FiServ Catches Flaw Compromising Data at 100's of FIs Posted by Association of Vermont Credit Unions on 12:37 PM

Yesterday, a report by KrebsOnSecurity confirmed that Fiserv recently fixed a web platform weakness that exposed personal and financial details of customers across hundreds of financial institutions' Web sites.

Fiserv is a Fortune 500 company with 24,000 employees and $5.7 billion in earnings last year. Its account and transaction processing systems power the Web sites for hundreds of financial institutions, mostly small community banks and credit unions. According to FedFis.com, Fiserv is the top bank core processor, with more than 37% market share.

KrebsOnSecurity reported that Fiserv said in a statement that the problem came from an issue with "a messaging solution available to a subset of online banking clients." While Fiserv did not release the impact of this flaw, KrebsOnSecurity said it was told by experts that roughly 1,700 financial institutions currently use its retail banking platform.

The flaw could have potentially allowed a cybercriminal to target those customers who have signed up for such banking alerts. Fiserv has since fixed the issue.