BROOKFIELD, Wis.--(BUSINESS WIRE)-- Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that it has been named a finalist for the Innovative Applications in Analytics Award, presented by The Institute for Operations Research and the Management Sciences (INFORMS). Other finalists include Ford Motor Company and IBM, with the winner to be announced at the Spring 2014 Analytics Conference in Boston, Mass.
The Fiserv entry, "Price & Revenue Optimization for One of the Largest Acquiring Banks in South America" detailed how Fiserv enabled a leading merchant acquirer to enhance revenue and profitability in its mass market merchant segment. Through a combination of statistical segmentation and analytical price modeling, Fiserv helped the client understand merchant pricing sensitivity by using econometric models on various market segments, and optimized price for each merchant to improve profitability without loss of market share. Through a pilot campaign designed with the assistance of Fiserv, the merchant acquirer increased incremental revenue more than 150 percent compared to a control group.
"INFORMS supports leading-edge scholarship around the science and application of analytics, so to be named a finalist for this award is validation of our deep expertise in analytics and its practical application in financial services," said Aditya Khandekar, business line executive, Analytics and Business Intelligence Services, Fiserv. "As the financial services industry faces increasing pressures on profitability, Fiserv is helping clients move beyond the buzzwords to drive real results from innovation in big data and analytics."
Analytics and Business Intelligence Services from Fiserv helps financial institutions harness the power of data in financial systems to improve decision making, manage cost proactively, drive revenue growth and reduce customer attrition.
About INFORMS
The Institute for Operations Research and the Management Sciences (INFORMS®) is the leading professional society made up of the foremost minds in the world of analytics. More than 10,000 members worldwide, including Nobel Prize laureates, turn to INFORMS to provide leading industry best practices, training and events focused on data analytics and operations research. Members of INFORMS work in business, government and academia and represent fields as diverse as airlines, health care, law enforcement, the military, financial services, retail, engineering and telecommunications. The Society serves the scientific and professional needs of operations research analysts, experts in "big data" and analytics, consultants, scientists, students, educators and managers, as well as their institutions. It publishes a variety of journals, hosts conferences, extends certification in analytics (CAP), offers continuing education courses, and provides its members with a large choice of special interest groups and local chapters. Further information about INFORMS can be found online at www.informs.org or @INFORMS.
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) is a leading global technology provider serving the financial services industry, driving innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For more information, visit www.fiserv.com.
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Media Relations:
Wade Coleman
Director, Public Relations
Fiserv, Inc.
678-375-1210
wade.coleman@fiserv.com
or
Additional Contact:
Julie Nixon
Senior Public Relations Manager
Fiserv, Inc.
678-375-3744
julie.nixon@fiserv.com
Source: Fiserv, Inc.
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