COMPANY·HISTORIES
NAIC 522320

Financial Transactions Processing, Reserve, and Clearinghouse Activities

How the companies in this industry began, and the forces that shaped them.

14companies1851–1997founding years10still active4no longer operating
§ 01

The industry over time

Companies foundedEconomyTechnologyEnvironment
FoundedWestern Union Financial Services, Inc.FoundedWestern Union Financial Services, Inc.
1851
FoundedAT&T CorporationFoundedAT&T Corporation
1885
1903
TechnologyThe Wright brothers achieve powered flight.
1908
TechnologyThe Ford Model T brings the automobile to the middle class.
1913
EconomyThe Federal Reserve is created.
1914
EconomyWorld War I begins; global trade reorders.
1929
EconomyThe stock market crashes; the Great Depression begins.
1933
EconomyNew Deal reforms reshape banking and industry.
1939
EconomyWorld War II begins; wartime production surges.
1945
EconomyThe war ends; a long postwar expansion begins.
1947
TechnologyThe transistor is invented at Bell Labs.
1956
EconomyThe Interstate Highway program remakes commerce.
1958
TechnologyThe integrated circuit is demonstrated.
FoundedCertegy, Inc.FoundedCertegy, Inc.
1961
1962
EnvironmentSilent Spring launches the modern environmental movement.
FoundedConcord EFS, Inc.FoundedConcord EFS, Inc.
1970
EnvironmentThe EPA is founded; environmental regulation expands.
FoundedFirst Data CorporationFoundedFirst Data Corporation
1971
EconomyThe dollar leaves the gold standard; Nasdaq opens.
1973
EconomyThe OPEC oil embargo triggers a global shock.
1975
TechnologyThe personal-computer era begins with the Altair.
1979
EconomyA second oil crisis drives inflation higher.
1981
TechnologyThe IBM PC launches and sets a standard.
1984
TechnologyApple ships the Macintosh; the GUI era begins.
1987
EconomyBlack Monday: markets fall 22% in a single day.
FoundedAffiliated Computer Services, Inc.FoundedAffiliated Computer Services, Inc.
1988
1991
TechnologyThe World Wide Web is released to the public.
1993
TechnologyThe Mosaic browser brings the web to everyone.
1995
TechnologyWindows 95 launches; the internet goes mainstream.
FoundedNordea ABFoundedNordea AB
1997
EconomyThe Asian financial crisis rattles global markets.
EnvironmentThe Kyoto Protocol sets the first climate targets.
1999
EconomyGlass-Steagall repeal reshapes American banking.
2000
EconomyThe dot-com bubble bursts.
2001
EconomyThe September 11 attacks; a recession follows.
2004
TechnologySocial media and Web 2.0 begin to take hold.
2007
TechnologyThe iPhone launches the smartphone era.
2008
EconomyThe global financial crisis freezes credit.
2010
TechnologyCloud computing goes mainstream for business.
2015
EnvironmentThe Paris Agreement sets global climate targets.
2020
EconomyThe COVID-19 pandemic upends the global economy.
2022
EconomyInflation spikes; central banks raise rates sharply.
2023
TechnologyGenerative AI reaches mainstream business use.
§ 02

The companies

Western Union Financial Services, Inc. →
Active · founded 1851
Western Union Financial Services, Inc.
Western Union Financial Services, Inc. →
Active · founded 1851
Western Union Financial Services, Inc.
AT&T Corporation →
Active · founded 1885
AT&T Corporation organizes its business into two segments, business services and consumer services.
AT&T Corporation →
Active · founded 1885
AT&T Corporation organizes its business into two segments, business services and consumer services.
Certegy, Inc. →
Active · founded 1961
Certegy, Inc.
Certegy, Inc. →
Active · founded 1961
Certegy, Inc.
Concord EFS, Inc. →
Active · founded 1970
Concord EFS, Inc., based in Memphis, Tennessee, provides a full range of electronic payment and deposit services, from…
Concord EFS, Inc. →
Active · founded 1970
Concord EFS, Inc., based in Memphis, Tennessee, provides a full range of electronic payment and deposit services, from…
First Data Corporation →
Defunct · founded 1971
In 1995 two of the world's largest financial data processing businesses--First Financial Management Corporation and…
First Data Corporation →
Defunct · founded 1971
In 1995 two of the world's largest financial data processing businesses--First Financial Management Corporation and…
Affiliated Computer Services, Inc. →
Defunct · founded 1988
Affiliated Computer Services, Inc.
Affiliated Computer Services, Inc. →
Defunct · founded 1988
Affiliated Computer Services, Inc.
Nordea AB →
Active · founded 1997 · Sweden
First off the starting block among pan-European banking mergers--a trend expected to boom in the early years of the…
Nordea AB →
Active · founded 1997 · Sweden
First off the starting block among pan-European banking mergers--a trend expected to boom in the early years of the…
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