BROOKFIELD, Wis.–Fiserv said it acquired Dovetail Group, Ltd., a leading provider of bank payments and liquidity management solutions. The company said the acquisition further enables its ability to help financial institutions around the world transform their payments infrastructure to meet the evolving needs of wholesale, commercial and retail customers. Financial terms were not disclosed.
“As the global payments landscape evolves, financial institutions of all sizes are challenged to modernize their payments infrastructure and provide enhanced capabilities that improve payment outcomes, leverage efficiency, and maintain the highest standards of security and resilience,” the company said. “Through this acquisition, Fiserv will combine Dovetail’s real-time payments platform, modular services and configurable business processing rules with its market-leading payment capabilities, enabling financial institutions to unify discrete solutions into a fully integrated payments infrastructure.”
The company added that the enhanced platform will provide intelligent, data-driven payment processing and deliver the flexibility to integrate new capabilities and payment types at the speed of payments evolution.
“As payments transform at the speed of life, we expect to enable financial institutions to influence and direct a larger share of the payment value chain,” said Jeffery Yabuki, President and Chief Executive Officer, Fiserv, in a statement. “Together, Dovetail’s strong capabilities and our market-leading solutions create a powerful combination for Fiserv to deliver differentiated value for financial institutions and their customers.”
Built with real-time in mind, Fiserv said the Dovetail payments platform provides the foundation for it to offer financial institutions a broader range of solutions and services.
“In the U.S., this includes the foundation for advancing its industry-leading PEP+ ACH processing solution and a comprehensive real-time payment offering with integration into the NOW Network for payments and transfers, the Turnkey Service for Zelle and The Clearing House Real-Time Payments scheme,” Fiserv said. “The enhanced platform, and related group of integrated solutions and services, will be available on premise, and will also be deployed as a cloud-based service (SaaS) with superior customer and segment personalization.”