Fiserv launches AppMarket to accelerate Open Finance

The fintech solutions available in AppMarket will allow Fiserv financial institution clients to use Open Finance strategies to address emerging opportunities in crypto finance, gig economy banking, small and mid-size business (SMB) lending, and other priorities. AppMarket will help financial institutions of all sizes to accelerate speed to market, deliver tailored services to target markets, and appeal to younger generations.

The recent Expectations & Experiences: Fintech Adoption consumer trends survey from Fiserv found that 86% of consumers use some kind of fintech app. This trend can put financial institution revenue at risk and dilute customer relationships. By partnering with fintechs to quickly incorporate compelling new capabilities into their offerings, financial institutions can expand customer relationships while diversifying and growing revenue.

One financial institution that has embarked on a new fintech partnership with assistance from Fiserv is The Milford Bank.

Fintechs that offer their solutions in AppMarket will gain access to thousands of financial institutions that partner with Fiserv and the millions of consumers they serve. In the future, fintechs will be able to connect with sponsor banks through AppMarket and select Fiserv services to improve their digital experiences, such as ledger-as-a-service and know-your-customer (KYC) as-a-service.