Fiserv, a global provider of payments and financial services technology, has acquired developer, Finxact.

Finxact’s cloud-native banking services have powered digital transformation throughout the financial services sector. It provides clients with a real-time and extensible banking service and empowers financial institutions with greater access to their data, which will now be accessible to Fiserv. Fiserv was an early investor in Finxact and will acquire the remaining ownership interest, accelerating its digital banking transformation with Finxact’s digital banking technology.

“We’re accelerating the delivery of innovative digital banking experiences for our clients and elevating their ability to compete in a rapidly changing market,” said Frank Bisignano, president and CEO of Fiserv. “This transaction complements our Fiserv account processing solutions and expands our opportunities to serve clients by bringing together Finxact’s highly flexible and scalable API-first capabilities with the comprehensive digital financial solutions portfolio and expertise of Fiserv. Through this combination, Fiserv will create a streamlined path for clients to offer digital solutions to their customers. Finxact also enhances our ability to support a growing number of financial institutions and business clients. We look forward to welcoming Frank Sanchez and the talented Finxact team to Fiserv as we continue to grow our client banking portfolio.”