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IBS Journal March 2016


Fiserv bags 25 new credit union deals for 2016


Fiserv has snapped up no less than 25 credit unions, at once gaining a set of cus- tomers with assets of around $2.5 billion and a customer base of 250,000. All 25 of the credit unions opted for


the vendor’s CUnify account processing system, with five of the number being com- pletely new core processing clients. Among these is 1st Ed Credit Union, based in Chambersburg, Pennsylvania. With around $125 million in assets and 6,400 members, it selected a stack of solutions from Fiserv including ConvergeIT IVR, Data Vaulting, Digital Document and other tools for eStatements, online banking and call centre functionality. “We reviewed the technology offerings


from a number of vendors, and feel confi- dent that Fiserv and CUnify are the best fit to help our credit union grow and prosper


in the years ahead,” says Kelly Childress, CEO, 1st Ed Credit Union. Fiserv has had further good news after


an uptick in revenue for the full year 2015. GAAP revenue in Q4 was $1.37 billion com- pared with $1.32 billion in Q4 2014. Adjust- ed revenue was $1.28 billion in the fourth quarter compared with $1.23 billion for the same period last year, an increase of 5%. It was a similar story for the full year, GAAP revenue was $5.25 billion compared with $5.07 billion in 2014. Adjusted revenue was $4.95 billion for the full year compared with $4.74 billion in 2014, an improvement of 4%. Jeffery Yabuki, president and CEO of Fiserv, says the results were “solid” and adds it’s the company’s “30th consecutive year of double-digit adjusted earnings per share growth”.


Alex Hamilton MasterCard preps UK roll-out of selfie ID service


MasterCard is bringing ‘selfie pay’ to the UK following pilot schemes in the US and Netherlands. It is also planning a launch in 14 other countries this summer. It says that nine out of ten Dutch participants would like to replace their password with biometric identification. Almost 75 per cent of users were convinced that biometric payments will decrease fraud. 750 ABN AMRO cardholders were involved in the trial and were able to complete online purchases without PIN codes, passwords


or confirmation codes over a six month period. “The Dutch consumer is very progres-


sive in embracing new technologies. Our country is the international leader in easy, safe and efficient payments,” says Arjan Bol, Country Manager MasterCard Netherlands. “We are now examining the possibilities to integrate our technology in the banking and tech giants’ apps to make payment using a selfie or fingerprint even easier.” Scott Thompson


PayKey flagged as one to watch by Santander


Santander InnoVentures, Santander’s Fin- Tech VC fund, has announced social pay- ments outfit PayKey as its Pitch Slam win- ner at the first FinTech Venture Day, held in Tel-Aviv. The company beat out Credible, Splitit, Neema and IAmReal to take first place.


Held across three different locations,


the event is part conference and part com- petition, bringing together regional stake- holders with the aim of exploring the issues


How to make analytics work? IBS launches IBS Chat


faced by startups in the financial technolo- gy sector. Pitch Slam sees innovative start- ups vie to win access to the expertise etc of Santander InnoVentures and its partners IE Business School and Accenture. Daniel Peled, CEO and co-founder of


PayKey, says: “Winning the FinTech Ven- ture Day Pitch Slam in Tel Aviv is hugely exciting for us and further validation of the secure mobile payment technology we’re taking to market. We’re seeing that banks


are more open to innovation and willing to push the boundaries when it comes to delivering a great customer payment expe- rience that’s also highly secure. The event gave us a great opportunity to present our ideas in a very competitive pitch, to a high calibre judging panel.” The remaining two FinTech Venture


Days will take place in Madrid and Sao Pao- lo, in April and May respectively. Scott Thompson


IBS Intelligence has launched its IBS Chat Forum, a global platform to bring industry participants together on everything related to banking and financial services technology. Log on to www.ibsintelligence.com/ibschat and connect with peers across the globe now!


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