Some of the best people I’ve worked with in my career were at original Fiserv. As a recent alum (left on my own terms) the writing has been on the wall for years. FD bought Fiserv with Fiserv money. Frank doesn’t/didn’t know how to manage a healthy company and is using Fiserv cash to strengthen Clover. FD has always been focused on the top 5% - 10% of the issuers and can care less about CUs and community institutions. They have FD leadership in place that doesn’t understand their P&L and hasn’t taken the time to understand the BUs they manage. The people being let go are all in the service, support/implementation side so those products will collapse and they will sell off the BUs. It’s a “when” not an “if”. The days of hitting $140 on the stock price and splitting are in the past, that left with Yabuki. Lastly will the the leadership just own it and call themselves First Data again. So I have to ask again why is anyone surprised…leopards don’t change their spots.
6 replies (most recent on top)
Fiserv is not a bank. It’s a software company supporting banks.
If First Data was so amazing and Frank has been so great then why are you Fiserv now and why are OFD people also saying how Frank stepped in there and brought the place to its knees? Must have been First Data's First in class security hahaha. Original Fiserv Card Services still out performs and out earns everything. can't wait till they put the final nail in that coffin and the whole house of cards falls. Already looking for Finxact to replace "legacy systems". Id--ts
Fiserv's DEBT ratio is 2.9%, which is typical for any Fortune 500 company. Do you not understand that?? Most every company carries a certain amount of debt.
I'll take 4-5% growth for decades on end with 16 billion less in debt any day
Let's face it - our entire financial system is one giant pozi scheme otherwise this would never be allowed... Fiserv 21+ billion in debt with no possible payoff within decades & they keep eating up companies. And analysts can't even be bothered to hold their feet to the fire
Are you a consultant in the industry now with your own special interest? Or at a competitor? You don't have a clue. Frank knows more about banks and financial institutions than you will ever know. He just delivered 11% revenue growth on a $16.5B base, when your crowd ran ofsv you could never deliver more than 3-4% on a meager $4.5B. Who's capable and who's not...oh yea pretty obvious as is your conflict!