Fiserv, Inc. (FISV - Analyst Report) recently announced that its digital payment platform, Acumen has been selected by TruStone Financial Federal Credit Union for upgrading its banking solution portals. Minnesota based TruStone Financial with $739 million in assets has adopted Fiserv’s account processing solution given its advanced technology with flexible, scalable and customized systems.
This integrated user-friendly solution by Fiserv would make account balance checking, money transfer, bill payment services easier, secured and more convenient for TruStone Financial. In addition, the technologically advanced banking solution will also seamlessly escalate TruStone Financial’s operational efficiencies and optimize its entire customer service experience substantially.
Fiserv’s Acumen platform has been designed for companies who would use it to ameliorate service standards and cater to growth potentials in the market. Naseer Nasim, Senior Vice President, Credit Union Solutions for Fiserv, expressed his ebullience on the association by stating that the company’s latest banking service portal will not only cater to TruStone Financial’s requirements but also put another feather in the cap for Fiserv.
The company appears quite proactive in winning contracts of late. On July 2, 2012, the company’s complete outsourced banking solution services and Premier bank platform have been adopted by Capital Bank. This was done with the clear intent of ameliorating the account process management system of the bank and augmenting its client base geographically. We can be confident of such contract wins as these may prove to be major growth drivers for Fiserv’s upcoming second quarter results of 2012.
However, it is always wise for Fiserv to be extra cautious of competitive strides in the industry. Formidable players to take note of in this regard include Vantiv, Inc. (VNTV - Snapshot Report), Fidelity National Information Services, Inc. (FIS - Analyst Report) and Total System Services, Inc. (TSS - Analyst Report).
The current Zacks Consensus Estimates for Fiserv, Inc. are $1.26 and $5.17 for the second quarter of 2012 and for 2012, respectively. The estimates represent year-over-year growth of 11.41% for the second quarter and 12.98% for 2012. We currently have a long-term recommendation of ‘Neutral’ for Fiserv. The stock also bears a Zacks #2 Rank, which translates into a short-term rating of ‘Buy.