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January 22 2016

Fiserv Buys ACI Worldwide’s Community Financial Services Division for $200 Million

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Financial services solutions provider, Fiserv, has agreed to purchase the Community Financial Services (CFS) arm of ebanking and payment solutions provider ACI Worldwide (NASDAQ: ACIW).

Fiserv, which reported 2013 revenues of $4.8 billion, will pay $200 million cash for CFS.

ACIWW

Included in the transaction are CFS clients as well as the company’s employees, who will join Fiserv’s workforce of 21,000.

The highlight of the deal, however, seems to be the technology. Jeffery Yabuki, Fiserv President and CEO states, “We are pleased to add these strong digital banking capabilities which will further enable financial institutions to serve their customers in today’s dynamic world.”

CFS solutions include:

  • ACI’s Architect Banking
  • SSB Internet Banking
  • WebFederal Internet Banking and Advantage Internet Banking solutions
  • Advantage Consolidated Bank Bill Pay
  • ACI Defense Services

The deal is expected to close sometime this quarter, subject to regulatory approval.

placeitCardFreeCash

Wisconsin-based Fiserv recently debuted its Mobiliti Enterprise at FinovateFall 2015. In the demo, the company showed how a user can withdraw cash from an ATM without a card by using wearable devices connected with iBeacons inside the ATM.

  1. Building True Resilience in the UK Payments Ecosystem | Part 7 | Bottomline

    Thought Leadership

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  2. Cheaper, Faster… Riskier: Over Half Of Brits Plan To Use ChatGPT For Completing Their Tax Returns

    Fintech

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  3. Tuum and Abwab.ai Partner to Deliver End-to-End SME Lending Solutions in the Middle East

    Fintech

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  4. Tuum Powers Bank CenterCredit’s Digital Transformation, Setting a Blueprint for BaaS and Core Modernization in Global Banking

    Fintech

     Read more
  5. GFT’s Generative AI Credit Risk Assistant to Inform Major Lending Decisions

    Fintech

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