Fiserv’s AppMarket has welcomed PortX Fintech Hub, a
platform that aims to simplify the integration of financial technology solutions
for banks and credit unions. This collaboration promises to accelerate time to
market for financial institutions by providing a cost-effective and streamlined
approach to connecting with fintech partners.

PortX Joins Fiserv’s AppMarket

PortX, a provider of Integration-Platform-as-a-Service, joined forces with Fiserv to introduce the Fintech Hub on Fiserv’s
AppMarket. This new platform aims to provide Fiserv clients with access
to a range of fintech solutions.

With the launch of Fintech Hub, PortX will play a role in onboarding new fintech solutions to Fiserv’s AppMarket. This
partnership aims to offer financial institutions an increasing number of collaboration options, reportedly enabling them to attract new customers
and boost operational efficiency.

PortX’s Fintech Hub is now a pre-integrated app
available on Fiserv’s AppMarket. This marketplace offers Fiserv clients quick
access to top fintech solutions, providing them with the tools to stay ahead in
a competitive landscape.

By streamlining fintech integrations with Fiserv’s
Premier bank platform, PortX enables institutions to easily leverage their data
through cost-effective, reliable, and reusable API-led connectivity.

According to the two companies, this integration model allows Fiserv clients to
maximize the value of Communicator Open, Fiserv’s open banking initiative, by
facilitating connections between their Premier core and third-party
systems. This, in turn, reportedly reduces costs associated with integration and vendor
management, making the process faster and more efficient.

Connectivity-as-a-Service

By offering pre-built connectors to Communicator
Open, PortX seeks to enable Fiserv’s clients to integrate third-party systems more
quickly and at a lower cost. This approach accelerates the time to market and
reportedly reduces operational expenses, providing a scalable
solution for financial institutions.

Recently, PayPal boosted its collaboration with Fiserv to facilitate the checkout experience for businesses across the US. This partnership, which has spanned over a decade, seeks to enhance how Fiserv’s merchant clients can integrate PayPal’s payment solutions.
According to the entities, the expansion of their collaboration focuses on streamlining the process for Fiserv’s merchant clients to offer PayPal and Venmo as payment options.

Meanwhile, Fiserv released its financial results for the second quarter of 2024 in July, underscoring a significant boost in earnings. The company’s revenue grew by 7% to $5.11 billion compared to the same period last year.

This article was written by Jared Kirui at www.financemagnates.com.

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