Financial institutions

Fiserv accelerates open finance and enables collaboration between financial institutions and fintechs with the launch of AppMarket

AppMarket enables financial institutions to offer fintech functionality as part of the banking experience

BROOKFIELD, Wis., April 26, 2022–(BUSINESS WIRE)–Financial institutions can access a curated set of fintech solutions that can help them reach new customers, operate more efficiently and be more competitive with the launch of Fiserv’s AppMarket (NASDAQ: FISV), a leading global provider of payment technology solutions and financial services.

Fintech solutions available on AppMarket will enable clients of Fiserv’s financial institutions to use open funding strategies to address emerging opportunities in crypto-finance, on-demand economic banking, small and medium lending businesses (SMEs) and other priorities. AppMarket will help financial institutions of all sizes accelerate time to market, deliver tailored services to target markets, and appeal to younger generations.

Adoption of fintech apps is widespread. Fiserv’s recent Expectations & Experiences: Fintech Adoption consumer trends survey found that 86% of consumers are using some sort of fintech app. This trend can jeopardize financial institutions’ revenues and dilute customer relationships. By partnering with fintechs to quickly integrate exciting new features into their offerings, financial institutions can expand their relationships with their customers while diversifying and increasing their revenue.

“The effectiveness of fintech providers is now measured not just by the strength of their individual solutions, but by the breadth and openness of the ecosystems they provide – by how easily they allow customers to tap into an array of fintech solutions and providers,” said David Albertazzi, Director, Retail Banking and Payments at Aite-Novarica Group. “Fiserv enables its customers to leverage fintech to differentiate their offerings and appeal to digital-first consumers.”

Milford Bank is one financial institution that has embarked on a new fintech partnership with the help of Fiserv.

“We were looking for a partner to help meet the borrowing needs of small business clients in an efficient manner. Together with StreetShares and Fiserv, we are able to provide an easy to use platform that supports the soul of the communities we serve – small businesses,” said Jorge Santiago, executive vice president of Milford Bank, which implemented Atlas Business Lending, an end-to-end digital small business lending solution from StreetShares.

“Last year, Fiserv took a major step in our open finance initiative by releasing standardized APIs to our banking platforms through Developer Studio, giving developers the ability to integrate once and connect across multiple Fiserv cores,” said Niranjan Ramaswamy, Vice President of Embedded Fintech. at Fiserv. “The launch of AppMarket is the next big step in fostering innovative collaboration between financial institutions and fintechs, to their mutual benefit and to the benefit of consumers around the world.”

Fintechs offering their solutions on AppMarket will have access to thousands of Fiserv partner financial institutions and the millions of consumers they serve. In the future, fintechs will be able to connect with sponsor banks through AppMarket and select Fiserv services to enhance their digital experiences, such as Ledger as a Service and Know Your Customer (KYC) as a Service.

With AppMarket and Developer Studio, Fiserv continues to help customers deliver solutions that align with the way people live and work today – financial services at the pace of life.

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in ways that move the world. As a global leader in payments and fintech, the company helps its customers achieve the best results through a commitment to innovation and excellence in areas such as account processing and digital banking solutions; card issuer processing and network services; Payments; e-commerce; acquiring and processing merchants; and the Clover® cloud-based point-of-sale and commerce management platform. Fiserv is a member of the S&P 500® Index, the FORTUNE® 500, and has been recognized as one of the FORTUNE® World’s Most Admired Companies for 11 of the past 14 years and named one of the World’s Most Innovative Companies by Fast Company for two consecutive years. years. Visit fiserv.com and follow social media for more information and the latest company news.

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contacts

Ann S. Cave
Vice President, External Communications
Fiserv, Inc.
+1 678-325-9435
a[email protected]