Fiserv Continues Notification Push with OBS Buy
Financial services technology provider Fiserv Inc. has reached a definitive agreement to acquire Online Banking Solutions Inc. (OBS), in a deal Fiserv said will bolster its cash management and digital business banking capabilities—and continues the firm’s recent focus on driving customer engagement via notifications. Atlanta-based OBS offers a cash management platform for digital channels, with features including notification and authentication via smartphones, tablets and wearable devices. Along with cash management, OBS provides a secure browser for banks to use in the applications they provide to their commercial customers. Fiserv already integrates OBS products across a number of its account processing platforms. The deal is expected to close before the end of 2016, subject to customary closing conditions. Financial terms were not disclosed.
Brookfield, Wis.-headquartered Fiserv recently has promoted the ability of alerts and push notifications, which the company said can help financial institutions to strengthen relationships with customers and increase revenue. The company’s recent research found that consumers are interested in receiving alerts, especially those regarding account security issues, and some might even be willing to pay for certain “high value” alerts for events that could result in fees, such as overdraft.