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Fiserv celebrates 25 years in financial services, processing
July 30, 2009
Brookfield, Wis.-based Fiserv Inc. celebrates its 25th year of business today. The company was created in 1984, when Tampa, Fla.-based Sunshine State Systems Inc. and Milwaukee-based First Data Processing combined to form Fiserv, the first national financial-services company. The regional data processors combined to serve small banks and thrifts, growing organically and through more than 150 acquisitions from a $21 million business with 350 employees in 1984 to a $4.7 billion Fortune 500 company with 20,000 employees and the No. 1 ranking on the FinTech 100 list of technology partners serving the financial-services industry.
George Dalton, Fiserv's co-founder and former chairman and chief executive, says the idea to create a data-processing company for regional FIs turned out to be a good one:
 | We had a great idea — to focus on data processing for banks and build from our foundation of regional operations to create a nationwide enterprise. Now, 25 years later, Fiserv is a global powerhouse, far exceeding anyone's expectations. |  |
Fiserv went public in 1986 as a $70 million data processor. Within four years, Fiserv was serving some of the nation's largest financial institutions.
In 1991, Fiserv entered the commercial bank, international and credit union core account processing markets for the first time, doubling its number of clients with the acquisition of Citicorp Information Resources, a subsidiary of Citicorp. Today, Fiserv sells its solutions in more than 40 countries serving clients around the globe.
In 1995, Fiserv acquired Information Technology Inc. in Lincoln, Neb., gaining the most widely implemented account-processing platform in the United States, Premier.
In 2007, Fiserv made its largest acquisition of its first 25 years, buying CheckFree Corp. And in February of this year, Fiserv announced a new go-to-market strategy that brought all of Fiserv's business units under one name.
Jeffrey Yabuki, Fiserv's president and chief executive, says the next 25 years will focus on delivering technology and innovation.
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