BankServ
| Formerly | Nova Payments |
|---|---|
| Industry | Financial services |
| Founded | 1996 |
| Headquarters | Enterprise, Nevada |
Number of locations | 400 banks in more than 50 countries |
Area served | Las Vegas San Francisco Salt Lake City Houston London |
Key people | Dick David Kvederis |
BankServ operated as a financial services provider headquartered in Enterprise, Nevada, focusing on electronic banking software and outsourced data processing solutions designed to enable electronic funds transfers for banks and corporations. Established in 1996, the company delivered software products supporting remote deposit capture, online bill payment, mobile payment systems, wire transfers, and SWIFT messaging to over 400 financial institutions spanning more than 50 countries.
History
Beginning in 2004, BankServ broadened its offerings by entering the consumer remote deposit and electronic bill payment markets, alongside credit card processing services. That same year, it expanded internationally by acquiring Symtec Corporation, based in London. The firm received several honors, including repeated nominations to Inc. Magazine’s Inc. 500 and Inc. 5000 lists recognizing the fastest-growing private enterprises from 2003 through 2010.
In January 2004, BankServ purchased Symtec Solutions, a UK-based company specializing in international money transfer and SWIFT network software.
May 2009 marked BankServ’s acquisition of Commerciant, a Houston company providing wireless credit card processing technologies. This enabled BankServ to supply handheld devices facilitating mobile credit card transactions.
In 2010, BankServ acquired NetDeposit from Zions Bancorporation via a cash deal, significantly increasing its check processing capacity and incorporating branch capture plus mobile check deposit technologies. This acquisition expanded remote deposit services to serve more than 100,000 business clients throughout the United States.
Private equity firm GTCR took a controlling stake in BankServ in August 2011 to bolster its growth initiatives. GTCR’s investments focus on rapidly expanding companies within the financial and technology sectors. Later that year, GTCR combined BankServ with Fundtech, an Israeli payments company; the merged organization was headquartered in Jersey City, New Jersey.
In April 2015, D+H completed the purchase of Fundtech from GTCR.
On June 17, 2017, D+H announced its own acquisition by Vista Equity Partners along with a merger with Misys, creating Finastra with an estimated enterprise value near $4.8 billion.