Fiserv‘s acquisition of First Data points to the power of fintech and the threat it poses to more traditional payments and banking technology providers; fintech firms like Stripe and Square have put immense pressure on merchant processors like First Data to become more technology focused; Fiserv knows by acquiring First Data they can build a powerful competitor and the companies announced they will invest $500mn in development over the next five years; the move will allow Fiserv to offer a full suite of merchant products to their long list of banking clients and better position the company against competing, more nimble fintechs. Source.
Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.