Monday, April 7, 2008

Fiserv Banks on a Return To Core Services for Growth

“While the major banks' earnings sputter from the big write-downs of the credit crisis, those of Fiserv, a company that provides technology to many of them, are on the rise. The Brookfield, Wis., company- the product of more than 100 acquisitions- supplies systems and services that are the backbone of basic banking. Its technology is used to electronically post checks, open new checking and savings accounts and track loans. And Fiserv's most recent purchase, of CheckFree for $4.4 billion, gives it entree into the electronic bank payments business. Yet because banks are its main clients, Fiserv (FISV) has seen shares tumble about 20% since last summer to a recent $51.53.”

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