Champion responsible business practices
Holding ourselves accountable to do the right thing
Our commitment to governance starts at the top and is embedded throughout the organization. The board of directors is responsible for providing advice and oversight of the strategic and operational direction of the company to support our and our shareholders' long-term interests. Our board is also responsible for ensuring Fiserv conducts its business in a highly ethical manner.
Our priorities: ESG governance | Cybersecurity | Data privacy | Platform & transaction risk | Ethical foundation | Responsible sourcing
ESG Governance
The Fiserv board of directors has ultimate oversight of our approach to ESG throughout the organization. In its role overseeing risk management, the board, as a whole and at the committee level, is provided regular updates from Fiserv leadership about the risk faced by the company, including those pertaining to ESG topics.
Across Fiserv, associates, committees and working groups contribute to our ESG strategies. Our corporate citizenship and ESG teams work with peers across Fiserv to execute, inform and implement our broader ESG strategies.
Fiserv maintains an enterprise risk management program with a structured risk assessment process that supports strategic planning and decision making. The ERM program, overseen by our risk committee and reviewed annually by the risk and audit committees of the board of directors, provides the foundation for controls and governance necessary to manage risk such as those related to climate.
Cybersecurity
Our Fiserv global cybersecurity services team is responsible for understanding emerging cyber threats and evolving cyber threat capabilities. In doing so, we focus on identifying safeguards to protect information technology and services from cyber threats, discovering cyber weaknesses in technology and associated business processes, and implementing protective processes and technical defenses. Our security posture is designed to allow us to efficiently detect and respond to cyber events, and continually improve the effectiveness of cyber security controls, technology and culture. Our program permits us to dynamically respond to the ever-evolving threat landscape.
Data privacy
Responsible and ethical handling of data at Fiserv, including preserving the privacy and security of data, is central to building and maintaining trust with our clients, associates and other stakeholders. We recognize that a strong data ethics framework is needed. To that end, we continue to focus on a global data ethics framework to manage client and consumer data.
Platform & transaction risk
We enable merchants to connect to payment networks around the globe and, as such, operate a global controls and compliance function to ensure the integrity of the payments ecosystem and comply with network, clearing bank, and local regulations and laws. We often monitor both sides of payments transactions to help protect our clients and consumers from fraud and consumer harm and to prevent prohibited or illegal activity on the network.
Ethical foundation
As part of our Code of Conduct, we support the 10 principles of the United Nations Global Compact (UNGC). This means our associates have a duty to meet responsibilities in the areas of human rights, labor, environment and anti-corruption.
Our Anti-Money Laundering and Counter Terrorist Financing Compliance Program includes comprehensive and mandatory annual training, and is led by a designated Global Financial Crimes Compliance Officer, appointed by the Chief Compliance Officer. The Global Financial Crimes Compliance Officer is responsible for the implementation and operation of Fiserv AML policies and procedures including the Global Anti-Money Laundering and Counter Terrorist Financing Policy and Global Know Your Customer Policy and Minimum Standards.
Responsible sourcing
Our Third-Party Risk Management Program sets forth the guiding principles, standards and associated governance structures to identify, assess, monitor and mitigate risks associated with vendor engagements and our sourcing team and third-party risk management team work to ensure suppliers are in compliance with our policies and principles and that risk assessments of their policies and business practices are conducted.