Fiserv Inc. is now 25 years old.
Headquartered in the Milwaukee suburb of Brookfield, Wis., Fiservis a $4.7 billion enterprise with about 20,000 employees and aninternational client list of more than 16,000 financialinstitutions. It's a Fortune 500 company now and is currentlyranked No. 1 on the FinTech 100 survey of technology providers tothe financial services industry.
The company was formed on July 31, 1984, through the merger ofSunshine State Systems Inc. in Tampa, Fla., and First DataProcessing in Milwaukee, Wis., and began as a $21 million operationwith about 350 employees.
“Fiserv had expertise to offer banks and credit unions at theperfect time. Banks then, as now, were looking for solutions tohandle their processing needs,” said Leslie Muma, who co-foundedFiserv with George Dalton and served as president until 2005.
“Since then many competitors have followed essentially the samebusiness model that George and I envisioned, but we are proud tosay Fiserv remains the leader,” he said.
Organic growth and notable acquisitions drove Fiserv's expansion,including the 1991 purchase of Citicorp Information Resources, the1995 acquisition of Information Technology Inc. and its largest,CheckFree Corp. in 2007, making it a leader in the emergingpayments industry.
Fiserv also is the largest player in credit union core processing,and recently completed the integration of those seven units intoone operation which serves about 2,400 CUs. That was part of anoverall rebranding and organization of the company's 77 operatingunits.
“The bridge between our first 25 years and the next is ourcommitment to serving clients. We are focused on deliveringtechnology solutions that are differentiating and innovative,” saidJeffery Yabuki, Fiserv president/CEO. “We are excited about thepossibilities that lie ahead for our great company.”