SHAZAM

About

SHAZAM is a member-owned financial services technology provider and debit network serving community banks, credit unions, fintechs, merchants, insurers and healthcare organisations. It traces its origins to 1976, when the Iowa Bankers Association brought community banks together to form the Iowa Transfer System, which later became SHAZAM. Its products include the Peregrine debit processing platform, the SHAZAM Payments Network, DigiHive digital banking, KinetiCore core banking and DocuCommand information management, plus security and compliance services. As a cooperative, it is governed by its member financial institutions on a one member, one vote basis and reinvests its earnings rather than paying outside shareholders. Its history includes an integrated point-of-sale pilot in 1981, pay-at-the-pump technology in 1986 and the Privileged Status surcharge-free ATM network, launched in 1997.