Fiserv partners with Rutgers-Newark to drive fintech inclusion and innovation

Fiserv, Inc., a leading global payment technology and financial services provider with a growing presence in New Jersey, is partnering with Rutgers University in Newark to create and fund a new program designed to drive diversity and innovation in fintech.

The Fiserv-RU-N Program for Inclusive Innovation will create an on-campus hub that will serve as a research and incubation space for the RU-N community and local businesses, provide annual scholarships to undergraduate students on a five-year period, and supporting career modules to prepare students for internships and jobs.

“Through its synergy with Rutgers-Newark, Fiserv will foster inclusive innovation in New Jersey’s largest city,” said New Jersey Governor Phil Murphy. “Fiserv’s tremendous growth and success in New Jersey epitomizes what a company can achieve when it creates value while simultaneously reflecting the values ​​of its customers. Diversity and inclusion are fundamental principles that define us as New Jerseyans, and I am thrilled that Fiserv is launching initiatives that not only embody, but build on these principles.

Fiserv will also support research involving technology and commerce, such as cybersecurity and legal and ethical topics surrounding fintech.

“Consumer expectations for financial services and payment experiences continue to evolve, creating demand for continued innovation,” said Frank Bisignano, President and CEO of Fiserv. “This program will add a new dimension to our ability to bring together a wide range of perspectives as we develop new responses to the challenges facing our customers and the financial services industry. With nearly every household in the United States having a touchpoint with a Fiserv solution, from digital banking to card payments, we have a tremendous opportunity to deliver capabilities that enhance financial services experiences. We are energized by the opportunity to cultivate great talent and great ideas through the Fiserv-RU-N program.

“This is a watershed moment for Rutgers-Newark. Fiserv is a visionary company that shares our sense of urgency in creating and expanding pathways to business and technology careers for students in our increasingly diverse communities. , and shares our understanding that this helps drive innovation forward. We are creating an unprecedented partnership here in Newark. Its hub will be a Collaborative Innovation Lab on Washington Street, where we can set new standards for the industry. fintech, where experienced professionals will work side-by-side with academic researchers and future professionals from Newark, Greater Newark and beyond, leveraging diversity, creating better and smarter solutions by bringing people together from diverse backgrounds to solve problems,” said Rutgers-Newark Chancellor Nancy Cantor.

Fiserv is a Fortune 500 company with a long-standing presence in New Jersey. The company, which will open a new campus in Berkeley Heights in September, will provide total funding of $5.15 million for the inclusive innovation program. In addition to establishing the center, this funding will support 40 annual scholarships of $2,500 each, including 10 for military veterans attending RU-N and 10 for Rutgers Business School students, with priority given to those studying finance and information technology. Fiserv will also support career modules to prepare students for internships and jobs, including positions within the company.

A major component of the program will be a new Innovation Center on Washington Street, which will house the technology and provide ample space for collaboration and research among the city’s faculty, students and business owners.

“Bringing diverse perspectives to the fintech space allows us to better anticipate consumer needs and better serve customers,” said Guy Chiarello, chief operating officer at Fiserv. “The new ideas generated by this partnership and physical space will spur research and innovation, to help facilitate commerce in the Newark area and beyond.”

In addition to the Fiserv-RU-N program, Fiserv continues to support Rutgers-Newark efforts like the Center for Urban Entrepreneurship (CUEED) and Rutgers Advanced Institute for the Study of Entrepreneurship and Economic Development (RAISED), which work with minorities, women, and veteran-owned businesses in Newark and other cities in the state.

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