American fintech company Fiserv has entered the Jamaican market and is hoping to tap financial institutions and businesses that want to improve their core banking and card issuing capabilities as well as transform their customers’ digital banking experiences.
The US-based company which operates in more than 100 countries, sees Jamaica as a “strategic market,” Fiserv’s Business Director for Central America and the Caribbean, Jaime Tapia, told Loop News.
“We have a robust regional strategy to incorporate financial technology solutions throughout Central America and the Caribbean…The main banks in the region are wondering how to drive their digital banking and financial product issuance plans in the country and are looking for business partners to answer this question,” Tapia said.
He continued: “This is exactly where we enter with solutions such as FirstVision, DigitalAccess and Signature, a robust financial technology portfolio with which we already have a lot of experience in markets such as Mexico, Colombia, Guatemala, Costa Rica and the Dominican Republic,” he said.
With several other fintech companies operating in Jamaica, Tapia said the company’s differentiation is based on the fact that Fiserv has one of the broadest portfolios of financial technology solutions and “supports thousands of financial institutions and millions of merchants of different types of businesses through solutions that address payment processing, mobile banking, bank fraud mitigation, as well as automation of financial accounting and operational reconciliations.”
“I am sure that no [other] or very few companies in the industry could claim this,” he said.
The NASDAQ-listed company plans to push its core banking cloud technology platform, a suite of digital omnichannel access solutions that helps banks, credit unions and retailers to deliver digital banking and mobile payment services to their customers as well as technology and security solutions for bank cards (physical and digital), among others.