Fiserv wins US Mutual Fund Services Award 2016
Company named best in “Outsourced Technology Infrastructure Provider” category for its unified wealth platform
BROOKFIELD, WI (October 18, 2016) — Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that it was selected as a winner in the Fund Intelligence U.S. Mutual Fund Services Awards 2016 in the category of “Best Outsourced Technology Infrastructure Provider.”
The U.S. Mutual Fund Services Awards are designed to reward a wide array of service providers – from administrators and custodians to legal specialists – who provide a vital function for the U.S. mutual fund sector. Fiserv was honored in these inaugural awards for the portfolio management, trading, accounting, performance and reporting technology on its Unified Wealth Platform supporting Mutual Fund Advisory (MFA) programs.
Meeting the technology needs of these MFA programs requires the ability to process a large number of accounts, while providing the proper administration tools and functionality. To date, the Fiserv platform supports over $1 billion in MFA assets under management, while currently serving more than 17 percent of the U.S. mutual fund market. In 2015, MFA accounts on the Fiserv platform grew more than 18 percent and assets rose by nearly 14 percent, demonstrating the technology provides the functionality and scale required to grow a firm’s MFA business.
In a recent update of Unified Wealth Platform, Fiserv transformed support of MFA programs with a new digital user experience, providing users with more efficient portfolio management and trading solutions.
“We strive to provide the best technology to help our clients reimagine the financial services experience for their customers,” said Cheryl Nash, president, Investment Services, Fiserv. “This award is a testament to the investment we make to understand and solve the challenges faced by wealth management firms and our desire to make people’s financial lives easier.”
Fiserv technology that powers MFA programs serves a vital role in the industry and supports investments in mutual funds. This is a critical consideration for the fund industry due to increased obligations for fiduciary responsibility for retirement accounts now mandated by the Department of Labor (DOL). With a new fiduciary standard, there are many challenges for wealth managers, including the ability to reliably examine fees and compensation structures on retirement accounts. Industry experts believe that managed account programs and the technology platforms that support them will emerge as a primary solution.
In a world that is moving faster than ever before, Fiserv helps clients deliver solutions that are in step with the way people live and work today – financial services at the speed of life. Learn more at TheSpeedofLife.com.
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About Fiserv
Fiserv, Inc. (NYSE: FI), a Fortune 500 company, aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and has been recognized as one of Fortune® World’s Most Admired Companies™ for 9 of the last 10 years. Visit fiserv.com and follow on social media for more information and the latest company news.
