Fiserv has acquired mobile banking and payments firm M-Com for an undisclosed sum.
M-Com, founded in 2000, is based in Atlanta, with an office in New Zealand. The privately-held concern claims more than 200 financial institution clients worldwide. M-Com CEO Adam Clark and all employees will join Fiserv as part of the transaction.
Fiserv first partnered M-Com in 2008 to develop a mobile banking application, and the two companies now claim 'hundreds' of mutual customers in the US and several in international markets.
Steve Olsen, group president, Digital Payments, Fiserv says the acquisition of M-Com will enable the firm to offer mobile banking capabilities as a deeply integrated part of its core banking suite.
"Technology advancements and consumer usage patterns are converging across online and mobile channels," he says. ""Offering robust services through the mobile channel is now critical for financial institutions. The acquisition of M-Com will enhance our ability to provide anywhere, anytime access to consumers who want their finances at their fingertips."