Milwaukee, WI – Payment technology heavyweight Fiserv has snapped up Smith Consulting Group, a Florida-based advisory firm specializing in banking platforms, in a strategic move to tighten its grip on the financial technology services market.
Roughly 70 Smith Consulting staff will now fold into Fiserv’s financial solutions unit, according to the company. While financial terms remain under wraps, the acquisition underscores Fiserv’s bid to deepen its expertise in core systems used by community banks and credit unions.
“This is about embedding sharper technical insight where our clients need it most,” said Andrew Gelb, head of financial solutions at Fiserv. “By absorbing a proven consulting team into our service model, we can help institutions move faster and with greater clarity.”
From Longtime Partner to Full Integration
Smith Consulting has worked alongside Fiserv for over a decade. Its consultants specialize in platform conversions, teller and call center technologies, and customer service infrastructure—areas where banks and credit unions often struggle to manage complexity without external help.
The move also reunites founder Darren Smith with his former employer. Before launching Smith Consulting in 2009, Smith spent five years as a vice president at Fiserv. The consulting firm, which marked its 15th anniversary earlier this year, will now report into Dudley White, president of Fiserv’s core account processing unit.
“Technology in financial services is moving at a pace that demands deeper subject-matter expertise,” Smith said in a statement when reflecting on the industry’s trajectory. “Most institutions cannot sustain that internally, and this acquisition acknowledges that reality.”
Analysts: A Practical Play
Equity analysts at Baird Research called the deal a practical step for Fiserv, one that will accelerate platform migrations and tech rollouts for smaller institutions. “This expands Fiserv’s ability to manage the heavy lifting of system upgrades, while keeping client institutions focused on growth and compliance,” the note said.
While no dollar figure was attached to the transaction, the acquisition signals Fiserv’s intent to consolidate talent around its ecosystem, tightening its role as both technology provider and consultant to the very institutions it powers.
