Websites using Fiserv

Okay, let s break down Fiserv, covering its overview, revenue, alternatives, pricing (as much as publicly available), and customer care.

Fiserv: Overview

Fiserv, Inc. is a global provider of financial services technology. In simple terms, they provide the infrastructure and software that banks, credit unions, businesses, and other financial institutions use to operate. Think of them as the plumbing and wiring behind many of the financial transactions you make every day.

• What They Do: Fiserv offers a broad range of solutions, including:
  • Payment Processing: Credit card, debit card, ACH, and other payment processing solutions.
  • Core Banking Systems: The central platform that banks use to manage accounts, transactions, and customer information.
  • Digital Banking: Online and mobile banking platforms.
  • Merchant Services: Point-of-sale (POS) systems and solutions for businesses to accept payments.
  • Risk & Compliance: Solutions for fraud detection, regulatory compliance, and security.
  • Investment Services: Technology for wealth management and investment firms.
• Target Customers: Their customer base is diverse, ranging from small community banks and credit unions to large multinational financial institutions and retailers.
• Key Differentiators (claimed):
  • Scale: They are one of the largest players in the industry, offering a comprehensive suite of solutions.
  • Integration: They aim to provide integrated platforms that connect various aspects of financial operations.
  • Experience: They have a long history in the financial technology space.

Revenue

Fiserv is a publicly traded company (FISV) and reports its financials regularly. Here s a general overview of their recent revenue:

• Scale: They are a multi-billion dollar company. Expect annual revenues in the range of tens of billions of dollars.

To get the exact and most up-to-date revenue figures, you should consult:

• Fiserv s Investor Relations Website: This is the best source for their annual reports, quarterly earnings releases, and investor presentations. Search for Fiserv Investor Relations on Google.
• Financial News Websites: Sites like Yahoo Finance, Bloomberg, and Reuters will report on Fiserv s earnings.
• SEC Filings: You can find Fiserv s official filings with the Securities and Exchange Commission (SEC) on the SEC s EDGAR database.

Alternatives

The financial technology landscape is competitive. Here are some key alternatives to Fiserv, categorized by area:

• Core Banking Systems:
  • Jack Henry & Associates (JKHY): A major competitor in core banking, particularly for community banks and credit unions.
  • Temenos: A global provider of core banking systems, often targeting larger banks.
  • Finastra: Another large player with a wide range of banking and financial solutions.
  • Infosys Finacle: A core banking solution from Infosys, a large IT services company.
• Payment Processing:
  • Global Payments (GPN): A major payment processor.
  • Block (SQ) (formerly Square): Popular with small businesses for POS and payment solutions.
  • Adyen: A payment platform focused on enterprise customers and global payments.
  • PayPal (PYPL): A well-known payment platform with a large user base.
  • Worldpay (now part of FIS): Note: Worldpay was acquired by FIS (another major player), creating even more competition in the space.
  • Stripe: A developer-friendly payment platform.
• Digital Banking:
  • Many of the core banking providers also offer digital banking solutions.
  • Q2 Holdings (QTWO): Specializes in digital banking platforms for community banks and credit unions.
• Merchant Services:
  • Many of the payment processors also offer merchant services.
  • Shopify (SHOP): A popular e-commerce platform with integrated payment processing.

Pricing

Pricing for Fiserv s solutions is notoriously difficult to find publicly. This is typical in the enterprise software and financial technology space. Here s why and what to expect:

• Custom Pricing: Fiserv s pricing is almost always customized based on:
  • The specific solutions you need: Core banking is priced differently than payment processing.
  • The size of your organization: A large bank will pay significantly more than a small credit union.
  • Transaction volume: For payment processing, pricing is often tied to the number of transactions you process.
  • Contract length: Longer-term contracts may come with better pricing.
• Complexity: Financial technology contracts can be complex, with various fees for implementation, support, training, and ongoing maintenance.
• Lack of Transparency: Fiserv, like many of its competitors, doesn t publish detailed pricing information because it wants to maintain flexibility in negotiations.

How to get pricing information:

1. Contact Fiserv Directly: You ll need to contact their sales team and provide details about your organization and your needs to get a quote.
2. Work with a Consultant: Some consultants specialize in helping financial institutions evaluate and select technology solutions. They may have insights into pricing benchmarks.
3. Industry Reports: Some industry research firms may publish reports on pricing trends in the financial technology market, but these are often expensive.
4. Peer Benchmarking: Talk to similar-sized institutions and find out what solutions they use and understand their pricing.

General Pricing Models (Expect these):

• Subscription-based: A recurring fee (monthly or annual) for access to the software or service.
• Transaction-based: Fees based on the number of transactions processed.
• Per-user: Fees based on the number of users who will access the system.
• Implementation Fees: A one-time fee for setting up the system and training your staff.

Customer Care

Customer care experiences with Fiserv can vary. Here s a breakdown:

• Scale Challenges: As a large company, Fiserv can sometimes face challenges in providing consistently high-quality customer service. Some customers report long wait times or difficulty getting issues resolved.
• Account Management: Fiserv typically assigns account managers to larger clients. The quality of your account manager can significantly impact your experience.
• Support Channels: Fiserv offers various support channels, including:
  • Phone Support: A common channel for urgent issues.
  • Online Support Portals: For submitting tickets, accessing documentation, and troubleshooting.
  • Email Support: For less urgent inquiries.
• Service Level Agreements (SLAs): Contracts with Fiserv often include SLAs that specify response times and uptime guarantees. Be sure to review these carefully.
• Reputation: You can find customer reviews and ratings on websites like G2, Capterra, and TrustRadius, but keep in mind that these reviews can be subjective. Also, be aware that the experience of one customer may not be representative of the experience of all customers.
• Due Diligence: Before signing a contract, it s essential to do your due diligence and talk to other Fiserv customers to get their feedback on customer support.
• Escalation Procedures: Make sure you clearly understand the escalation procedures in case you encounter issues that are not being resolved to your satisfaction.

Key Considerations When Evaluating Fiserv (and its Alternatives):

• Your Specific Needs: What are your biggest challenges and priorities?
• Integration Capabilities: How well does the solution integrate with your existing systems?
• Scalability: Can the solution grow with your organization?
• Security: What security measures are in place to protect your data?
• Compliance: Does the solution help you meet regulatory requirements?
• Total Cost of Ownership: Consider all costs, including implementation, training, and ongoing maintenance.
• Customer References: Talk to other customers to get their feedback.

In summary, Fiserv is a major player in the financial technology industry, offering a wide range of solutions. However, it s essential to carefully evaluate your needs, compare alternatives, and negotiate a contract that meets your requirements. Good luck!