Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Fiserv, Inc.    FISV

FISERV, INC.

(FISV)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

Fiserv : Financial Institutions Can Manage Forgiveness of Paycheck Protection Program Loans with Fiserv and its Clients

share with twitter share with LinkedIn share with facebook
05/13/2020 | 08:32am EDT

Small businesses that have obtained a PPP loan can realize full impact of the program by applying for forgiveness via their financial institution and Fiserv

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, is ready to help banks and credit unions facilitate loan forgiveness applications and service loans made through the U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP). Financial institutions will be able to utilize the SBA PPP lending solution from Fiserv to accept loan forgiveness applications, even if they originated PPP loans in another way.

Fiserv has worked with hundreds of financial institutions across the United States to help facilitate more than 100,000 loans to small businesses.

“We turned to Fiserv for SBA PPP support to secure desperately needed funding for main street businesses. We secured nearly $38 million for more than 400 local small businesses,” said Matt Speare, CIO at Martinsville, Virginia-based Carter Bank & Trust. “Averaging $88,000, these were truly main street loans. The response from our community has been overwhelming – and we’re looking forward to continuing our work with Fiserv as these businesses seek loan forgiveness and additional servicing.”

The end-to-end SBA PPP lending solution includes a digital portal that can be accessed by businesses to apply for loan forgiveness, allowing them to maximize the impact of their loan. The SBA has indicated that PPP loans can be fully forgiven if the funds are used primarily for payroll costs, interest on mortgages, rent and utilities.

The Fiserv solution also includes a financial institution portal that enables institutions to perform the review and verification processes they deem necessary, and provides connectivity to the SBA for easier, more efficient completion of the forgiveness process.

“This is a critical time for our community, our members and the small businesses that they run and depend upon daily,” said Brenda Hooker, CEO at Huntsville, Texas-based Community Service Credit Union. “We have been able to secure more than $800,000 of SBA PPP lending for our community. The solution Fiserv has created is simpler, more efficient and more reliable than submitting via E-Tran directly, and we will definitely be working with Fiserv for the PPP loan forgiveness process.”

In addition to enabling forgiveness applications, core account processing clients of Fiserv will be able to service PPP loans on their platform – allowing financial institutions to efficiently perform back-office accounting and reporting functions associated with PPP loans while facilitating adherence to regulatory requirements and a clear understanding of the impact of PPP loans on their business.

“It has been rewarding for the entire Fiserv team to help support these financial institutions as they make a real difference for businesses, and the households they support, through this program,” said Todd Horvath, group president of Account Processing at Fiserv. “Our team will continue to work tirelessly to see these loans through to the next stages of the PPP process, and any additional recovery programs that may follow.”

In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.

Additional Resources:

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) 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 solution. Fiserv is a member of the S&P 500® Index and the FORTUNE® 500, and is among the FORTUNE World’s Most Admired Companies®. Visit fiserv.com and follow on social media for more information and the latest company news.

FISV-G


© Business Wire 2020
share with twitter share with LinkedIn share with facebook
Latest news on FISERV, INC.
07/03FISERV : ALDI Nord Moves In-Store Acquiring in Germany to Fiserv
BU
06/22ABA-FALSE DICHOTOMY : Fraud Detection and Cardholder Relationships
AQ
06/19FISERV INC : Temporary Suspension of Trading Under Registrant's Employee Benefit..
AQ
06/09Coronavirus Obliterated Best African-American Job Market on Record
DJ
06/08FISERV : Financial Institution Cardholders Can Access Available Credit Through T..
AQ
06/04FISERV : Financial Institution Cardholders Can Access Available Credit Through T..
BU
06/01FISERV : Financial Institutions Can Connect with Consumers via Conversational Ba..
BU
05/29FISERV : to Present at Baird's 2020 Global Consumer, Technology & Services Virtu..
BU
05/27FISERV : True Sky Credit Union Moves to Fiserv for Full Set of Financial Tech
BU
05/21FISERV : Financial Institutions Ease Cardholder Frustration by Addressing Transa..
BU
More news
Financials (USD)
Sales 2020 14 846 M - -
Net income 2020 1 292 M - -
Net Debt 2020 19 450 M - -
P/E ratio 2020 53,9x
Yield 2020 -
Capitalization 64 813 M 64 813 M -
EV / Sales 2019
EV / Sales 2020 5,68x
Nbr of Employees 44 000
Free-Float 70,6%
Chart FISERV, INC.
Duration : Period :
Fiserv, Inc. Technical Analysis Chart | FISV | US3377381088 | MarketScreener
Technical analysis trends FISERV, INC.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 33
Average target price 120,39 $
Last Close Price 96,81 $
Spread / Highest target 42,5%
Spread / Average Target 24,4%
Spread / Lowest Target -8,07%
EPS Revisions
Managers
NameTitle
Frank J. Bisignano President, CEO, COO & Director
Jeffery W. Yabuki Executive Chairman
Robert W. Hau Chief Financial Officer & Treasurer
Marc West Chief Information Officer & Executive VP
Denis J. O'Leary Lead Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
FISERV, INC.-16.28%65 683
GLOBAL PAYMENTS INC.-8.22%51 168
FLEETCOR TECHNOLOGIES, INC.-12.15%21 469
AFTERPAY LIMITED132.24%12 720
PAGSEGURO DIGITAL LTD.13.55%12 420
WESTERN UNION COMPANY-21.62%8 884