Fiserv Acquires GMT CashMaster Cash Management Business Unit
GMT and Fiserv, the industry leader in cash and logistics applications and services, have entered into a definitive agreement by which Fiserv has acquired GMT‘s cash management software, GMT CashMaster. With this transaction, Fiserv will acquire the GMT CashMaster software and all the associated client relationships. GMT and Fiserv have also entered into ancillary agreements where GMT will continue to provide product support services to Fiserv as well as provide referrals to Fiserv for prospective cash management clients.
As a leading provider of technology processing solutions for the broad financial services industry, Fiserv offers a variety of leading solutions in critical areas such as core processing, Internet banking, electronic bill payment and presentment, debit and EFT processing, item processing, risk management, and many others. Fiserv has relationships with all of the top 100 U.S. banking institutions (53 have more than five relationships with Fiserv) including over 6,000 core processing relationships with U.S. banks, credit unions and thrifts and was ranked the largest provider of information technology services to the financial services industry worldwide in the 2004, 2005 and 2006 FinTech 100 surveys.
Fiserv provides Core account processing and online banking for banks, thrifts and credit unions, offered via service bureaus or in-house licensed software systems. The Cash and Logistics product suite was designed with the same delivery goals in mind and can be easily implemented within the client’s internal IT environment or implemented in a hosted ASP environment based on their preference.
“As the leader in the cash and logistics market, Fiserv was the logical choice to acquire GMT CashMaster,” said Roger Avats, co-founder and chairman of GMT. “Fiserv has deep resources to ensure that CashMaster clients will benefit from a rich product roadmap that enhances their cash management and forecasting capabilities, and extends their enterprise reach to address other points in the cash supply chain.”
“Fiserv’s acquisition of the CashMaster product is a strong demonstration of our continued commitment and strategic focus within the cash and logistics market,” said Chris Anderson, vice president and general manager of the Cash and Logistics division of Fiserv. “As organizations extend their domestic and international footprints, our holistic approach to managing the full cash supply chain helps our clients drive down costs, improve revenues and address regulatory challenges at the enterprise level.”
For more information about Fiserv’s Cash and Logistics products and services, please visit their website at www.fiserv.com/cashandlogistics.htm
