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A promising future with Blockchain in electronic payment gateways

Jeffery W. Yabuki, President and CEO

Jeffery W. Yabuki, President and CEO

The management of company resources has undergone many transformations as innovative technologies are facilitating the smarter use of resources. From a recent survey, the EAM market is expected to reach $ 5.35 billion from $ 3 billion by 2021. This shows the current economy that is becoming increasingly complex and dynamic. Fiserv launched CardValet, a mobile card management application that allows finance companies to provide cardholders with control over their card when they are used. The company has been named one of the best American employers from Forbes. Over the years, Fiserv has evolved into financial services technology, addressing a global clientele that includes banks, investment advisors, securities brokers, finance companies and retailers. Fiserv recently announced the results of a survey on the implementation of open banking initiatives by banks in the United Kingdom, Poland, France and Australia. Up to now, banks have focused on compliance with 42% of respondents affirming their claim to open banking. Fiserv's footsteps have reached unprecedented horizons in the global market and are set to remain at the forefront of innovation in the financial sector. However, some banks are taking advantage of open banking to improve customer service.

Fiserv emerged from the merger of First Data Processing and Sunshine State Systems. Subsequently, it was transformed into a public company where FISV was listed on the NASDAQ stock market, an institutional wealth management company that gained global recognition in the financial control landscape. Seeing the strength of mobile technology, Fiserv launched the first mobile banking solution to offer unique and secure banking access via triple reading via text messaging, mobile browser or an app. Fiserv has more than 12,000 customers and 24,000 associates, while the company continues to engage and help its customers achieve the best results in the category, driving quality and innovation in payments and processing services.

Blockchain technology tends to dominate e-market as digital retailers use technology to improve efficiency in collecting online payments and processing payments online. This technology improves revenue by expanding operations and entering transactions with users across borders. Blockchain facilitates secure and transparent online transactions without the interference of third parties through the encrypted distributed ledger that provides a reliable verification of transactions in real time. According to IBM statistics, 65% of banks rely on the blockchain for online payments and investments by 2020. Fiserv intends to continue to exploit these advanced technologies and provide solutions relevant to trends to keep up with the competition.

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