https://www.biztimes.com/2019/industries/banking-f

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Future technologies
Among the next wave of technologies Fiserv will integrate are blockchain and artificial intelligence.

Blockchain has proven to be the most secure way to move high-value transactions, so Yabuki expects it will continue to play a role in cross-border or large-dollar-value transactions in the next decade.

“We were actually one of the first companies to move money from banks using a blockchain, and so we’re quite familiar with it,” he said. “And we’re watching. But for the technology to work, it has to proliferate across a number of institutions. And as that happens, we’ll continue to stay involved.”

“This blockchain technology or Bitcoin… has been around for a while already,” Ow said. “But that’s only one technology. There could be other technologies coming in and with a full integration from end to end (in payments), this is where the savings come in.”

Artificial intelligence is already an integral part of Fiserv’s platforms, but the company is always looking for new ways to use it, Yabuki said. Right now, that’s through Robotic Process Automation for billers and financial institutions.

Harnessing big data is a key part of the merger, with Fiserv now gaining access to the data at the front and back ends of millions of transactions.

“They get to see both sides of payment transactions now in a way that almost nobody else can,” Koning said. “They’re getting to see a lot of data that others don’t see.”

“One of the things that we’ve talked about in the context of the First Data transaction is we together have an incredibly robust set of data,” Yabuki said. “And so the ability to use the artificial intelligence and deep learning to create new tools and new ways for our clients to operate, we see as being in the nearer term horizon given where technology has advanced over the last few years and where we believe it’s going.”

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