Core provider Fiserv continues to seek innovation opportunities for its customers through acquisitions and organic investments.

“These investments and accelerated revenue growth resulted in higher capital expenditures and working capital leading to free cash flow of $658 million for the quarter and $1.3 billion year to date,” Frank Bisignano, chief executive at Fiserv, said during today’s second-quarter earnings call.

The company’s recent acquisitions include cloud banking solution Finxact in April and marketing and commerce platform BentoBox in November 2021.

Fiserv reported 12% revenue growth and exceeded its 7% to 9% guidance range for the year, Bisignano noted during the call.

The core provider closed several partnerships with banks during Q2, including $7.1 billion National Bank Holdings, $1.2 billion Martha’s Vineyard Bank and $121.4 billion Abu Dhabi Commercial Bank, which have all integrated Fiserv’s products.

The company will continue its focus on adding merchants to its small business credit card processing system Clover and omnichannel commerce platform Carat. Clover revenue was up 24% YoY and Carat revenue grew by 22% in Q2. The company did not provide revenue figures during the presentation.

“We’re transforming from selling merchants individual point solutions to offering operating systems,” Bisignano said.

Fiserv’s adjusted revenue for Q2 increased 10% YoY to $4.23 billion while financial technology revenue clocked in at $803 million, up 7% YoY. Payments and network revenue grew 8% YoY to $1.52 billion for the quarter, according to the presentation.

Also in Q2, Fiserv and the Financial Services Innovation Lab (FSIL) at the Georgia Institute of Technology joined forces to provide insights to policymakers and small businesses, according to a statement. The partnership will leverage Fiserv’s data on households to allow FSIL to construct a comprehensive picture of how economic changes and trends impact consumers and small businesses.

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