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Fiserv acquires CUSO plus mobile prepaid services
BROOKFIELD, Wis. (3/3/11)--Financial services technology solutions provider Fiserv Inc., based in Brookfield, Wis., has made three acquisitions of interest to its credit union clients. It has acquired:
* Credit Union On-Line Inc. (CUOL), a credit union service organization (CUSO) that runs an outsourced version of the XP2 account processing solution from Fiserv. Fiserv acquired the CUSO from CEO Connie Boretti and two credit unions, RTN FCU, Waltham, Mass., and Medical Area FCU, Brookline, Mass. The acquisition will provide Fiserv clients with a choice of either in-house or outsourced delivery of XP2. Credit unions already on the outsourced program will see direct support and improved access to new developments. * Mobile Commerce Ltd. (M-Com), an international mobile banking and payments provider based in Atlanta, Ga., and a partner with Fiserv since 2008. They worked together to develop and deliver Mobil Money from Fiserv. The acquisition will enhance Fiserv's existing mobile channel capabilities. M-Com CEO Adam Clark and all M-Com employees will join Fiserv as part of the transaction. The combination will accelerate the development of solutions for their clients. * Prepaid card processing and other technologies developed by Maverick Network Solutions, a Delaware-based provider of advanced prepaid and reward and incentive card programs. The acquisition will help Fiserv launch a new set of prepaid solutions that will include prepaid processing, turn-key program management, and support of general purpose reloadable and payroll cards for large financial institutions and corporations. The reloadable, brandable cards will be added to payment networks such as CheckFree, RXP, ACCEL/Exchange, ZashPay and CheckFreePay.


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