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“At Fiserv, we believe that data can be used not only to better understand the financial health of consumers and small businesses, but also to create opportunities for greater financial inclusion.”
Fiserv has partnered with the Georgia Institute of Technology on a 3-year initiative to understand consumer financial health with the goal of including Fiserv funding and financing and payments.
The Financial Services Innovation Lab (FSIL) serves as an interface between the financial services industry and Georgia Tech students and alumni.
The partnership will allow Georgia Tech researchers to use Fiserv data to develop insights into household financial behavior, which will be useful to policymakers, consumers and small businesses.
Suder Chava, professor of finance at Georgia Tech’s Scheller College of Business, who leads FSL, said, “With annual inflation in the U.S. over four decades, it’s critical to understand the financial health of American consumers and provide new ways to increase their financial capabilities. We combine unique data insights with our team’s expertise in household finance and big data analytics to provide high-value insights into how major economic trends, such as inflation, affect U.S. consumers and small businesses.
Prasana Dore, Chief Data Officer at Fiserv, commented: “At Fiserv, we believe that data can be used for greater good not only to understand the financial health of consumers and small businesses, but also to create opportunities for greater financial inclusion. By partnering with Georgia Tech, we can increase our understanding of the people and businesses who use our solutions every day and take action to positively impact people’s financial lives.
Fiserv enables the movement of money for thousands of financial institutions and millions of people and businesses, and now they want to work with FSIL researchers to create valuable insights into how consumers and small businesses are suddenly affected to build a holistic picture of consumer spending and financial health. Economic changes as well as larger economic trends.
Fisser appoints Mi Riang (Miriam) Park as General Manager of Korea; There, she will lead the company’s domestic payments business in Seoul, South Korea.
Park brings a wealth of knowledge and expertise to Fiserv with over 30 years of experience, including roles in digital transformation and leadership in the payments industry.
Miriam Park joins Fiserv from UnionPay International, where she led the development and infrastructure of the North Asia card issuance business and the growth strategy in the Americas.
Prior to that, she spent three years at BC Card and 18 years at Visa in a number of leadership and business development roles.
Fiserv works closely with Karat to provide omnichannel payment solutions to merchants in South Korea. FinTech provides payment solutions for the domestic market, including MoneyOn and FirstPay, enabling integrated online and offline payment solutions.
To accept offline payments, Fiserv works directly with merchants and payment partners to connect thousands of merchant payment terminals or point-of-sale (POS) devices for payment authentication and authorization.
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