Fiserv acquires real-time payments platform with Dovetail purchase

 In News

Fiserv Inc., a provider of financial services technology solutions, has acquired Dovetail Group Ltd., a provider of bank payments and liquidity management solutions.

According to a press release, Fiserv plans to combine Dovetail’s real-time payments platform, modular services and configurable business processing rules with its own payment capabilities, allowing financial institutions to unify standalone solutions into a fully integrated payments infrastructure, the release said.

The Dovetail payments platform provides the foundation for Fiserv to offer financial institutions a broader range of solutions and services.

In the U.S., this includes a real-time payments offering with integration into the NOW Network for payments and transfers, the turnkey service for Zelleand The Clearing House Real-Time Payments scheme.

In Europe, the new organization will be in a position to support financial institutions with legacy system replacement and the shift to real-time through SCT Inst (across all operators) and UK Faster Payments, among others.

Elsewhere, Fiserv will be able to support its clients in the move to real-time, the introduction of richer payment information, and Swift gpi, the release said.

“[W]e expect to enable financial institutions to influence and direct a larger share of the payment value chain,” Fiserv President and CEO Jeffery Yabuki said in the release “Together, Dovetail’s strong capabilities and our market-leading solutions create a powerful combination for Fiserv to deliver differentiated value for financial institutions and their customers.”

Financial terms of the deal were not disclosed.

Recent Posts
Contact Us

We're not around right now. But you can send us an email and we'll get back to you, asap.

Not readable? Change text. captcha txt
X