As a part of the agreement, Fiserv will be able to help financial institutions around the world transform their payments infrastructure to meet the needs of wholesale, commercial and retail customers.
Furthermore, the company will combine Dovetail’s real-time payments platform, modular services and configurable business processing rules with its payment capacities, enabling financial institutions to unify solutions into an integrated payments infrastructure. The platform will provide data-driven payment processing and will integrate new features and payment types, being available on premise and deployed as a cloud-based service (SaaS) with customer and segment personalization.
The payments platform provides the foundation for Fiserv to offer financial institutions a broader range of solutions and services. In the US, this includes the foundation for its PEP+ ACH processing solution and a real-time payments offering with integration into the NOW Network for payments and transfers, the Turnkey Service for Zelle and The Clearing House Real-Time Payments scheme. In Europe, it will support financial institutions with legacy system replacement and the shift to real-time through SCT Inst (across all operators) and UK Faster Payments.
Globally, the company will be able to support its clients in the move to real-time, the introduction of richer payment information, and SWIFT gpi.
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