Fiserv Awarded #1 Ranking in FinTech 100; Prestigious Award Validates Market Penetration
Fiserv Awarded #1 Ranking in FinTech 100; Prestigious Award Validates Market Penetration
March 22, 2005
Fiserv Awarded #1 Ranking in FinTech 100; Prestigious Award Validates Market PenetrationFRAMINGHAM, Mass.--March 22, 2005--Fiserv (Nasdaq: FISV), Inc., a leading provider of information management solutions for the financial industry, has been ranked No. 1 in the American Banker and Financial Insights FinTech 100. The new annual ranking -- which lists providers of financial technology based on global sales to financial services companies -- was developed by Financial Insights, an independent research services firm, and American Banker, SourceMedia's flagship daily publication for banking and financial services professionals.
This groundbreaking report was the world's first ranking of financial technology firms, developed through careful evaluation of vertical technology companies that derived more than one-third of their total annual revenues from sales to financial services industry clients.
Since its formation in 1984, Fiserv has grown into a worldwide organization with more than 16,000 clients in more than 60 countries, supported by nearly 22,000 employees. Fiserv supplies a vast array of software and services to the financial services community including core processing, payment processing, mortgage and auto loan solutions, as well as insurance offerings. Through significant scale and market penetration, Fiserv has achieved record-breaking performance and is now officially recognized as the world's number one provider to the financial services community based on the FinTech 100.
"Fiserv has been a long respected supplier to the financial services industry and an early player in the consolidation game, which has placed it center stage within the industry," stated Michon Schenck, chief operating officer at Financial Insights. "To achieve the number one ranking in our industry is quite a coup. It speaks to the highly successful acquisition and integration strategy Fiserv has developed over the past several years but it also reflects a very strong client commitment. Fiserv could not possibly put up the numbers they do and attain the market share they command without very high client retention rates. Clearly, they are one of the best in the industry at this time."
To create the FinTech 100, Financial Insights and American Banker conducted an arduous primary and secondary research effort throughout the year, examining both vertical market providers as well as horizontal technology providers. Candidates were screened to type of offering, quality of revenue and total percent penetration within the financial services industry. The full report was published on November 2, 2004 and is available to online subscribers on American Banker's and Financial Insights web sites. A special condensed supplement is available on Fiserv's web site at http://www.fiserv.com/ or through Financial Insights web site: http://www.financial-insights.com/FI/events/fiserv2004.jsp
"What pleased us most about this ranking was the comparison between the world's largest enterprise technology providers within the financial services arena and the vertical providers in the FinTech 100," stated Norm Balthasar, Fiserv chief operating officer. "We were thrilled to note that our market penetration in the financial services industry puts us on par with companies such as Microsoft, Cisco, and Accenture. This was a quality piece of work by Financial Insights and American Banker and we applaud their efforts in creating this ranking."
About American Banker
For more than 170 years, American Banker, www.americanbanker.com, has been the banking and financial services industry premier daily source of information, news, and analysis. Since 1996, American Banker has offered American Banker Online, an online counterpart to the print publication. In addition to news and analysis provided by American Banker's own journalists, the site offers third-party news services, content from SourceMedia's sister publications focused on banking and financial services news, data, analysis, research, and much more. American Banker offers a one-stop information service to banking and financial services professionals. American Banker is published by SourceMedia (www.sourcemedia.com), a leading provider of information, data, and software tools for professionals in the financial services and related technologies markets.
About Financial Insights, an IDC Company
Financial Insights provides independent research, custom consulting, and detailed multiclient studies on the technology issues and challenges facing the financial services industry. Our global research covers topics of strategic importance to corporate and retail banks, insurance carriers, asset management firms, securities and brokerage firms. Our local practices in Asia Pacific, Europe, Latin America and Canada add an in-depth regional viewpoint. Financial Insights, an IDC company, is headquartered in Framingham, Massachusetts, USA. IDC is a subsidiary of IDG, the world's leading IT media, research, and exposition company.
