Mobile computing has topped Fiserv’s agenda and in 2012 will impact its offerings while cloud computing and data aggregation are on the horizon for the vendor, says Cheryl Nash, president of the Fiserv Investment Services division.
In fact, mobile technologies are a high priority for customers, Nash says. To meet that demand, Fiserv acquired Mobile Commerce Ltd. as part of its “go-forward” mobile solutions strategy, which includes a separate business unit for mobile services. Fiserv has also been readying offerings for Microsoft’s Slate tablet device.
“We’re putting our financial planning tools onto Microsoft Slate,” she says. “We’re also looking at our complete mobile strategy and phasing out how we’re going to deliver more mobility to our clients. That’s a big need for our clients.”
Some industry analysts have said that while mobile tablets and apps are a natural fit for reaching out to clients there is a role for mobile to play internally for securities firms. Some pundits foresee a convergence of mobile, web and middle and back office technologies that will enable remote access to internal systems.
“We’ve got some customers that have mobile applications and it’s something we’re seeing more of from them,” Nash says. “I think that the convergence is coming but firms won’t be able to launch that [in 2012].”
Initially, Fiserv will be focused on marrying mobile support to front-office capabilities such as financial planning tools and its retirement management offerings.
“As the younger generation moves into a more investment type profile, when you think about the technology solutions we provide, we have to keep up with that because our clients are going after different demographics and different generations of people to sell their investments to. So, there is a big push for mobile,” Nash says.
Clouds are also on the horizon for Fiserv, which is just starting to get its “feet wet with cloud computing,” says Nash, who adds that there is a lot of work being done behind the scenes to provide the security that a move to the clouds will require. “We’ve got an innovation team, driven by our CIO, and on that team is someone dedicated to cloud computing.”
On another front, financial advisors will be need retirement income solutions that compare and contrast retirement and education goals, Nash says.
Financial advisors will need retirement income solutions that compare and contrast retirement and education goals. These are applications that have goals attached to “real wallet share” and these goals can access multiple accounts at multiple firms. “Data aggregation is a key component in bringing that all together. That is something our clients see as the Holy Grail,” Nash says.
Fiserv, based in Brookfield, Wisconsin, develops technology solutions for payments, transaction processing, risk and compliance, customer and channel management, business optimization and business intelligence.
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