Fiserv, Inc. (NYSE: FI), a global provider of payments and financial services technology, announced it has acquired Smith Consulting Group (SCG), an operational consulting service utilized by community banks and credit unions across the US.
SCG provides deep subject matter expertise and in-market support to Fiserv clients seeking consultative engagement to “enhance their strategic investments in core and surround solutions.”
Financial terms of the transaction “were not disclosed.”
The addition of SCG reinforces Fiserv’s position as a “provider of core banking and advisory services, enhancing the firm’s ability to deliver end-to-end transformation for community banks and credit unions.”
SCG consulting services will “span DNA, Signature, Bank Intelligence and other Fiserv banking platforms.”
Andrew Gelb, Head of Financial Solutions, Fiserv, said,
“This acquisition enhances our ability to deliver strategic value to our customers by embedding deeper expertise directly into our service model. By bringing more expertise in-house, we’re expanding our ability to advise earlier and deliver smarter solutions. Today’s announcement is a clear step forward in our commitment to helping financial institutions achieve growth with speed, clarity, and confidence.”
Fiserv and SCG have been long-standing partners ”supporting community banks and credit unions over the last decade.”
Built around a team of industry professionals with ‘experience in bank and credit union operations, SCG supports “banking software system conversions and implementations, as well as consulting services focused on core, teller, customer service and call center platforms, online and mobile banking, and various other interfaces.”
As a global enabler of payments and financial technology, Fiserv helps clients achieve “results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and Clover, the world’s smartest point-of-sale system and business management platform.”
As mentioned in the announcement, Smith Consulting Group is a team of banking and credit union professionals that have experience “dealing with all aspects of bank and credit union operations.”
In addition to work with banking software system conversions and implementations, Smith Consulting Group also reportedly has “a range of experience working with the various systems required in your bank’s operations including Core, Teller, Customer Service and Call Center Platforms, ECM Systems, Document Development and Delivery Systems, Online and Mobile Banking, and various other interfaces.”
