Electronic payments company ACI Worldwide said it is leaving the credit union and community banking market by selling its Community Financial Services business to Fiserv for $200 million in cash, according to an announcement.
In the deal, Fiserv will acquire a suite of digital banking and electronic payments solutions from ACI Worldwide, including WebFederal Internet Banking, which is an online banking platform for credit unions. It provides basic functionality such as transfers, account history and bill payment, as well as mobile banking apps, personal financial management and P2P transfers.
"Exiting the community bank and credit union markets enables ACI to focus resources and energy on our strategic products and new high-growth initiatives," ACI Worldwide President and CEO Phil Heasley said.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
