Fiserv signs definitive agreement to acquire StoneCastle Cash Management

Fiserv (FI) announced it has signed a definitive agreement to acquire StoneCastle Cash Management. This acquisition enables Fiserv to become a technology-enabled source of billions of dollars of institutional deposits, including from Fiserv’s enterprise customers. This helps financial institutions strengthen their balance sheets by integrating insured deposit products alongside their core account processing, digital banking, payments and cash-management capabilities across the Fiserv ecosystem. “Acquiring StoneCastle is an important step forward in our strategy to help financial institutions optimize their balance sheets, which will enable them to do more in the communities they serve,” said Andrew Gelb, Head of Financial Solutions at Fiserv.