255 Fiserv Drive, Brookfield
Industry: Financial services
Innovation: Fiserv Boardroom Series, Person-to-Person payments and improvements to online bill pay.
Brookfield-based Fiserv Inc. developed three key innovations for customers in 2009, including the Fiserv Boardroom Series, Person-to-Person payments and improvements to online bill pay.
The Person-to-Person payment enables customers to quickly and easily send or receive money person-to-person using their existing online banking relationship.
The Fiserv Boardroom Series was the biggest game-changer, allowing Fiserv to interact and engage customers through an online leadership community.
Through the Fiserv Boardroom Series, subject matter experts from Fiserv share business insights, market trends and research data providing financial institution leaders with the latest information to help them plan for their future.
“We wanted a leadership community to look for ways to manage business, especially in a different economy,” said Mark Sievewright, vice president of strategic marketing for Fiserv.
Launched last July, the system allows 24/7 access for Fiserv to communicate with their clients through video, white papers and other multimedia.
“The leverage of so many subject matter experts under one roof is latent ability,” Sievewright said.
Sievewright credits the innovation to chief executive officer Jeff Yabuki’s forward thinking. “The fundamental to innovating is a value to Jeff, and it is to ‘create with purpose,'” Sievewright said.
Fiserv has 20,000 employees and posted $4.08 billion sales for 2009.
According to Sievewright the Fiserv Boardroom Series innovation did not have a direct impact on the company’s bottom line, but was an important enhancement for its customers.
“The price side of it was never considered as it is a value added to what clients needed,” he said. “For us there was never a notion to charge for this service.”
The company plans to add a mobile device application for the Boardroom Series in the first quarter of 2011 and is exploring multi-lingual content down the road.
“We thought we would get 500 clients by the end of 2009,” Sievewright said. “We actually had 2,500 users by the end of 209 and today we have over 4,000 so we are well on our way.”