The cure is not in cutting costs. The cure is to innovate its way out of the current
predicament. Fiserv seems to be missing that point. Sure you can increase EPS by buying back stock and laying off employees, but thats not going to grow top line revenue. No one is impressed with management’s plans, and the stock price is reflecting that.
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They don't care. I was on a call with my VPs and SVPs basically telling them there is no way we can support the development hours that 2 new requests will cause above the already insane number of hours we are already committed. My VP's response is well there will have to be some magic. So we will end up cutting all kinds of corners, have 3 months of rework for defects, and everyone will be complaining. Hope I get laid off soon.
The problem with this company is that we spend years working on a new solution and then some new SVP gets some clever idea, wants to leave their mark, and decides to scrap all that work for some new solution. Disorganized MESS. Just imagine what the clients must think when we suddenly change direction like this.
Real talk:
I left Fiserv more than a year ago, but coming back here regularly has become my guilty pleasure.
It’s very entertaining watching a toxic former employer go down the drain.
@OP Did you actually work for ficrap???
They don't create or innovate Anything.
This a horrible company to employees and customers. I still don't understand though why any business would use them. They really think AI is going to save them. Does it help do some things to make aspects of the job easier, yes some. Will they're 50+ million ai compute investment payoff? Don't hold your breath.
I mean its pretty clear.... read between the lines... they are trying to get the stock price stable and are shifting the business units to be more siloed. This indicates carving off sections of the business for sale.
Pile on the slop as high as you can, you will survive. Eye of the tiger 🎶
Innovate what? Fiserv hasn’t created a new product since the Clinton administration. Everything new has been acquired. And the irony is that everything acquired has been left to rot on the vine due to lack of innovation.
@a3 Replacing your thought process with AI, Fiservant of the year.
simple ai search gives what to be changed at Fiserv.
Crucial Strategic Changes RequiredTo translate AI experiments into sustainable top-line growth and defend its competitive moat, Fiserv must execute several structural adjustments:1. Decouple Core Banking Software via Open APIsTraditional, monolithic banking platforms require intense manual coordination to scale. Fiserv needs to actively transition its core products into modular, microservice-based architectures fueled by Open APIs. This allows banks to plug third-party AI agents directly into Fiserv networks without encountering expensive integration friction.2. Accelerate Capital Divestitures of Non-Core AssetsFiserv is bogged down by lower-growth legacy products, such as traditional cash infrastructure. Following its recent joint venture with Bridgeport Partners for ATM services, the company must continue divesting hardware-heavy, low-margin legacy assets. Capital should be aggressively reallocated to high-margin SaaS ecosystems like Clover.3. Monetize Zero-Copy Data InteroperabilityFiserv captures highly valuable transaction data from 100% of US households. To prevent this data from rotting in silos, the company needs to expand cloud partnerships, like its zero-copy architecture via Snowflake. Monetizing dynamic data clean rooms allows fintech clients to securely build custom AI models on top of Fiserv's anonymized transaction flows without incurring data-movement costs.
“AI” is their innovation and what the company is banking on for success. They would love if AI delivers on its promise which will result in cutting half the workforce.