Fiserv introduced new offerings in 2022, including access to data through its Open Data solution, expanded capabilities through enterprise omnichannel solution Carat and a cloud-native banking solution through its acquisition of Finxact.

WHY IT MATTERS: Fiserv’s new product offerings, acquisitions and Q4 wins allowed the company to weather uncertain economic conditions in the U.S., Frank Bisignano, president and chief executive, said today during Fiserv’s Q4 earnings call.

BY THE NUMBERS: Fiserv posted in Q4:

• Adjusted revenue grew 8% year over year to $4.4 billion; and
• Fintech-related revenue increased 7% YoY to $823 million.

STATE OF PLAY: Fiserv’s stock was up 6.11% to $112.90 as of 1:51 p.m. ET this afternoon.

During Q4, British Columbia-based, $16.9 billion First West Credit Union added Fiserv’s Clover point-of-sale product to its platform, according to Fiserv.

Last year, Fiserv also announced the following transactions:

• Deutsche Bank and Fiserv teamed up on payments company Vert in October;
• $352 million Farmers & Merchants Bank of Colby selected Fiserv’s Mobiliti in August; and
• $5.7 billion Great Southern Bank selected Fiserv as its digital banking provider in August.

NOTEWORTHY: Frank Bisignano’s contract was extended through December 2027, according to a Fiserv release. He joined Fiserv in 2019 through the acquisition of First Data – which was fully integrated with Fiserv in the first half of 2022.

FLASHBACK: In May, the tech provider integrated buy-now-pay-later provider Affirm to its merchant platform Carat.

Fiserv’s acquisition mentality continued into Q4 with the acquisition of sales organization Merchant One, which adds retail and restaurant merchants to the platform, in December.

FUTURE LOOK: In the quarter, Fiserv signed two credit partners: Target RedCard and Canada’s Desjardins Group, according to the earnings presentation. The two partners are expected to start producing revenue in 2024.

“These are long-term big decisions for these issuers,” Bisignano said. “The fruits of this labor continue to come through.”

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