Fiserv Revenue Up, Touts Signings
Fiserv Inc. said it signed several hundred new and existing clients to an array of financial technology services in 2010 and notched a couple new financial records, the Brookfield, Wis., company said.
Free cash flow increased 10% during the year to $735 million and adjusted earnings per share were $4.05, both new marks, the company said in this week.
Adjusted revenue for the year was $3.87 billion, up 1% from $3.87 billion in 2009, the company said. In 2011, Fiserv said it expects adjusted internal revenue growth of 2% to 4% and adjusted EPS growth of 9% to 12%.
Among highlights for the year, the company said, was signing 176 new users of the ZashPay person-to-person payment service in the fourth quarter, bringing the client list to more than 600 financial institutions.
Fiserv said kit also signed 163 bill pay and 55 debit clients during the year. Contract wins touted included the $700 million Kawartha Credit Union in Ontario, Canada and the $980 million Gesa CU in Washington state as users of the new Acumen account processing solution, as well as continuing to provide Diebold Inc. with source capture solutions for its image-enabled ATMs.