IBS Intelligence reports that the transaction is subject to customary approvals and closing conditions, and it is expected to close in Q1 of 2021. Financial terms of the transaction were not disclosed. The goal of this acquisition is for Fiserv to expand its digital capabilities, bolstering its suite of integrated solutions in order to enable clients of all sizes to deliver seamless, digital-first, and personalised experiences to their consumers.
By integrating Ondot, Fiserv aims to help its clients accelerate digital customer acquisition, increase card activation and usage, reduce service costs, drive digital commerce, and engage contextually in moments that matter, all via ready-made solutions for clients. Ondot’ data enrichment identifies transaction and merchant data, and allows customers to recognise their purchases and understand their spending patterns.
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