Fiserv, Inc.
(
FISV
) recently declared that Oak Bank has adopted its Premier bank
platform, outsourced banking solution services and a wide range of
its digital solution services. The bank chose Fiserv given its
highly developed technology and its advanced, scalable and
integrated systems.
Headquartered in Chicago, Oak Bank has assets worth $218
million. With the help of Fiserv's services, the bank hopes to
expand its market coverage and provide better service to its
clients.
From now on, Oak Bank will be able to deploy Fiserv's Premier
bank platform. Apart from that, it will also gain access to a range
of Fiserv's service offerings, which include CheckFree RXP and
CheckFree Small Business for bill payment solutions; Mobiliti for
mobile banking services, Business Online and Retail Online for net
banking, Branch Source Capture and Merchant Source Capture for easy
check capture, Business Process Manager to control new accounts and
process management, and Fiserv Clearing Network to provide
solutions for image exchange and debit card processing.
These integrated user-friendly solutions by Fiserv would make
the entire account processing system easier, more secure and risk
free for Oak Bank and augment its business going forward. Oak
Bank's vice president and CFO, Rob Sullivan, is hopeful that
Fiserv's technologically advanced services will fulfill the bank's
requirements and exceed expectations. Fiserv's management expressed
its enthusiasm on the association by stating that it will add
another feather to its cap.
The company appears quite proactive in winning contracts of
late. On September 13, 2012, the company declared that its latest
account processing portal, Acumen, has been adopted by MIDFLORIDA
Credit Union. These associations are likely to bolster the
company's growth going forward.
However, even with such moves, it is always wise for Fiserv to
be extra cautious of competitive strides in the industry. The
company's primary competitors include big players such as
Mastercard Incorporated
(
MA
),
Fidelity National Information Services, Inc.
(
FIS
) and
Total System Services, Inc.
(
TSS
). Moreover, Fiserv faces an ongoing threat from billers and
self-sufficient financial institutions that develop and use their
own electronic payment transactions and Internet banking
solutions.
The current Zacks Consensus Estimates for Fiserv, Inc. are $1.27
and $5.18 for the third quarter of 2012 and for 2012, respectively.
The estimates represent a year-over-year growth of 9.82% for the
third quarter and 13.06% for 2012. We currently have a long-term
'Neutral' recommendation for Fiserv. The stock carries a Zacks #3
Rank, which translates into a short-term 'Hold' rating.
FIDELITY NAT IN (FIS): Free Stock Analysis
Report
FISERV INC (FISV): Free Stock Analysis Report
MASTERCARD INC (MA): Free Stock Analysis Report
TOTAL SYS SVC (TSS): Free Stock Analysis Report
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