Fiserv Helps More Businesses Get Back2Business with Expanded Commitment to Minority-owned Small Business Community

Rhea-AI Summary

Fiserv (NASDAQ: FISV) has announced an increase in its investment for the Back2Business program from $10 million to $50 million. This initiative, part of the Fiserv Forward Together Plan, focuses on supporting small, minority-owned businesses in various communities. Since its inception, Back2Business has launched in cities like Milwaukee, New York City, and Atlanta, providing financial support and technology solutions. The increased funding aims to address the ongoing needs of small business owners and enhance community engagement.

Positive

• Increased investment in Back2Business from $10 million to $50 million.
• Support for minority-owned businesses and community organizations.
• Established presence in major cities including Milwaukee and New York City.

Negative

• None.

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, announced today that is has designated $50 million for investment in its Back2Business program and associated initiatives, an increase from an initial $10 million investment announced in 2020. Part of the Fiserv Forward Together Plan focused on diversity and inclusion, Back2Business is a multi-pronged initiative to strengthen small businesses in targeted communities, with a specific focus on supporting minority-owned businesses and investing in the ecosystem of community organizations serving diverse entrepreneurs.

“We are well into our initial $10 million commitment to the Back2Business program, and have been humbled by the tremendous stories of resiliency among the small business owners and entrepreneurs who have been part of the program,” said Frank Bisignano, President and Chief Executive Officer of Fiserv. “We’re also keenly aware that the work is not done, and the need remains great, so we are meaningfully increasing our investment in Back2Business. We are proud to continue providing much needed support to small businesses across the country.”

The Back2Business program is designed to strengthen businesses through financial support, business expertise, leading technology solutions such as the popular Clover^® point-of-sale platform from Fiserv, strategic partnerships and community engagement. To date, Back2Business has launched in Milwaukee, New York City, Atlanta, and South Florida, has funded grants to minority-owned businesses, and supported diverse community organizations such as small business incubators and chambers of commerce.

“Back2Business reflects our broader commitment to be a force for good in the communities where we live and work,” said Neil Wilcox, Head of Corporate Social Responsibility at Fiserv. “Increasing our investment to support small businesses will help to strengthen these communities by providing needed resources, technology and solutions to our clients, and contributing to an ecosystem in which small business owners can thrive.”

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover^® cloud-based point-of-sale solution. Fiserv is a member of the S&P 500^® Index and the FORTUNE^® 500, and is among FORTUNE World’s Most Admired Companies^®. Visit fiserv.com and follow on social media for more information and the latest company news.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210209006233/en/

FAQ

What is the Back2Business program announced by Fiserv?

The Back2Business program is an initiative aimed at supporting small, minority-owned businesses through financial assistance, technology solutions, and community engagement.

How much is Fiserv investing in the Back2Business program?

Fiserv is increasing its investment in the Back2Business program to $50 million, up from the initial $10 million.

Which cities are part of the Back2Business program?

The Back2Business program has launched in Milwaukee, New York City, Atlanta, and South Florida.

What is the main focus of Fiserv's Back2Business initiative?

The main focus is to strengthen small businesses in targeted communities, particularly supporting minority-owned businesses.

When was the initial commitment to the Back2Business program made?

The initial commitment of $10 million to the Back2Business program was announced in 2020.