Fiserv to incorporate real-time payments into its services with the take-over of Dovetail

21 August 2017

FiservAn American provider of financial services technology, Fiserv plans to take over Dovetail, a UK-based financial technology provider offering payment services and banking solutions created on a single architecture, to strengthen its competitive position in the market of payment services. With the purchase of the UK payment technology provider Fiserv gains access to real-time payments environment expanding its offering for financial institutions.

In the payments market of the United States Dovetail offers a direct access to the bank-supported mobile money platform Zelle and real-time payment structure of The Clearing House, and in the European market the service has a capability to seamlessly connect to SCT Inst scheme accepted across the region and EBA Clearing network. Besides, in the United Kingdom the company’s platform is compatible with Faster Payments program.

Speaking for Fiserv, Jeffery Yabuki, CEO and president, noted that the combination of functionality and capabilities offered by Dovetail with Fiserv’s solutions brings an unmatched value for financial institutions working with Fiserv and their clients. He further added that the combined platform and associated package of services will be used on premise and additionally provided as a cloud-based service (SaaS).

Terms of the transaction still remain unknown.

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