Following the completion of this transaction, we are confident that Monitise clients will be served well by Fiserv and its longstanding commitment to creating value for its clients. “Fiserv is well-positioned to carry this business forward given its strength in digital banking and extensive client network. ”We are proud of the talented people and innovative technology solutions across the Monitise businesses,” said Lee Cameron, chief executive officer of Monitise. As of September 1, 2017, Monitise plc operates as a subsidiary of Fiserv (Europe). (NASDAQ: FISV), a leading global provider of financial services technology, has launched FinKit for Open Banking to help financial institutions meet and keep pace with rapidly unfolding regulations.
Whether it is augmenting legacy systems, a greenfield project, or strategic digital transformation, FINkit delivers innovation at speed, safely and securely, with minimal impact on legacy systems. It operates FINKit, a platform and toolkit that provides application. Reportedly, Fiserv Inc 's FISV plan to acquire Monitise has suffered a setback after a top shareholder of the British financial services technology. “Combining its talented associates and advanced technologies with leading digital solutions from Fiserv will expand our clients’ ability to provide differentiated experiences to their customers.” FINkit builds upon over a decade of experience Monitise has of delivering digital services to banks and financial services partners. “Monitise has been a global pioneer and innovator in digital banking for more than a decade,” said Jeffery Yabuki, president and chief executive officer of Fiserv.
Among the added solutions would be Monitise’s FINkit, a cloud native tool financial institutions can use to maximize innovation and speed-to-market. By acquiring Monitise, Fiserv expects to broaden its technology offerings for financial institutions working to stay ahead of consumer expectations. Fiserv expects to achieve annualized revenue synergies in connection with the acquisition of at least 75 million, and annualized cost synergies in excess of 50 million, over the next several years.
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