Integration of AllData Aggregation from Fiserv with Verady will provide consumers a view of cryptoassets alongside other financial data
BROOKFIELD, Wis.--(BUSINESS WIRE)--Jun. 7, 2021--
Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, will enable consumers to share data on their cryptoasset holdings with their fintech apps and service providers, including a broad array of financial institutions, wealth managers, and lenders, enhancing consumers’ financial management and control as cryptoasset investing reaches the mainstream.
This first-in-market capability will be enabled through the integration of AllData® Aggregation from Fiserv with Verady, the leading provider of cryptocurrency tax, accounting, and audit technology products and integrations. AllData Aggregation enables thousands of financial institutions, fintechs and other companies to access data and facilitate transactions across existing and emerging applications, and tens of millions of consumers to connect to their bank account, billing, card, mortgage and other data through the third parties of their choosing.
The integration is particularly timely as an estimated 46 million U.S. consumers now own a cryptoasset.
According to James Wester, research director of IDC's Worldwide Blockchain Strategies research practice, the gradual adoption of bitcoin and cryptocurrencies by corporations and financial institutions signals a broader acceptance within financial services that will require support from a new set of products and services.
"The inclusion of cryptoassets into standard account aggregation views is an early example of what is likely to be a proliferation of such crypto-driven services,” said Wester.
“Cryptoassets continue to grow in importance as they make their way into the portfolios of mainstream investors, who need and want to share asset information with their wealth managers, lenders, tax preparers and fintech apps,” said Byron Vielehr, chief digital and data officer at Fiserv. “Now, in addition to the wide array of financial information we already aggregate, including bank account, bill payment and loan information, AllData Aggregation will provide ongoing visibility into cryptoasset investments, all through the aggregation platform these providers rely upon today.”
“The integration of our Ledgible platform's cryptoasset data capabilities into AllData Aggregation brings a singular solution to the industry,” said Kell Canty, CEO at Verady. “As this emerging asset class continues to rapidly expand in adoption and value, the number of people holding cryptoassets is exploding as well. It is critical to deliver the data consumers, financial advisors, and businesses need to actively manage these investments and report on their performance and tax.”
In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.
Fiserv, Inc. (NASDAQ:FISV) 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®. Visit fiserv.com and follow on social media for more information and the latest company news.
Verady, Inc. (https://ledgible.io) The Ledgible software platform from Verady is the bridge between cryptoasset data and traditional financial reporting. Through its Ledgible platform, the company provides AICPA-SOC assured tracking and reporting of cryptoasset data for Tax, Accounting and Confirmation. Consumers, Businesses, and financial professionals can account and report on cryptoassets by automatically syncing financial information directly from blockchain and exchange activity using the industry leading software platform.
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Ann S. Cave
Vice President, External Communications
Manager, Public Relations
Source: Fiserv, Inc.