Fiserv acquires cash management software vendor Online Banking Solutions
Fiserv acquires Online Banking Solutions
Online Banking Solutions (OBS), an Atlanta-based provider of cash management software, is being taken over by banking tech giant Fiserv.
Fiserv says the acquisition will fit well into its broad portfolio of commercial banking solutions, as OBS offers “complementary” products.
Fiserv says OBS’s e-business banking capabilities “are designed for digital channels, have easy-to-use interfaces and enable notification and authentication via smartphones, tablets and wearable devices. A single platform facilitates a unified experience across multiple devices.”
OBS products – currently branded as “Messenger” – are integrated with a number of Fiserv’s core processing solutions, namely Signature, Premier and Cleartouch. The DNA core system will be added to the list once the acquisition is closed (which is expected to happen before the end of 2016), the vendor says.
“Our relationship with Fiserv is already established through our activities with several mutual clients,” explains Dan Myers, CEO of OBS. For instance, BankUnited uses OBS’s digital software and Fiserv’s Signature core system.
OBS also has integration experience with other banking software vendors in the US, including Fiserv’s competitors like Jack Henry & Associates and its ProfitStars division and FIS (FIS’s BancLine core system and OBS both run at Woodforest National Bank).
OBS also works with Wescom Resources Group, a credit union service organisation (CUSO) owned by Wescom Credit Union.
