Fiserv, Inc. (FI) to Target Financial Institutions with StoneCastle Cash Management Acquisition

Fiserv, Inc. (NYSE:FI) is one of the best buy-the-dip stocks to buy, according to analysts. On September 29, the company entered into an agreement to acquire StoneCastle Cash Management. With the acquisition, the company strengthens its prospects as a technology-enabled source of billions of institutional deposits.

StoneCastle partners with Fiserv, leveraging a network of depository institutions that includes community banks and credit unions. It provides access to a stable, cost-efficient deposit for business and enterprise customers. The acquisition will enable Fiserv to help financial institutions optimize balance sheets. It will also allow financial institutions to retain funds associated with FIUSD stablecoin issuance.

“We believe this further sets Fiserv apart in core banking by enabling institutions to custody cash supporting FIUSD stablecoins, while unlocking new value and accelerating innovation across the financial ecosystem,” adds Takis Georgakopoulos, COO at Fiserv.

StoneCastle should allow Fiserv to accelerate its ability to innovate, expand, and reach financial institutions.

Fiserv, Inc. (NYSE:FI) provides a wide range of technology solutions and services for the financial services industry, helping financial institutions, merchants, and consumers move money and information efficiently. Their offerings include digital banking, account processing, card services, e-commerce, and payment processing, alongside products for small businesses, such as the Clover point-of-sale system.

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Disclosure: None. This article is originally published at Insider Monkey.