B2B financial marketplace Fiserv has partnered with Central Payments to offer modern issuing capabilities to fintech companies and financial institutions. Following this collaboration, Fiserv will provide its technology stack, including a real-time core, card processing, and issuance services, and integrate them with Central Payments’ Open `CP Fintech API Marketplace`.

This solution includes program management, compliance oversight, and other products that aim to enable fintech businesses and companies to design and create new services that will meet the expectations and preferences of customers and SMEs. Regarding the established card programs, the deal will give them the opportunity to access more comprehesive and regulated core banking and payment tools. The two companies focus on providing the needed offerings for businesses to connect with a sponsor bank in order to launch and manage newly created payment products.

Clients of the Fiserv financial institution that are pursuing a partnership in the fintech field also have the capability to engage with Central Payments and Fiserv to leverage their services and for using the go-to-market program management support. Furthermore, the faster the fintech offerings develop on the market, the more users and customers prefer to access their money through digital experiences outside of the traditional banking channels. One of the main ways of meeting clients’ expectations includes enabling non-chartered businesses to offer financial services.

These can include secure credit, unsecured credit, stored value cards, debit cards, credit cards, and others. Prioritising the need for companies to offer their client base an improved customer experience, Fiserv and Central Payments also provides a BaaS platform, which includes products and services, as well as the needed access to a network of sponsor banks. This aims to support a wider range of companies while focusing on compliance requirements and risk management tools as well.

Fiserv’s recent development strategy Fintech company that focuses on payments and financial technology solutions, Fiserv offers its customers multiple services and products, including areas such as large financial institutions, small businesses, large enterprises, credit unions, banks, and more. The company introduced its new fraud mitigation solution in early March of 2023, which was designed to augment omnichannel risk management for large enterprises. While being accessible through the Carat global commerce platform, the modular product equips merchants and traders with controls that can be customised based on the firms’ risk limits, along with simplified access to transaction scoring, chargeback, management, as well as other capabilities.

At the end of January 2023, Fiserv was granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS) for its local operating entity. The license was made effective on the 1st of January 2023, and it enabled the company to provide merchant acquisition solutions. This includes domestic and cross-border money transfer tools under the Payment Services Act (PS Act) 2019.

Earlier in the same month, Fiserv partnered with BNY Mellon to expand real-time FX rate quotes for payments from US financial institutions. Throughout this deal, financial institutions were able to use the Fivers Payments Exchange: Foreign Exchange Services in order to receive access to BNY’s real-time FX rate quotes in more than 120 countries. The collaboration also allowed US-based financial institutions to execute currency conversions for cross-border payments while having benefited from rate visibility upfront.

.