Fiserv is using AI to power its core banking platforms while developing new solutions to enhance bank operations and drive partnerships.  

The fintech continues to make strides in embedding AI into its DNA platform, which is a centralized database designed for financial institutions. AI helps streamline product upgrades and “modernize” Fiserv’s technology platforms,” Chief Executive Mike Lyons said during today’s fourth-quarter earnings call.  

Fiserv is also rolling out a new digital tool for banks that integrates its Clover merchant onboarding system into banks’ digital offerings, while introducing “AI prospecting tools to assist with the identification and conversion of high-value merchants,” Lyons said. 

The Fiserv Clover suite provides merchants with payments-processing systems, inventory management tools, customer loyalty programs and data analytics tools. Clover is becoming more ingrained in financial services, with Fiserv adding 47 banks to the referral system in Q4, the CEO said. 

“While these efforts have been narrow in scope and it’s still early, we have seen some promising results with benefits for our clients and higher revenue yield for us,” he said.  

Moreover, Fiserv is embracing agentic AI solutions, which are “fundamentally changing the payments landscape,” Lyons said. The company is working with Google, Mastercard and Visa to “bring agentic to mainstream commerce,” and it is exploring the intersection of agentic commerce and conversational AI platforms, he said.  

Attracting FIs 

Fiserv’s AI-enhanced platforms are attracting new FI partners, including: 

• Walnut Creek, Calif.-based Mechanics Bancorp selected Fiserv’s AI-driven digital banking platform, Experience Digital, following the $22 billion bank’s Sept. 2 merger with HomeStreet Bank, Lyons said; 
• Republic Bank & Trust Co. transitioned to Fiserv’s DNA platform in March, allowing the $7 billion Louisville, Ky.-based bank “to give their clients faster access to deposited funds through real-time continuous processing and enabling real-time account alerts,” he said. 
• In January, Papillion, Neb.-based Cobalt Credit Union became the first credit union on Fiserv’s DNA system to implement Eltropy’s AI voice agents.  

Meanwhile, Milwaukee-based Fiserv reported in Q4: 

• Total revenue rose 0.6% year over year to $5.3 billion; 
• Financial solutions revenue fell 1.6% YoY to $2.4 billion; and  
• Net income totaled $811 million, down 13.5% YoY. 

MARKET REACTION: Shares of Fiserv [NASDAQ: FISV] were up 4.1% from market open to $62.59 as of market close today. It has a market capitalization of $34 billion.  

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