Who doesn’t love doves? Turns out financial technology solutions provider Fiserv sure does, and has acquired UK- and NJ-based Dovetail Systems. The Dovetail website proclaims” Dovetail Joins Fiserv – Together we can reinvent the payments infrastructure”. Sounds like a worthy, if not lofty goal. Their site details that they offer payment solutions, “smart” middle office solutions, “smart” gateway solutions (there’s that word again), and liquidity management solutions. Apparently though, Fiserv had initially sought to buy UK-based Monetise earlier this year. Sometimes being the second in line can work out just fine for a dove.
“Global financial services provider Fiserv has acquired bank payments provider Dovetail Group Limited in order to bring payments further into the modern world — that is, realtime.
Dovetail’s realtime payment platform will be used to integrate other products and services into Fiserv’s existing payments business, the companies announced today.
The products that will be powered by this platform include Fiserv’s TurnKey Service for Zelle and The Clearing House Real-Time Payments scheme in the U.S., while within markets such as the U.K., it will be used to help Fiserv clients leverage services like U.K. Faster Payments.
The move to acquire Dovetail was made after Fiserv had previously considered acquiring other payments companies (such as the U.K.-based Monetise in June 2017). Terms of the Dovetail acquisition were not disclosed.
Dovetail, which was founded in 2000, created one of the world’s first “payment hubs” just three years later. The company is based in London, but like Fiserv, has global reach, with offices in the United States, Italy, and Singapore…”
Full Story at BankInnovations