More trials and tribulations for mergers and acquisitions
In 2022, Fiserv announced it signed a definitive agreement to acquire Finxact, Inc. (Finxact), a developer of a cloud-native banking solution. The acquisition will cost Fiserv $650 million once it finalizes the agreement. Finxact’s capabilities are conducive to Fiserv’s expanding its digital banking strategy, by making Fiserv more attractive to clients who need help transitioning into the digital sphere. Specifically, Finxact will bring together its highly flexible and scalable API-first capabilities with the digital financial solutions portfolio of Fiserv.
Product Innovation|New Activity|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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