Fiserv reported first quarter 2014 results, which we characterize as modestly better than expectations. Adjusted internal revenue grew 5.6% year-over-year, compared with our estimate of 3.8% growth. The payments segment grew 8.5%, while the financial segment grew 2.7%, with both coming in above estimates. The adjusted operating margin was 29.6%, an improvement of 120 basis…
Regulatory Update; Terrorism Bill Moves in Much More Favorable Direction
The Financial Markets Committee within the Duma approved a toned-down draft of amendments to Russian Federation Law No. 161-FZ. Of course, this does not remove geopolitical risk, which is quite difficult to call. Obviously, escalation of the Ukraine crisis would be troublesome for Qiwi shares and a de-escalation would be very good news for the…
Bottomline Technologies, Inc. Andera Acquisition Positive Addition to Commercial Banking Solutions
Yesterday, Bottomline Technologies announced that it agreed to purchase Andera, a provider of customer acquisition solutions for banks and credit unions. The company has over 500 customers and has helped process more than 4.5 million new account applications. More specifically this offering will pair with the recent Intuit acquisition and will focus on providing commercial…