, Fiserv acquired CareGain, Inc., Asset of CT Insurance Services & CCH Wall Street.[13][14]
In 2007, Fiserv acquired NetEconomy[15] and CheckFree — which had itself just acquired Corillian, Carreker, PhoneCharge[16] and Upstream Technologies LLC.[17] This was Fiserv's largest acquisition to date; CheckFree was at that time the leading provider of online banking, online bill payment, electronic bill payment services, and software for check clearance and ACH (also known as direct debit) processing.[7]
In 2008, Fiserv made an acquisition of Interactive Technologies, Inc., provider of billing software and ancillary products for the banking and investment advisory industries, granting Fiserv control of their "Advantage Fee System" which calculates complex billing for fees and commissions. In the same year, Fiserv acquired i_Tech, a Montana-based item processing company that had been owned by First Interstate Bank.[18] Fiserv also acquired The Data Center, a Texas-based item processing company, from BBVA Compass Bank.[19]
2010s
In 2010, Fiserv acquired AdviceAmerica, provider of software for financial institutions.[20]
In 2011, Fiserv acquired M-Com. Established in 2000 and based in Auckland, New Zealand, M-Com developed mobile banking apps.[21] Fiserv also in 2011 acquired Maverick Network Solutions, established in 2006 and based in Brandywine Hundred, Delaware,[22] and CashEdge, developer of payment solutions, including Popmoney.[23]
In 2013, Open Solutions, Inc., an account processing platform, was yet another company acquired by Fiserv, following a rebrand of Open Solutions managed by branding agency Bob's Your Uncle. Fiserv paid $55 million to acquire Open Solutions, by taking on $960 million in debt.[24][25]
2020s
In 2020, Fiserv made an acquisition of Bypass Mobile, enterprise point of sale platform.[33] In the same year, CEO Jeffery Yabuki stepped down and was replaced by Frank Bisignano.
In 2021, Fiserv acquired Ondot Systems, a digital experience platform for financial institutions;[34] NetPay, a payment facilitator;[35] and BentoBox, provider of online restaurant operations.[36]
In 2022, Fiserv acquired Finxact, provider of cloud-based core banking services.[37] The company also acquired TIF District in the same year.
The city of Milwaukee created a tax incremental financing district to incentivize Fiserv to remain in downtown Milwaukee, Wisconsin.
Litigation with Shift4
Following its 2019 acquisition of First Data, Fiserv inherited a significant legal dispute between its subsidiary CardConnect and rival payments company Shift4. The lawsuit included allegations of breach of contract and lasted for several years. The case was ultimately settled in late 2022 after a direct agreement was reached between Fiserv CEO Frank Bisignano and Shift4 CEO Jared Isaacman. The terms of the settlement remain confidential.[48]
