BROOKFIELD, Wis.–Fiserv said it has entered into a definitive agreement to acquire Atlanta-based Online Banking Solutions, Inc. (OBS). Through this acquisition, Fiserv said it will gain additional cash management and digital business banking capabilities, which complement and enrich its existing solutions.
“Financial institutions are increasingly focused on deepening relationships with commercial customers,” said Jeffery Yabuki, president and CEO of Fiserv. “The addition of Online Banking Solutions’ technologies further enables Fiserv clients to provide greater value to their commercial customers through sophisticated cash management solutions when and where they need them.”
According to Fiserv, OBS offers a modern cash management platform with the user experience and functionality that sophisticated business users expect. Its cash management capabilities are designed for digital channels, have easy-to-use interfaces and enable notification and authentication via smartphones, tablets and wearable devices. A single platform facilitates a unified experience across multiple devices, while integrated security and analytics offer enhanced fraud prevention. In addition to cash management, OBS provides a secure browser that functions as a secure, convenient gateway to applications provided by financial institutions to their commercial customers the company said.
The transaction is subject to customary closing conditions and is expected to close before the end of 2016. Financial terms have not been disclosed.