Fiserv & Central Payments team to help FinTechs launch financial products

By Gloria Methri

Fiserv, the global provider of payments and financial services technology solutions, has joined forces with BaaS provider Central Payments L.L.C. to enable FinTechs, enterprise businesses, and payment facilitators to bring financial products and services to the market with greater speed and growth potential.

The combination of the Fiserv technology stack, including a real-time core, card processing, and issuance, with Central Payments’ Open*CP Fintech API Marketplace, will empower FinTechs and other businesses to create valuable products and services that more holistically meet the expectations of consumers. For those with established card programs, this provides access to more comprehensive and regulated core banking and payment services.

Fiserv and Central Payments bring together a BaaS platform, products and services, and access to a network of sponsor banks to support a wide spectrum of innovative use cases.

Sunil Sachdev, head of Fintech and Growth at Fiserv said, “As FinTechs and financial institutions work together to create compelling financial offerings, speed to market, a robust and flexible tech stack and streamlined operations are essential. Together, Fiserv and Central Payments can deliver these requirements without compromising compliance and risk controls needed to safeguard all parties.”

Fiserv and Central Payments provide everything needed for a FinTech to connect with a sponsor bank, and launch, and manage unique payment products and services. Fiserv financial institution clients pursuing a FinTech partnership can also engage for go-to-market program management support.

“This combination of technology, services, program management, and bank partners will help any business become a FinTech without the need to add the staff or expertise to manage the program in-house,” said Eric Cotton, Executive Vice President, and General Manager at Central Payments. “Those that may want to manage their program in-house eventually can also use our services as a lower-risk model to get to market quickly with a proof-of-concept.”