Fiserv joins the Swift Partner Programme

As part of the Swift Partner Programme, Fiserv will reportedly facilitate the connectivity to Swift APIs and enhance support for Swift GPI (Global Payments Initiative) for Fiserv client financial institutions.

As outlined in the official press release, the Swift API connectivity boosts the end-to-end transparency for cross-border payments in real time and facilitates the process of checking payment statuses for Fiserv client banks. 

By leveraging the reach of the Swift system and Fiserv’s footprint, this collaboration is anticipated to enable more financial institutions to access cross-border payments capabilities.

Fiserv is not the sole payments provider that joined the Swift Partner Programme in 2023, as earlier this year, the IBM Payments Centre announced a similar decision  – in a bid to collaborate with Swift members.

Fiserv’s strategy and past developments

Fiserv is a payments and financial technology provider that extends services including account processing and digital banking solutions, card issuer processing and network services, payments, ecommerce, and merchant acquiring and processing. The fintech also provides a cloud-based point-of-sale and business management platform, Clover.

At the moment, the company reportedly offers its services to nearly 6 million merchant locations globally, has approximately 10,000 financial institution clients, and handles more than 12,000 financial transactions per second. 

Earlier in 2023, Fiserv was granted a licence  by the Monetary Authority of Singapore (MAS) and can now operate as a Major Payment Institution (MPI). The payments and financial technology provider also disclosed that it completed its listing transfer to the New York Stock Exchange.

Moreover, when it comes to its recent developments, the company secured a series of partnerships with Central Payments, JCB International, and Lloyds Bank, among others.

Apart from these joint ventures and the licence that it obtained, Fiserv also announced a data sharing agreement with US-based network Akoya, in an effort to facilitate secure data sharing between financial institutions, their customers, and the third parties that they do business with.