Information Technology, Inc. Is Now Fiserv
Information Technology, Inc. Is Now Fiserv
February 23, 2009
Brookfield, Wis., February 23, 2009 – Information Technology, Inc. (ITI) is now Fiserv. ITI, founded in 1976, and acquired in 1995 by Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions; today announced it is changing its name to Fiserv. All Fiserv business units are coming together to create one new, enhanced market approach. The new, unified brand identity, affirms the company’s commitment to its clients and to leading the transformation of the financial services industry. The new icon is representative of a further acceleration in Fiserv’s singular approach to the market and better anticipating changing client demands within a rapidly evolving environment.
ITI, with more than 1,100 employees in six states, is one of the nation’s best-known banking technology providers. The company’s comprehensive suite of integrated software and services is used by more than a third of American financial institutions, from start-up banks to those with billions in assets. ITI’s feature-rich core banking software enables financial institutions to deliver best-in-market service to their customers, whether banking at a branch, an ATM, on the Internet, or now by cell phone and PDA. ITI employs 750 professionals in Lincoln and another 375 in Sioux Falls, S.D., Birmingham, Ala., Onalaska, Wis., Corvallis, Ore. and Norcross, Ga.
Until today, the company has operated under the same ITI name it has been known by since its founding, but will now do business as Fiserv. Close cooperation and tight organizational integration with the much larger parent company, a process begun many years ago, will continue and accelerate.
“We are proud to call Lincoln home, and that is not changing,” said Tom Cypher, president, Bank Solutions from Fiserv. “The same talented professionals will be building and supporting the next generation of financial services products from our South Lincoln campus, and from our offices nationwide. Our long history of providing clients with comprehensive banking software and services will continue as always, but now we’ll do it under the powerful Fiserv name and brand. We’re moving forward with all the strength and innovation that our newly integrated Fortune 500 Company stands for.”
This new Fiserv brand identity marks a fundamental shift in the company’s approach to the market that began in 2006, when President and Chief Executive Officer Jeffery Yabuki reorganized the company around the Fiserv 2.0 strategic framework. This “2.0” vision of moving Fiserv to the next level was accelerated by the acquisition of financial technology innovators CheckFree, NetEconomy, Corillian and BancIntelligence. Today Fiserv clients have access to proven technologies and best practices available across a broad spectrum of online, mobile, front and back office, payments and processing infrastructures upon which financial institutions and corporations depend.
“We are focusing all of our technology expertise under one brand and one name, Fiserv. The financial landscape has changed forever for our clients, and we are prepared with innovative products and technologies to lead the transformation forward. This new brand strategy will allow Fiserv to build on our 25-year history of unparalleled client focus, strength and stability, and make it easier and even more rewarding to do business with our company,” said Yabuki.
Jeanne Capachin, research vice president of global banking for Financial Insights, has covered Fiserv as an analyst for two decades, most recently to compile the FinTech list of top technology providers in the financial industry. To her, the master brand strategy is a good move for Fiserv. “I’ve seen a lot of market consolidation since we started the FinTech 100. For 25 years Fiserv has been a very successful holding company, acquiring companies and allowing them to function independently. As the market leader, it is to the company’s advantage to align all of their assets in a cohesive manner. This change will allow Fiserv to focus all its technology expertise, and energies on one brand and one structure.”
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) is the leading global provider of information management and electronic commerce systems for the financial services industry, driving innovation that transforms experiences for financial institutions and their customers. Ranked No. 1 on the FinTech 100 survey of top technology partners to the financial services industry, Fiserv celebrates its 25th year in 2009. For more information, visit www.fiserv.com.
For more information contact:
David Carden
Senior Vice President, Marketing
Bank Solutions
Fiserv, Inc.
Formerly Information Technology, Inc.
402-421-4211
david.carden@fiserv.com
Fiserv Corporate Contact
Lori Stafford-Thomas
Assistant Vice President Corp. External Comm.
Fiserv, Inc.
262-879-5130
lori.stafford@fiserv.com
ITI, with more than 1,100 employees in six states, is one of the nation’s best-known banking technology providers. The company’s comprehensive suite of integrated software and services is used by more than a third of American financial institutions, from start-up banks to those with billions in assets. ITI’s feature-rich core banking software enables financial institutions to deliver best-in-market service to their customers, whether banking at a branch, an ATM, on the Internet, or now by cell phone and PDA. ITI employs 750 professionals in Lincoln and another 375 in Sioux Falls, S.D., Birmingham, Ala., Onalaska, Wis., Corvallis, Ore. and Norcross, Ga.
Until today, the company has operated under the same ITI name it has been known by since its founding, but will now do business as Fiserv. Close cooperation and tight organizational integration with the much larger parent company, a process begun many years ago, will continue and accelerate.
“We are proud to call Lincoln home, and that is not changing,” said Tom Cypher, president, Bank Solutions from Fiserv. “The same talented professionals will be building and supporting the next generation of financial services products from our South Lincoln campus, and from our offices nationwide. Our long history of providing clients with comprehensive banking software and services will continue as always, but now we’ll do it under the powerful Fiserv name and brand. We’re moving forward with all the strength and innovation that our newly integrated Fortune 500 Company stands for.”
This new Fiserv brand identity marks a fundamental shift in the company’s approach to the market that began in 2006, when President and Chief Executive Officer Jeffery Yabuki reorganized the company around the Fiserv 2.0 strategic framework. This “2.0” vision of moving Fiserv to the next level was accelerated by the acquisition of financial technology innovators CheckFree, NetEconomy, Corillian and BancIntelligence. Today Fiserv clients have access to proven technologies and best practices available across a broad spectrum of online, mobile, front and back office, payments and processing infrastructures upon which financial institutions and corporations depend.
“We are focusing all of our technology expertise under one brand and one name, Fiserv. The financial landscape has changed forever for our clients, and we are prepared with innovative products and technologies to lead the transformation forward. This new brand strategy will allow Fiserv to build on our 25-year history of unparalleled client focus, strength and stability, and make it easier and even more rewarding to do business with our company,” said Yabuki.
Jeanne Capachin, research vice president of global banking for Financial Insights, has covered Fiserv as an analyst for two decades, most recently to compile the FinTech list of top technology providers in the financial industry. To her, the master brand strategy is a good move for Fiserv. “I’ve seen a lot of market consolidation since we started the FinTech 100. For 25 years Fiserv has been a very successful holding company, acquiring companies and allowing them to function independently. As the market leader, it is to the company’s advantage to align all of their assets in a cohesive manner. This change will allow Fiserv to focus all its technology expertise, and energies on one brand and one structure.”
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) is the leading global provider of information management and electronic commerce systems for the financial services industry, driving innovation that transforms experiences for financial institutions and their customers. Ranked No. 1 on the FinTech 100 survey of top technology partners to the financial services industry, Fiserv celebrates its 25th year in 2009. For more information, visit www.fiserv.com.
For more information contact:
David Carden
Senior Vice President, Marketing
Bank Solutions
Fiserv, Inc.
Formerly Information Technology, Inc.
402-421-4211
david.carden@fiserv.com
Fiserv Corporate Contact
Lori Stafford-Thomas
Assistant Vice President Corp. External Comm.
Fiserv, Inc.
262-879-5130
lori.stafford@fiserv.com