About Fiserv
Fiserv, Inc. (Nasdaq: FISV) provides information management systems and services to the financial industry, including transaction processing, outsourcing, business process outsourcing and software and systems solutions. The company serves more than 16,000 clients worldwide, including banks, credit unions, financial planners/investment advisers, insurance companies and agents, self-funded employers, lenders and savings institutions. Headquartered in Brookfield, Wis., Fiserv reported $3.4 billion in processing and services revenues for 2004. Fiserv can be found on the Internet at www.fiserv.com.
This groundbreaking report was the world's first ranking of financial technology firms, developed through careful evaluation of vertical technology companies that derived more than one-third of their total annual revenues from sales to financial services industry clients.
Since its formation in 1984, Fiserv has grown into a worldwide organization with more than 16,000 clients in more than 60 countries, supported by nearly 22,000 employees. Fiserv supplies a vast array of software and services to the financial services community including core processing, payment processing, mortgage and auto loan solutions, as well as insurance offerings. Through significant scale and market penetration, Fiserv has achieved record-breaking performance and is now officially recognized as the world's number one provider to the financial services community based on the FinTech 100.
"Fiserv has been a long respected supplier to the financial services industry and an early player in the consolidation game, which has placed it center stage within the industry," stated Michon Schenck, chief operating officer at Financial Insights. "To achieve the number one ranking in our industry is quite a coup. It speaks to the highly successful acquisition and integration strategy Fiserv has developed over the past several years but it also reflects a very strong client commitment. Fiserv could not possibly put up the numbers they do and attain the market share they command without very high client retention rates. Clearly, they are one of the best in the industry at this time."
To create the FinTech 100, Financial Insights and American Banker conducted an arduous primary and secondary research effort throughout the year, examining both vertical market providers as well as horizontal technology providers. Candidates were screened to type of offering, quality of revenue and total percent penetration within the financial services industry. The full report was published on November 2, 2004 and is available to online subscribers on American Banker's and Financial Insights web sites. A special condensed supplement is available on Fiserv's web site at http://www.fiserv.com/ or through Financial Insights web site: http://www.financial-insights.com/FI/events/fiserv2004.jsp
"What pleased us most about this ranking was the comparison between the world's largest enterprise technology providers within the financial services arena and the vertical providers in the FinTech 100," stated Norm Balthasar, Fiserv chief operating officer. "We were thrilled to note that our market penetration in the financial services industry puts us on par with companies such as Microsoft, Cisco, and Accenture. This was a quality piece of work by Financial Insights and American Banker and we applaud their efforts in creating this ranking."
About American Banker
For more than 170 years, American Banker, www.americanbanker.com, has been the banking and financial services industry premier daily source of information, news, and analysis. Since 1996, American Banker has offered American Banker Online, an online counterpart to the print publication. In addition to news and analysis provided by American Banker's own journalists, the site offers third-party news services, content from SourceMedia's sister publications focused on banking and financial services news, data, analysis, research, and much more. American Banker offers a one-stop information service to banking and financial services professionals. American Banker is published by SourceMedia (www.sourcemedia.com), a leading provider of information, data, and software tools for professionals in the financial services and related technologies markets.
About Financial Insights, an IDC Company
Financial Insights provides independent research, custom consulting, and detailed multiclient studies on the technology issues and challenges facing the financial services industry. Our global research covers topics of strategic importance to corporate and retail banks, insurance carriers, asset management firms, securities and brokerage firms. Our local practices in Asia Pacific, Europe, Latin America and Canada add an in-depth regional viewpoint. Financial Insights, an IDC company, is headquartered in Framingham, Massachusetts, USA. IDC is a subsidiary of IDG, the world's leading IT media, research, and exposition company.
About Fiserv
Fiserv, Inc. (Nasdaq: FISV) provides information management systems and services to the financial industry, including transaction processing, outsourcing, business process outsourcing and software and systems solutions. The company serves more than 16,000 clients worldwide, including banks, credit unions, financial planners/investment advisers, insurance companies and agents, self-funded employers, lenders and savings institutions. Headquartered in Brookfield, Wis., Fiserv reported $3.4 billion in processing and services revenues for 2004. Fiserv can be found on the Internet at www.fiserv.com.