First Trade Date for Fiserv, Inc.
|Company Name||First Trade Date (yyyy-mm-dd)|
|History and Business of Company|
(this information may include date of incorporation)
Fiserv, Inc. (FISV) is a technology resource for information management systems used by the financial industry. Headquartered in Brookfield, WI, the company provides information management technology and related services to banks, broker-dealers, credit unions, financial planners and investment advisers, insurance companies, leasing companies, mortgage lenders and savings institutions. The company operates centers nationwide for full- service financial data processing, software system development, item processing and check imaging, technology support and related product businesses. In addition, FISV has business support centers in Australia, Colombia, Indonesia, the Philippines, Poland, Singapore and the UK.|
All the company's core systems can be complemented with a number of other products that allow clients to create a total servicing solution, depending on their requirements. These complementary products and back-office solutions include treasury and investment management, decision support and performance measurement solutions, electronic funds transfer services, imaging systems, human resource information systems, call center systems, loan origination and tracking, auto leasing software, data warehousing/data mining and credit services.
Revenues increased $246,061,000 in 2000 and $173,875,000 in 1999. Revenue growth in 2000 and 1999 was derived from sales to new clients, cross-sales to existing clients, growth in the transaction volume experienced by existing clients, price increases and revenues from acquired businesses. Revenues from acquired businesses approximated 40% and 45% of total revenue growth in 2000 and 1999, respectively.
In September 2001, FISV announced it had completed its previously announced agreement to acquire the item processing business of the Federal Home Loan Bank of Pittsburgh. Through this agreement, the company has added two FHLBank item processing facilities in Pittsburgh and Conshohocken, located outside Philadelphia. The two item processing facilities provide a full range of check and document services to approximately 120 financial institutions throughout Pennsylvania, Delaware and West Virginia. Combined, the two operations process approximately 120 million items annually. With completion of this latest acquisition, FISV now processes more than 4.6 billion items annually at facilities located throughout North America.
INCORPORATED in Wisconsin Feb. 19, 1992, as FIserv Wisconsin, Inc., a wholly owned subsidiary of FIserv, Inc., and on Apr. 30, 1992, merged parent on a 1-for-1 basis and adopted its title. Name changed from FIserv, Inc. to Fiserv, Inc. Mar. 21, 1996. Former parent was incorporated in Delaware Apr. 17, 1984 to acquire on July 31, 1984, all shares of FIserv Milwaukee, Inc. and FIserv Georgia, Inc. (both began operations Jan. 13, 1984) in exchange for 2,370,000 Common shares and 625,000 Common shares, respectively. April 1, 1991, acquired the capital stock of CIR from Citicorp for $42,700,000 cash and paid Citicorp an additional $6,000,000 cash in respect of Citicorp's agreement not to compete with the company. February 10, 1993, acquired Basis Information Technologies, Inc. for $96,500,000. OFFICE- 255 Fiserv Drive, Brookfield, WI, USA 53045 (Tel.: 262-879-5000). Fax - 262-879- 5275. WEBSITE-http://www.fiserv.com.
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