Fiserv Acquires Debt Software Firm
BROOKFIELD, Wis. - Fiserv has made yet another acquisition. This time it has acquired Interactive Technologies, Inc., a Summit, New Jersey based firm that assists large and mid-sized firms manage their fees through software. Today's fee systems can get quite complex. Whether it's overdraft protection or checks, relationship pricing often comes into play for setting the fees. According to Fiserv, Interactive Technologies' Advantage Fee System is a multi-currency, multi-lingual product that is sold worldwide. InteractiveTechnologies currently has about 60 clients. Last year it had $10 million in revenue. Fiserv said all 50 of Interactive Technologies' employees and its president, Tom Dackow, are expected to join Fiserv. The company also said they will sell the Advantage Fee System as a stand-alone product and may wrap it with other Fiserv products. Fiserv has seven credit union data processing subsidiaries.