Fiserv, Inc. (FISV) recently announced that American Stock Transfer & Trust Company, LLC (AST) has implemented its Frontier enterprise reconciliation solution. The Frontier solution from Fiserv will enable AST to manage its reconciliation and exception management process in North America. In addition, Frontier will assist AST with efficient risk management and compliance controls relating to regulatory requirements, further reducing exposure to risk, which is critical to AST’s international operations and customer base.
AST stated that the Frontier solution will also enable it to move from a multi-system reconciliation process to a fully automated function that provides a single source of data for the company’s cash and stock positions, together with a full audit trail and comprehensive reporting. The reconciliation of data on a single platform will enable the company to realize greater operational efficiencies.
Earlier, Fiserv and Investance announced a strategic consulting partnership focussing on delivering financial crime risk management and reconciliation expertise to the financial services community.
Management stated that the solution is currently live in the United States with Canadian operations slated to go live by the end of September.
Earlier, Fiserv also collaborated with Microsoft (MSFT) as a business partner supporting key aspects of Microsoft Corp.’s device strategy – Windows Phone, Windows-based tablet devices and Microsoft Surface 2.0.
Aperio from Fiserv is a customer interaction solution based on Microsoft technologies that primarily serves financial services firms track customer interactions across multiple channels and help them proactively make decisions about how to interface with customers on a real-time basis. Fiserv is currently collaborating with Microsoft to extend the cross-channel customer relationship and servicing capabilities of Aperio to the mobile channel through Windows Phone.
Last week, Fiserv completed its acquisition of CashEdge, Inc. for $465 million, in an attempt to expand digital payments and channel strategies.
Fiserv continues to focus on growth, especially high-quality revenue growth and introduction of innovative products. We have a Neutral recommendation on Fiserv. However, we have a Zacks #2 Rank on the stock which translates into a short-term rating of Buy.
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