FINTECH

Fiserv to Acquire Digital Experience Platform Ondot Systems

Fiserv, Ondot | December 28, 2020

Fiserv, Inc. a main worldwide supplier of financial services technology solutions, today reported that it has consented to a conclusive arrangement to obtain Ondot Systems, Inc. a main digital experience stage for financial institutions. The transaction will additionally grow Fiserv digital capacities, upgrading its set-up of coordinated solutions to empower clients, everything being equal, to convey frictionless, digital-first and personalized experiences to their buyers.

Established in 2011, Ondot processes more than 1 billion transactions per month and gives digital abilities to more than 30 million cards. Fiserv plans to additionally build up the Ondot stage's extraordinary interchange between continuous approval, client setting, and man-made reasoning ("AI") to draw in clients in-the prior second, during and after transactions.

“The importance of digital has accelerated and consumers are increasingly turning to online and mobile banking, as well as contactless payments experiences,” said Frank Bisignano, President and Chief Executive Officer of Fiserv. “By combining Ondot and Fiserv capabilities at scale, we plan to provide our clients with a unified digital experience, spanning card-based payments, digital banking platforms, core banking, and merchant solutions, enabling them to deliver best-in-class solutions that continue to reduce friction for their customers. We look forward to welcoming the talented Ondot team to the Fiserv family as we continue to help our clients deliver innovative ways for their customers to actively manage their financial lives at the point of thought.”

With the integration of Ondot, Fiserv will assist clients with quickening digital client securing, drive digital business, increment card initiation and utilization, lessen administration costs, and connect logically in minutes that issue all by means of readymade solutions for clients. For instance, cardholders can profit by moment card issuance and utilization, as well as unprecedented visibility into purchases through enriched transaction information and actionable insights to spend smarter. Chargebacks and client assistance calls are habitually the consequence of a cardholder not perceiving a transaction. Information improvement from Ondot puts together and distinguishes transaction and shipper information, permitting clients to all the more effectively perceive their buys and comprehend their spending designs, bringing about higher commitment and less help calls and questions. With these all encompassing customer confronting experiences and customer confronting apparatuses, card guarantors can convey present day digital card services rapidly on top of their current preparing framework.

“The Fiserv aspiration to move money and information in a way that moves the world fully resonates with Ondot’s mission,” said Vaduvur Bharghavan, President and Chief Executive Officer of Ondot Systems. “Joining with Fiserv will provide Ondot the opportunity to innovate and impact the industry on a global scale. We look forward to expanding the scope of our offerings as we integrate with Fiserv’s vast array of capabilities to continue providing high-quality digital solutions to consumers, merchants, acquirers, networks and card issuers.”

About Ondot
Founded in 2011, Ondot provides more than 4,500 banks and credit unions with a digital card services platform to drive cardholder engagement. From community issuers to top global banks, Ondot enables financial institutions to offer in-the-moment convenience, control, and transparency for credit and debit cards, leading to higher usage, lower cost, and reduced fraud. To learn more about Ondot Systems

About Fiserv
Fiserv, Inc. aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale solution. Fiserv is a member of the S&P 500® Index and the FORTUNE® 500 and is among FORTUNE World’s Most Admired Companies®.

Spotlight

In today’s highly regulated global landscape, there is an expectation, especially among C-suite executives, that operational leaders will advance the organization’s strategic goals. Eighty-five percent of C-suite executives at firms with above-average adaptability say that operational leaders have been very effective in designing or implementing improvements that drive value to their business.

Spotlight

In today’s highly regulated global landscape, there is an expectation, especially among C-suite executives, that operational leaders will advance the organization’s strategic goals. Eighty-five percent of C-suite executives at firms with above-average adaptability say that operational leaders have been very effective in designing or implementing improvements that drive value to their business.

