Fiserv has ramped up its payments hand by agreeing a deal to acquire bank payments and liquidity management solution provider Dovetail.

Fiserv will combine Dovetail’s real-time payments platform, modular services and configurable business processing rules with its in-house payment capabilities, enabling financial institutions to unify discrete solutions into a fully integrated payments infrastructure.

“As payments transform at the speed of life, we expect to enable financial institutions to influence and direct a larger share of the payment value chain,” said Jeffery Yabuki, President and Chief Executive Officer, Fiserv. “

Together, Dovetail’s strong capabilities and our market-leading solutions create a powerful combination for Fiserv to deliver differentiated value for financial institutions and their customers.”

Dovetail’s payments platform will provide the foundation for Fiserv to offer financial institutions a broader range of solutions and services. In the US, this includes the foundation for advancing its PEP+ ACH processing solution and a comprehensive real-time payments offering with integration into the NOW Network for payments and transfers, the Turnkey Service for Zelle and The Clearing House Real-Time Payments scheme.

In Europe, the new organisation will be in a strong position to support financial institutions with legacy system replacement and the shift to real-time through, for example, SCT Inst (across all operators) and UK Faster Payments.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Elsewhere globally, Fiserv will be able to support its clients in the move to real-time, the introduction of richer payment information, and SWIFT gpi.

“Dovetail has an established track record of delivering industry-leading payments transformation capabilities to banks of all sizes worldwide,” said Martin Coen, Chief Executive Officer, Dovetail.

“Joining Fiserv should dramatically accelerate our strategy to provide broad access to our payments platform and services, and to unlock greater value for financial institutions as they seek to modernise their payments infrastructure to support a real-time, digital experience for their customers.”

At the time Fiserv’s traditional rivals FIS acquired Clear2Pay in 2014, there was some analyst comment that Fiserv lacked in-house enterprise-strength payments solutions in demand by larger financial institutions globally.

The Dovetail acquisition successfully answers such comments. Following on from the Misys deal to buy D+H to form Finastra it seems safe to forecast that further mergers and acquisition activity in the specialist core processors and payments space can be expected.