Fiserv Named a Leader in Digital Banking Customer Experience in IDC MarketScape
Fiserv earned recognition for strategic vision and capabilities of its cross-functional digital banking engagement platform
Brookfield, Wis., July 18, 2022 –Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology, has been named a Leader in the IDC MarketScape: North America Digital Banking Customer Experience Platforms 2022 Vendor Assessment.
This recognition comes after a detailed evaluation of both the company’s strategic vision and the capabilities of ArchitectTM from Fiserv, a cross-functional digital banking engagement platform. Through this solution, a part of its robust digital suite, Fiserv offers highly customizable capabilities for clients who want the flexibility to customize and create unique, innovative digital experiences that exceed customer expectations.
“Digital banking has evolved into a full ecosystem of capabilities that people rely on to manage their financial lives, so creating an engaging digital experience is key to establishing and fortifying customer relationships,” said Whitney Stewart Russell, president of Digital Solutions at Fiserv. “Fiserv digital solutions can be tailored to meet the unique needs of each financial institution, enabling them to advance their digital strategies and deliver the experiences their customers expect.”
Through its digital banking suite, Fiserv offers a comprehensive set of integrated solutions mapped to real-world customer and member journeys — from opening accounts to making payments and managing money. The Architect SDK toolkit has customization capabilities that enable financial institutions to develop custom software modules. The platform also allows financial institutions to connect into third-party vendors through an open banking framework, which supports API and single sign-on integrations, enabling a seamlessly connected ecosystem to unite the best in digital fintech experiences.
Architect has the flexibility to be deployed on premises, hosted by Fiserv, or deployed in a public or private cloud.
“Each financial institution will come up with its own requirements to build, renew, or replace its digital banking solution,” said Marc DeCastro, research director at IDC Financial Insights. “Banks, credit unions and challenger banks should consider Fiserv when they are looking to provide a core-agnostic, modern digital banking platform solution that can be deployed in any environment. Architect is also a fit for current Fiserv partners who want the ability to leverage one vendor for both their core and digital self-service products.”
The IDC MarketScape evaluated 11 vendors that provide self-service digital banking solutions to the North America market. Each vendor provided a detailed assessment of their strategies and current capabilities. Then, reference clients for each vendor were interviewed to determine the vendors’ ability to meet their clients’ strategic needs and requirements. For this study, IDC defined digital banking customer experiences as solutions offered to retail customers across online, mobile and tablet channels.
In addition to being named a Leader in the IDC MarketScape, Fiserv topped the 2021 IDC FinTech rankings.
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.
- Architect from Fiserv - fisv.co/Architect
About IDC MarketScape
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors
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 and business management platform. Fiserv is a member of the S&P 500® Index, the FORTUNE® 500, and has been recognized as one of FORTUNE World's Most Admired Companies® for 11 of the past 14 years and named among the World’s Most Innovative Companies by Fast Company for two consecutive years. Visit fiserv.com and follow on social media for more information and the latest company news.
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