When Fiserv purchased First Data in 2019, it was part of an industrywide push to combine bank and merchant technology under one roof. A year later, a key piece of First Data’s technology — and its top executive — have become Fiserv’s path through the pandemic. As payments volume across the world plummeted, Fiserv’s Clover…
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While bank M&A has been largely dominated by the fallout from one deal this year — the merger of BB&T and SunTrust Banks — the fintech space remains red hot. Three significant deals in the payments and financial service provider area have already been struck so far this year, while bank and venture capital interest…
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Vendor consolidation has been topping fintech headlines in 2019, since the announcement of banking technology vendor Fiserv announced its acquisition of payments processor First Data. The major deal followed others in recent years — such as FIS’s acquisition of SunGard and the merger of D+H and Misys into Finastra — in which legacy fintech providers…
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Fiserv’s $22 billion deal to acquire First Data creates pressure to scale core banking and payment processing that may force further industry consolidation. That puts M&A bullseyes on companies like FIS, TSYS and myriad bank IT and merchant services companies. “A deal has been brewing for years and it was no secret that Fiserv has…
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The news that Fiserv is buying First Data may be unwelcome to small banks and credit unions as some fear it will create a combined entity that is even slower and more bureaucratic than the large core vendors are seen as today. The deal makes sense for Fiserv. It brings together two financial industry behemoths:…
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