BROOKFIELD, Wis. - (07/26/06) -- Fiserv Inc. reported Tuesday thatsecond quarter earnings rose 3% to $117.7 million, or 66 cents ashare. The nation's largest outsourcer of credit union servicesreported that revenues rose 10% to $1.1 billion in the three-monthperiod, fueled by the addition of 111 new clients to the company'selectronic funds transfer network and the addition of several majorclients to its BillMatrix group. The second quarter also includedthe completion of one acquisition, of Insurance Wholesalers, and anagreement to acquire The Jerome Group, a full-service directmarketing firm and digital printer provider. For the first sixmonths of the year, Fiserv reported an 11% increase in revenues to$2.2 billion, but an 8% decline in net income to $233.9 million, or$1.30 a share, due to an 8% decline in first quarterearnings.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
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Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
July 3