This Fintech Just Solved a Big Problem. Is It a Buy?
The payments and financial technology company Fiserv (NASDAQ: FISV) recently announced that it intends to acquire Finxact, a maker of cloud-native core processors for banks, for $650 million. The deal pales in comparison to Fiserv's last acquisition, First Data, for $22 billion. But don't let the smaller number fool you: The acquisition could be a bigger deal than some think, and it could solve a key issue Fiserv has been dealing with for several years. Here's why.
Fiserv is a company that provides banks, credit unions, and other financial-oriented companies with the technology needed to carry out many of their daily functions. It has three main divisions:
Image source: Getty Images.
Source Fool.com
