Plenty of companies claim to be leaders in the payment industry, but only a handful have the global prowess of Fiserv. Spend a few minutes with the firm’s latest annual report, and you will learn they reach almost every U.S. household and rank tops in Mobile Banking, Online Banking, Bill Pay, P2P, and Account to Account transfers.
Fiserv amped up the payments servicing game in 2019 when they acquired First Data, another historic payment firm, and the company is stable, global, and continues to be a top innovator for Financial Services. Now with a market capitalization of $70 billion, Fiserv does business in more than 100 countries.
According to a Fiserv press release on the shift to the New York Stock Exchange, Frank Bisignano, Chairman, President, and Chief Executive Officer of Fiserv, commented: “We are proud to partner with the NYSE, the world’s largest stock exchange, whose long tradition of listing industry-leading companies aligns well with our strategy to serve financial institutions and businesses of all sizes around the world. We are grateful for the partnership and support that the NASDAQ has provided us over many years with them.”
Ring the Bell, Frank
The press release states: “The Company expects to begin trading on the NYSE June 7, 2023.” The new trading symbol, “FI” streamlines the prior Nasdaq code of FISV, ensuring that the “FI” remains part of the firm’s identity. Whether that FI relates to “Financial Institutions” or “Financial Innovation” remains to be seen, but both are core to the Fiserv legacy.
And, for Mr. Bisignano, the former CEO of First Data and COO of Chase, it is truly a day to ring the opening bell on Wall Street.
Overview byBrian Riley, Director of Credit /Co-Head of Payments at Javelin Strategy & Research.
