Leveraging Innovative Technologies for Improved Electronic Payment Services

By CIOReview | Thursday, January 3, 2019
Jeffery W. Yabuki, President and CEO

Jeffery W. Yabuki, President and CEO

Automation and digitization have greatly disrupted the financial services industry. In the case of the banking sector, organizations are focusing more on automating their bank functions as well as enhancing their online banking services. This scenario has opened a new gateway to several organizations that are providing financial services technology solutions.

"Fiserv’s Institutional Asset Management Solutions are designed to be in line with these trends, where its customers are constantly learning to adapt and manage the new demands."

Fiserv [NASDAQ: FISV] is a global leader among the best providers of financial service technology solutions. The company maintains more than 12,000 clients across the world and creates improved digital experiences. In payments, processing services, risk & compliance, customer & channel management, and insights & optimization, approximately 24,000 employees around the world drive quality and innovation with one important aspect in mind: to move money and information around the world. The firm is moving forward with intentions to earn client trust every day, inspire and achieve excellence, and to continue to deliver better solutions.

With an automated process, Fiserv enables customers to streamline and improvise their accounting structures along with federal or corporate revisions while ensuring that there are no revenue leaks. The automated bill generating capabilities periodically send invoices in clear and concise formats, enhancing visibility for investors, cross-border, and other process financial instruments. Jeffery W. Yabuki, the man who drives the Fiserv at his position as the president and CEO, says, “Fiserv’s Institutional Asset Management Solutions are designed to be in line with these trends, where its customers are constantly learning to adapt and manage the new demands.”

According to a survey by Fiserv, the company has given new insights into the implementation of open banking initiatives by banks in the UK, Poland, France, and Australia. Banks have mainly focused on compliance, with only 42 percent of respondents saying that their open banking strategy goes beyond day one. They agree that open banking will have an impact on financial activities, with at least 67 percent expecting a moderate impact, and 27 percent of those who say open banking will totally change the way customers manage their money and communicate with their financial institutions. Banks report difficulties in recruiting engineering talent for open banking projects, and many argue that they lack sufficient staff and the skills required to remain or complain.

Fiserv, as it grows to a greater level, will have a greater future while looking into the financial service solutions that it offers to the current market. These high-end technology solutions have made Fiserv a trusted fintech leader and innovator for more than 30 years.