Brookfield-based Fiserv Inc. plans to acquire Jacksonville-based Finxact in a deal aimed advancing the company’s digital banking efforts.
Fiserv was an early investor in Finxact, which has developed a cloud-native banking system that allows banks to quickly offer new products and services. The company will now pay around $650 million to acquire the remaining ownership interest.
“We’re accelerating the delivery of innovative digital banking experiences for our clients and elevating their ability to compete in a rapidly changing market. This transaction complements our Fiserv account processing solutions and expands our opportunities to serve clients by bringing together Finxact’s highly flexible and scalable API-first capabilities with the comprehensive digital financial solutions portfolio and expertise of Fiserv,” said Frank Bisignano, president and chief executive officer of Fiserv.
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