Global FinTech Fiserv has announced it will purchase core banking business Finxact.
In Brief:
Finxact has a cloud-based SaaS platform.
Fiserv was an early investor in the business.
It's now decided to acquire Finxact for approximately $650mn.
What does this mean?
Fiserv says that Finxact will boost its digital strategy and help with processing and payments.
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