Fiserv, Inc. (FISV - Free Report) collaborates with DadeSystems — a payment solutions provider — to offer the latter’s DadePay AR Automation to financial institutions.
DadePay AR Automation is a processing solution that automates the invoice-to-cash application process. Its artificial intelligence (AI) algorithms work with optical character recognition technology, machine learning, and automated processes to speed up payment processing, increase operational efficiency, reduce cost and enhance cash collection.
Under the partnership, Fiserv will act as a connection point through which DadePay AR Automation can be accessed as a software-as-a-service (SaaS) solution. Banks will be able to offer improved services to business clients with automated accounts receivables by using this solution. It can also be offered as an individual service as well as a complement to the Fiserv’s commercial banking suite.
In a year’s time, shares of Fiserv have gained 27.3%, significantly outperforming the Zacks S&P 500 Composite’s 15.9% rally.
Fiserv, Inc. Price
Fiserv to Strengthen the Financial Segment
We believe that this collaboration will benefit Fiserv’s Financial segment. This division offers account processing services, cash management and consulting services, item processing and source capture services, loan origination and servicing products to banks, credit unions, and leasing and finance companies.
In the last reported quarter, revenues at this segment declined 5.3% on year-over-year basis.
Zacks Rank & Stocks to Consider
Currently, Fiserv carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Business Services sector include Broadridge Financial Solutions (BR - Free Report) , Paychex (PAYX - Free Report) and Convergys , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The long-term expected earnings per share growth rate for Broadridge Financial Solutions, Paychex and Convergys is 10%, 8.2% and 7.5%, respectively.
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