Fiserv, a leading global provider of payments and financial services technology solutions, was approved Wednesday for an Emerge grant from the New Jersey Economic Development Authority — one that will lead to the company to bringing 3,000 jobs to a workplace-of-the-future location the Connell Co. is building in Berkeley Heights.
The news of the consolidation — the company is adding 2,000 jobs to the approximate 1,000 it already has in the state — only got better for the state Wednesday.
Fiserv Chief Operating Officer Guy Chiarello told ROI-NJ that the announced job totals are just a starting point for the company’s plans here.
“You shouldn’t take the 2,000 jobs as the end of the journey,” he said. “I think it’s a milestone that we put in place, but I don’t think there’s a cap on this.
A global company with more than 40,000 associates operating in more than 100 countries, Fiserv has a decades-long presence in New Jersey and currently employs more than 1,000 people in the state. For more than 37 years, the company has been committed to furthering diversity and inclusion and to giving back to the people and communities where Fiserv has a presence. This includes a $50 million commitment to help minority-owned small businesses as they emerge from the COVID-19 pandemic.
“This complex, which Connell is renovating with us and for us, is really open-ended. Their vision will be unbelievably attractive to all the people we bring here and hire, both from a living and a socializing perspective as well as a professional perspective.”
Chiarello, a native of New Jersey who has lived and worked here for most of his life, said the location will be great for the state — but its impact will reach further.
“This will be one of the largest consolidated tech hubs, innovation hubs on the East Coast,” he said. “This isn’t just a big thing for New Jersey, we think this is a big thing for the entire East Coast.”
The company’s new campus at 100 Connell Drive includes 428,000 square feet of space in a single four-story building. The location will serve as a strategic Center of Excellence for technology and product innovation, with an innovation lab that will specialize in designing use cases around the future of banking, money movement and commerce, Fiserv officials said.
Fiserv officials said its partners from fintechs, merchants and financial institutions will use the center to innovate with Fiserv to jointly create seamless, simple and meaningful experiences for consumers and businesses. The hub will be one of the largest on the East Coast and leverage the diverse talent from New Jersey to elevate prominence of the payments and fintech industry in the state and beyond.
Chiarello said Fiserv also will partner with local universities, including Rutgers University-Newark, to create programs and opportunities for their students and graduates.
Chiarello said the company is eager to begin the search process.
“I believe we can draw people from major metropolitan areas that surround New Jersey,” he said. “We’re going to be very selective about the talent that comes here. This will be high-tech, next-generation banking, AI and data-related activities, advanced security, fraud and all types of payments.
“It will be a very interesting to see how much we can pull from different parts of the country and different parts of the Northeast.”
Chiarello said the company is looking for all talent of all ages and experiences.
“We’re not only looking for electrical engineers and computer science people; we’re looking for people with good economic business backgrounds,” he said. “We want people who have a multidisciplinary capability to go with it.
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“We’re really looking for well-rounded talent that we can teach and train. We will take people who are young and those with dozens of years of experience. It will be a very balanced portfolio of time experience and career aspirations. I don’t know yet what the percentage of the new jobs are entry level versus mid-level, but it will be across the spectrum.”
The announcement certainly pleased Gov. Phil Murphy, who has preached about creating an innovation economy in the state since his first campaign.
“This announcement from Fiserv is exactly what we envisioned when we created the Emerge program — an innovative company that provides high-paying jobs choosing to expand in New Jersey,” he said in a release. “We’re excited that Fiserv sees what we see in New Jersey, and we look forward to the company’s continued success.”
CEO Frank Bisignano, also a New Jersey native, was thrilled to announce the news.
“Fiserv has been in New Jersey for decades,” he said in a release. “Our new location in Berkeley Heights will be a dynamic hub of collaboration and innovation, bringing our people together in an inspiring workplace environment to create opportunity for unmatched energy and career growth experiences as we move payments and financial services forward on behalf of our clients.
“As part of our investment in this new Fiserv location, we look forward to being a force for good by engaging in and creating positive and meaningful impact in the Berkeley Heights community.”