The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Fiserv’ Financial Institution Services Business Experiences 3.3% Revenue Decrease in First Quarter

Following on from the disappointing last quarter of 2009 for its Financial Institution Services business, Fiserv has yet again experienced a revenue decline for the division in the first quarter of this year. The business experienced a decline in revenue of 3.3% or US$16 million from US$488 million in the first quarter of 2009 to US$472 million in the same quarter this year.

These results do not bode well for the long term outlook of the vendor’s Financial Institution Services division, which includes corporate actions solution eVent. Especially taking into account the results from the last quarter and last year (fourth quarter 2009), when the division experienced 0% revenue growth for the quarter and a decline in revenue of 4% for 2009 overall. The division has also lost a number of key staff members and has not announced a public win for eVent in over 12 months.

The vendor announced in September last year that it had invested in its eVent corporate actions automation solution and released a new upgrade, aimed at improving the flexibility of election and instruction processing and the notifications process with more customisable options. However, this investment does not appear to have resulted in an uptick in eVent’s fortunes.

Given that other corporate actions solution providers seem to be faring rather better despite the climate, this silence is unusual. Perhaps the vendor is revising its strategy and is set to exit the market and instead focus on areas that it feels are more promising in terms of profitability such as payments and risk management?

According to Jeffery Yabuki, president and CEO of the vendor, it is funding new product investments in “several strategic areas” this year. Odds on one of these isn’t corporate actions.

Related content

WEBINAR

Recorded Webinar: Brexit: Reviewing the regulatory landscape and the data management response

With Brexit behind us and the UK establishing its own regulatory regime having failed to reach equivalence with the EU, financial firms face challenges of double reporting, uncertainty about UK regulation, and a potential exodus of top talent. The data management response is not easy and could stretch some firms to the limit as they...

BLOG

NeoXam Partners Market Data Consultancy MDP to Extend Reach of DataHub

Paris-based data management platform provider NeoXam has forged an alliance with market data consultancy MDP to extend the reach of its DataHub platform in the DACH region comprising Germany, Austria and Switzerland. The initiative will focus on helping clients deal with market and reference data challenges such as costs, multi-vendor strategies, reconciling data sources and...

EVENT

Data Management Summit Virtual

The Data Management Summit Virtual brings together the global data management community to share lessons learned, best practice guidance and latest innovations to emerge from the recent crisis. Hear from leading data practitioners and innovators from the UK, US and Europe who will share insights into how they are pushing the boundaries with data to deliver value with flexible but resilient data driven strategies.

GUIDE

Risk & Compliance

The current financial climate has meant that risk management and compliance requirements are never far from the minds of the boards of financial institutions. In order to meet the slew of regulations on the horizon, firms are being compelled to invest in their systems in order to cope with the new requirements. Data management is...