Iteris and Fiserv: Partnership for Agile Transformation in the Payments Market

Introduction

Fiserv (NYSE: FI), a global leader in payments and financial technology, has been partnering with Iteris in the challenge of agile transformation and digital solutions development since 2018.

Focused on agility in the implementation and provision of cutting-edge technology with flexible and tailored solutions throughout the payment ecosystem, Fiserv found in Iteris the partnership of excellence to promote the culture of agile and value-driven deliveries for its business.

Scenario

In seeking our partnership, Fiserv recognized the need to develop new digital products and services at an even faster pace to stay ahead of the competition in a constantly changing market. The company faced the challenge of transitioning to agile methodologies, as it was crucial at that time to adopt a more efficient strategy that would enable project delivery without compromising security and legal compliance.

“We understand that in a world that moves faster than ever, we need agility and efficiency to help our clients offer solutions that adapt to how people live and work today. Speed and constant innovation in highly complex projects were our challenges, and we needed committed partners who already had an understanding of our culture and our level of demand and security in Brazil,” said Gilberto Rodrigues, Director of Technology Operations for Latin America at Fiserv.

Challenge

Aware of the importance of an agile approach to achieve their goals, Fiserv sought a reliable and specialized partner in this methodology for software development, scaling their products and services. Initially, there were two challenges:

• The development of a mobile application for real-time sales and cash flow management for Fiserv’s customers, used by Bin, their own acquiring brand (Bin Management App), and by Azulzinha (Azulzinha’s App), as well as their strategic alliances (Sicredi Management App and Bancoob Management App).
• A solution for online accreditation for Bin acquiring franchisees to register their customers.

With the initial positive results of these projects and consistent deliveries in a short period, the company decided to expand this methodology to the entire Products and Technology area. This strategic choice demonstrated recognition of the benefits provided by the agile approach and a desire to boost project efficiency and speed on a national scale.

“We saw in the agile methodology the opportunity to improve our processes and go beyond, demonstrating value to our customers. In addition to supporting us internally, Iteris used the methodology in the prototyping of credit card management in a competition process with a major player in the food retail industry. Making this initiative tangible was of great importance for us to win that negotiation,” said Gilberto Rodrigues, Director of Technology Operations for Latin America at Fiserv.

Agile transformation

With over 14 years of expertise, Iteris proposed and executed the agile transformation model through Squads, working on methodology adoption, training internal teams, and providing highly trained professionals ready to take on the proposed challenge. Initially, five Squads were created for different fronts, in addition to a shared Squad responsible for supporting other teams, composed of an Agile Coach, Architect, and UI/UX experts. Iteris began operating from product conception to final delivery with production support.

Fiserv then initiated a transition process, training its team and restructuring its internal processes. With the implementation of agile methodologies, projects started being delivered in shorter cycles, allowing for a rapid response to market changes and needs. The confidence and autonomy gained allowed Fiserv to operate independently in the new agile paradigm, becoming a reference for other units in Latin America.

 Iteris and Fiserv: global expansion

Based on the positive results achieved, the partnership between Fiserv and Iteris expanded geographically and also to other business units, such as Software Express, a company incorporated by Fiserv in Brazil in 2019, and other operations in Latin America. Currently, there are more than 30 squads with special projects, and this expansion reflects the excellence of the services provided, strengthening the partnership.

“The difference with Iteris lies in the training of its employees, with an immersion that values Fiserv’s culture and all the stringent requirements of our security policies. Our partnership has been ongoing since 2018, and it’s largely because Iteris employees arrive prepared to work at Fiserv, paying attention to IT processes. This helps us ensure a shorter learning curve while respecting all our standards and compliance,” stated Rodrigues.

Achieved results

During this partnership, several successful projects deserve recognition throughout Latin America. Here are some numbers:

• Fiserv online, a tool for Bin franchisees, Fiserv’s acquiring brand, to register new customers, with the potential to achieve up to 25,000 accreditations per month.
• The “App Gestão”, which has reached peaks of up to 5,000 simultaneous accesses.
• Gpag, an app that centralizes all financial transactions in one application, allowing the management of all receivables in the palm of your hand.
• The construction of a more modern front-end for FirstVision in Latin America, offering clients increased productivity in front-office operations for credit cards.
• Development and maintenance of APIs for the prepaid product of one of the leading convenience store chains in Mexico, processing an average of 2 billion transactions per year.
• Production and support of a new European version of the Merchant Portal, serving Brazil and North Latin America.
• The construction of a basic Mobile Banking application that will be offered as a complement to SignatureCore through the North American branch of Iteris (Briteris).

In some of the listed projects, Iteris provided a team of specialists in record time to enable product development and met the specific requirements of some clients in less than 60 days.

The partnership was globally recognized, and the methodology incorporated in Brazil has become a reference for other countries in Latin America and Europe.

 About Fiserv

Fiserv, Inc. (NYSE: FI), a Fortune 500 company, 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 the best results through a commitment to innovation and excellence in areas such as account processing and digital banking solutions; card processing and network services; payments; e-commerce; acquiring and business processing; and the cloud-based point-of-sale solution Clover®. Fiserv is a member of the S&P 500® Index and one of Fortune® World’s Most Admired Companies™. Visit fiserv.com.br and follow on social media for more information and the latest company news.

About Iteris/Briteris

Founded in 2009 by Fernando Riva, Marcelo dos Santos, and Sérgio Ferreira, Iteris is a Brazilian multinational IT services company with over 100 clients from various sectors in Brazil and around the world, including Globo, Nutrien, Itaú, PagBank, and Fiserv. In 2021, the company expanded internationally and established its subsidiary in the United States, BrIteris. In 2022, Iteris was featured in the ISG Provider Lens™ in the Agile Application Development Projects and Application Quality Assurance categories and was recognized as one of the best companies to work for by GPTW in the categories of Multinational with up to 999 employees, State of São Paulo, and Information Technology.