Fiserv will also support research involving technology and commerce, such as cybersecurity and legal and ethical topics surrounding financial technology
Fiserv, Inc., a leading global provider of payments and financial services technology with a growing presence in New Jersey, is partnering with Rutgers University-Newark to create and fund a new program designed to drive diversity and innovation within the financial technology field.
The Fiserv-RU-N Program for Inclusive Innovation will create a centre on campus that will serve as a research and incubation space for the RU-N community and local businesses, provide annual scholarships for undergraduate students over a five-year time span, and support career modules to prepare students for internships and jobs.
Fiserv will also support research involving technology and commerce, such as cybersecurity and legal and ethical topics surrounding financial technology.
Consumer expectations for financial services and payment experiences continue to evolve, creating a demand for continuous innovation, said Frank Bisignano, Fiserv Chairman and Chief Executive Officer.
This program will add a new dimension to our ability to bring together a diverse range of perspectives as we develop new answers to the challenges faced by our clients and the financial services industry. With nearly every household in the U.S. 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’re energized by the opportunity to cultivate great talent and ideas through the Fiserv-RU-N program, he said.
This is a watershed moment for Rutgers-Newark. Fiserv is a visionary company that shares our sense of urgency in building and broadening pathways to business and tech careers for students from our increasingly diverse communities, and shares our understanding that doing this helps drive innovation forward, said Rutgers-Newark Chancellor Nancy Cantor.
We’re creating an unprecedented partnership right here in Newark. Its nerve centre will be a collaborative innovation lab right on Washington Street where we can set new standards for the fintech industry, where experienced professionals work side by side with university researchers and professionals of tomorrow from Newark, Greater Newark, and beyond, leveraging diversity, creating better, smarter solutions by bringing people from many backgrounds together to tackle problems, she said.
A major program component will be a new innovation centre on Washington Street, which will house technology and provide ample space for collaboration and research between faculty, students, and city business owners.
Bringing diverse perspectives into the financial technology field enables us to better anticipate consumer needs and serve clients, said Guy Chiarello, Chief Operating Officer at Fiserv. The novel insights generated by this partnership and physical space will spur research and innovation, to help facilitate commerce in the Newark region and beyond.