Fiserv Announces Patent Infringement Lawsuit
BROOKFIELD, Wis.--()--Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today reported that its wholly owned subsidiaries, CheckFree Corporation and CashEdge, Inc., have filed a patent infringement lawsuit against Fidelity National Information Services, Inc. (“FIS”) (NYSE: FIS), and Metavante Corporation, a wholly owned subsidiary of FIS, in the United States District Court for the Middle District of Florida.
The Lawsuit alleges that FIS infringes on Fiserv’s patents when it provides customers with certain financial and payment solutions, including FIS’s Payment Manager products, which process inter-bank account-to-account fund transfers, process payment instructions, and provide electronic biller notifications as an integral part of its electronic bill payment processes.
The Company stated, “Fiserv is a leader in providing innovative and complex technology solutions and has devoted significant resources developing and maintaining an extensive intellectual property portfolio. These valuable assets, and the patent protection Fiserv has been granted, enable Fiserv to create and deliver cutting-edge technologies that meet evolving market needs. We have a responsibility to protect our intellectual property from further infringement and exploitation.”
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) is a leading global provider of information management and electronic commerce systems for the financial services industry, driving innovation that transforms experiences for financial institutions and their customers. For six of the past eight years, Fiserv ranked No. 1 on the FinTech 100, an annual international listing of the top technology providers to the financial services industry. For more information, visit www.fiserv.com.