Fiserv

Fiserv, Inc. stands as one of the world's largest financial technology companies and the leading global provider of payments and financial services technology solutions. Headquartered in Brookfield, Wisconsin, Fiserv serves clients in more than 100 countries and has become a cornerstone of the global financial infrastructure, processing billions of transactions annually and enabling digital financial experiences for consumers and businesses worldwide. With annual revenue exceeding $20.5 billion in 2024 and a market capitalization that has reached over $100 billion at its peak, Fiserv represents the convergence of traditional banking technology and modern payment innovation.

Founded in 1984 by George Dalton and Leslie Muma, who merged their respective data processing companies to create a national organization focused on financial services, Fiserv has grown through strategic acquisitions and organic innovation. The company's evolution accelerated dramatically with its $22 billion acquisition of First Data Corporation in 2019, creating an unprecedented combination of banking technology and merchant payment processing capabilities. This transformative merger positioned Fiserv to serve the entire payments ecosystem, from issuing financial institutions to merchant acquirers, and introduced the company to the rapidly growing small business market through the Clover point-of-sale platform.

Today, Fiserv operates across three primary business segments that collectively serve the financial services industry. The Merchant Acceptance segment, powered by the First Data acquisition, makes Fiserv the world's largest merchant acquirer, processing payments for millions of businesses globally through solutions like Clover and Carat. The Financial Technology segment provides core account processing systems, digital banking platforms, and technology infrastructure for thousands of financial institutions ranging from community banks to the world's largest financial services companies. The Payments and Network segment operates card networks, provides issuer processing services, and enables the movement of money through various channels including debit, credit, and electronic bill payment systems.

Fiserv's innovation strategy centers on delivering integrated solutions that combine multiple capabilities into seamless experiences. The Clover platform exemplifies this approach, offering small businesses an all-in-one point-of-sale system that integrates payment processing, inventory management, customer engagement, and business analytics in a cloud-based, Android-powered ecosystem. For financial institutions, Fiserv's DNA core banking platform processes accounts for millions of consumers while its digital banking solutions enable mobile and online experiences used by hundreds of millions of people worldwide. The company's Carat commerce platform orchestrates payments for many of the world's largest enterprises, optimizing transaction routing and providing unified commerce capabilities across channels.

Despite its market leadership and strong financial performance through 2024, Fiserv faced significant challenges in 2025. The company experienced its worst single-day stock decline ever in October 2025, falling 44% after cutting its earnings outlook and announcing major leadership changes. Issues included customer complaints about fees on the Clover platform, challenges in Argentina's deteriorating economic environment, and integration complexities from recent acquisitions. In response, CEO Frank Bisignano departed to lead the Social Security Administration, and the company brought in new leadership including Mike Lyons as CEO, Takis Georgakopoulos and Dhivya Suryadevara as Co-Presidents, and Paul Todd as CFO, signaling a period of strategic reset and operational restructuring.

Looking forward, Fiserv remains positioned as a critical infrastructure provider for the global financial system, with over 38,000 employees serving financial institutions, merchants, and consumers worldwide. The company continues to invest in innovation areas including real-time payments, embedded finance, digital currencies, and artificial intelligence applications in fraud detection and customer service. While navigating near-term challenges, Fiserv's scale, customer relationships, and comprehensive product portfolio provide a foundation for long-term growth as digital payments and fintech solutions continue transforming how money moves around the world.