Related News

WEALTH MANAGEMENT

Orion Successfully Acquires TownSquare Capital

TownSquare Capital | July 04, 2022

TownSquare Capital (TownSquare), a boutique, full-service investment and trading platform with an institutional attitude on portfolio construction, was acquired by Orion Advisor Solutions, a leading developer of transformative wealth tech solutions for fiduciary advisors, today. Details of the transaction won't be made public. "Today, we officially add TownSquare to our wealth management business, creating more value for advisors seeking a highly integrated, most-in-one technology suite. The combined wealth management platform will come to market quickly, providing financial advisors a single-source solution to prospect, plan, invest and achieve," -Eric Clarke, founder and CEO of Orion. TownSquare helps give growth-focused independent advisors access to a greater selection of investment products, solutions, and trading skills by adding an additional $6 billion in TAMP assets to Orion's wealth management platform offering. "Combining TownSquare with Orion's wealth management and advisor technology capabilities brings tremendous value to financial advisors and their clients. With the full weight of Orion's resources and relationships behind us, we can continue providing best-in-class investment strategies to the advisors and clients we serve," -Kurt Brown, Chief of OCIO Services at Orion. TownSquare will continue to run as a stand-alone company for the foreseeable future, serving both a brand entity and a wholly-owned indirect subsidiary of Orion Advisor Solutions. As a result, existing TownSquare and Orion customers shouldn't anticipate any changes to their present services, and they will be among the first to take advantage of the merged company's expanded capabilities.

Read More

BITCOIN AND CRYPTO

MoneyGram Launched Global Crypto-to-cash Service on the Stellar Network

MoneyGram | June 13, 2022

MoneyGram and Stellar Development Foundation announced the initial roll-out of a first-of-its-kind global on/off-ramp service for digital wallets to increase the utility of digital assets by creating a bridge between cash and cryptocurrencies. The service, which is the result of a partnership announced in October 2021 between MoneyGram and SDF, is now available in several key remittance markets, including Canada, Kenya, the Philippines, and the United States, for the first wave of users, with global cash-out functionality expected to be available by the end of June 2022. MoneyGram will provide this service free for the first year to support development. The collaboration focuses on offering a revolutionary settlement service. The first time, settlement with MoneyGram will occur near-real-time utilizing USDC, one of the dollar digital currencies with the quickest growth rate. This expedites the collecting of cash, increasing efficiency and decreasing risk. With the debut of this service, users of digital wallets may shift from cash to cryptocurrencies and back to cash without needing a bank account or credit card. In addition, consumers may now visit a MoneyGram facility to either load their digital wallets to access the digital economy or cash out their digital currencies to raise the value of their holdings. Users of the Stellar-connected digital wallets Vibrant and LOBSTR may now utilize this service at MoneyGram's international retail locations. Additional Stellar-connected wallets will be added soon. This service also establishes a developer platform that will enable additional wallets and service providers within the Stellar ecosystem and beyond to increase the functionality and reach of MoneyGram's integration with the Stellar network. Elliptic, a worldwide leader in crypto asset risk management, will supply MoneyGram with strong blockchain analytics tools. Wyre, a global pioneer in blockchain payments APIs, will assist other wallets, beginning with Airtm, a digital dollar account, in integrating with the MoneyGram service. MoneyGram will expand the cash-in service to seven additional countries by June. At that time, cash-out capabilities will also be accessible internationally, where authorized by law.

Read More

CORE BANKING

Save® Launches Market Savings Program in Collaboration With Webster Bank

Save | June 01, 2022

Save®, a prominent fintech company, launched a first-of-its-kind savings program called the Market Savings program. The firm announced that it has signed an agreement with Wester Bank N.A., a premier bank in the Northeast that offers a wide berth of financial and digital banking products to individual and commercial customers. The savings account will be made available to Save® customers who opt into the program on the Savetech platform. We're excited to work with Webster Bank to build an entirely new approach to savings. By adding the Market Savings program to our platform, we're able to better support our customers' financial and savings goals at a time when low rates, high inflation, and market volatility are top of mind." said Michael Nelskyla, Founder and CEO, Save Save is an SEC-registered investment expert. The firm expects the return potential of the Market Savings program to be higher than the traditional high-yield interest savings account. Customers who opt for the program will have their deposits held in savings accounts at the Webster Bank with an FDIC insurance for the standard maximum deposit insurance. We look forward to working with Save on this innovative savings product. Save is focused on innovative, digital offerings and has an approach that differentiates Save in the consumer space."Matthew Smith, Executive Managing Director at Webster Bank. Save is on a mission to change the way people build wealth. Our Savetech platform can fundamentally change how people save." saidAdam Watts, President and COO of Save.

Read More