Financial services technology provider reports $4.2 billion in 2012 revenue, additions to mobile banking, bill pay client lists.
The announcement last month by Fiserv that it would acquire Open Solutions Inc. for roughly $1 billion, most of that in debt assumption, has sent some shivers through the credit union core processing world.
mFoundry, the mobile banking app specialist founded in 2004 that grew as rapidly as its space, has been sold to FIS.
Global payments processor to snap up Internet banking pioneer in cash deal for stock.
While Fiserv Inc.’s purchase of Open Solutions Inc. marked the end of an era, it also sparked conversation about how the financial services technology giant will handle the addition of another handful of core account processing platforms to its portfolio.
Get an in-depth look at the Fiserv takeover of Open Solutions in this preview from next week's print edition.
Reaction varied to the news that the Wisconsin-based financial services technology giant had scooped up its debt-ridden former rival.
Jeffrey Yabuki sees combining of flagship platforms and addition of new products as pluses.
Core processor sold to financial services giant for $55 million in cash and $960 million in acquired debt.
Many smaller financial institutions have become increasingly disconnected from the way people live today because they continue to operate on outdated technology that hasn’t kept pace with what consumers need.