Brookfield, Wis. based Fiserv, Inc., announced the acquisition of bank payments and liquidity management solutions provider Dovetail Group Limited, to help financial institutions meet wholesale, commercial and retail customer’s needs.

Through this acquisition, Fiserv will combine its payment capabilities with Dovetail's real-time payments platform, modular services and configurable business processing rules enabling financial institutions to unify discrete solutions into a fully integrated payments infrastructure. According to Fiserv, this enhanced platform will provide intelligent, data-driven payment processing and deliver the flexibility to integrate new capabilities and payment types at the speed of payments evolution.

"As payments transform at the speed of life, we expect to enable financial institutions to influence and direct a larger share of the payment value chain," Jeffery Yabuki, president and CEO, Fiserv, said. "Together, Dovetail's strong capabilities and our market-leading solutions create a powerful combination for Fiserv to deliver differentiated value for financial institutions and their customers."

The Dovetail payments platform provides the foundation for Fiserv to offer financial institutions a broader range of solutions and services. In the U.S., this includes advancing its PEP+ ACH processing solution and a comprehensive real-time payments offering with integration into the NOW Network for payments and transfers, the Turnkey Service for Zelle and The Clearing House Real-Time Payments scheme. In Europe, the new organization will be in a strong position to support financial institutions with legacy system replacement and the shift to real-time through, for example, SCT Inst (across all operators) and UK Faster Payments. Elsewhere globally, Fiserv can support its clients in the move to real-time, the introduction of richer payment information, and SWIFT gpi.

The enhanced platform, and related group of integrated solutions and services, will be available on premise, and deployable as a cloud-based service (SaaS) with customer and segment personalization.

Martin Coen, CEO, Dovetail, said, "Joining Fiserv should dramatically accelerate our strategy to provide broad access to our payments platform and services, and to unlock greater value for financial institutions as they seek to modernize their payments infrastructure to support a real-time, digital experience for their customers."