People, clients are not leaving. The company is growing and a renowned leader in the industry. I get the clerks you interact with at other companies might be sad. But that’s a function of their job not Fiserv. Embrace this opportunity
29 replies (most recent on top)
I'm a current client, core and card services. Already started the deconversion for cards for 1Q 2024. Core is heading in that direction as well. Probably been with Fiserv 20+ years, and I'm not looking forward to all the deconversion headaches that are coming my way, but better products for cheaper prices doesn't leave much reason to stick around. Just had a high level executive of the core division drop by my financial institution last week for a chat on very short notice and they will be back in a few more weeks from now to talk some more. That is not usual. That does not make me think that "all is well" on the core side of things.
I love all my help center people for my core. They fix my broken cr-p 99.9% of the time, but you can hear the stress in their voice. Don't get me started on my relationship manager... the person in that role has changed at least 5 times in the last 5 years. I get an introductory call with promises to connect later and game plan. Next time someone calls its just to introduce themselves as my next new account manager. Gets old to say the least. Haven't had a relationship with one of them for going on 10 years.
I do have an issue with my card services account manager. That lady has no clue what she is doing or talking about... I'd request a new one, but we'll be gone in 4 months so not much point.
Good luck to you all.
The Nebraska office is right next to a great walking trail. Plus it is a short walk to prison. That is two good amenities.
Apparently i have an opportunity to move to a flyover state, yay. A state so desparate for tax payers they arw buying them and FB is selling. Bye Bye DEI score, NEB is low DEI
Fiserv didn't have control of its software before they purchased it from FD. The ISO's have been destroying Clover & FD products to seek revenge on Clients which angered them or their Agent said something while they were stalking them. ISO's know when the client calls Clover or Fiserv service they will get India or Dominican Republic who want have a clue how to fix the problem they just caused. FD sold the software packages that gives ISO's the ability to Stalk clients, Agents & take them down when they don't like what was said about them.
By this time the ISO's have bled them dry & are tired of the service calls they created. So Fiserv purchased something they had Zero control of from the beginning & then you add the layoffs of knowledgeable people who can solve issues to handing it over to foreign service providers who could care less. The clients are jumping ship 🚢 fast & why would they stay.
Lmfao. You’re obviously not in the Banking division. This place is literally one after another termination or “save”. 8/10 clients are unhappy. This division is a sh-tstorm like never before.
Before the merger, we lost clients because the grass was greener in their eyes because of service, quality, customizations, price, etc, you name it. If you treated them nicely on their way out, they typically came back eventually.
Fast forward to now, we’ve lost no less than a third of talented employees through attrition because our new found dictator or RIFs also due to our new found dictator. Sh-t in this division cannot get done in a reasonable time frame. When it finally is completed, it’s so half-ssed because there’s not enough people with the institutional knowledge left to do it correctly.
Then because of all that mess, clients are fed up. They literally quit Frankserv. It was his self fulfilling prophecy. Fiserv wasn’t great but we didn’t have the massive debt burden we do now. So we just slice and dice until every team required to “stay afloat” is tooth pick thin to meet our numbers. Rinse and repeat.
Are you finally tracking now? If not, go back to GBS and tell all your friends about Clover so you can get your god forsaken f’n referral bonus.
All cores are seeing deconversions increase. And some are losing huge clients. Precision lost their second biggest client earlier this year to FIS.
There aren't many new logos at all. Some acquisitions. And sadly, a lot of the conversion work in the past 18 months or so has been clients moving from one fiserv core to another. They deem these as "saves". Basically promising clients that if they just migrate over to this other fiserv core their problems will be solved. Which of course is absurd. But they give them the move for free to entice them so they'll resign a new contract and "stay".
I’m curious which core is having all these deconversions? Are we still selling new logo Precision or Cleartouch deals?
As an x Fiserv now competitor I can say thank you Fsrv for keeping your RMs and sales folks buried in paperwork and admin work w service…we are eating your lunch. Thanks for the sales! There is hope on the other side folks, get out!
My job is directly connected to when clients are bought out or are leaving. I'm the busiest I've ever been and my manager doesn't know what to do with the influx.
Not a great sign.
Lol yes clients are leaving, even they can't stand this place under FB anymore. I work on deconversions, and I get to add new ones to the list weekly. It's so bad we can't even find people to hire either. Some day I'll get to hand in my notice and laugh my way out the door.
Losing a lot of clients can drive short-term revenue with deconversion fees and contract early termination fees. Maybe that is the plan use it to drive up short-term revenue. Long term your f'ed.
Hmmm the OP obviously doesn’t talk to extremely irate clients each day…..it is absolutely true our clients are leaving.
BOOTSTRAPS! Yeah, su-k it up plebs and quit yer b!tchin! Do you even listen to yourself talk? Good Lord.
I'm sorry Frank, and/or Guy, you both su-k mutant monkey testickles. You are driving this thing into the ground. You had a ton of rope due to the size of the company, but your "style" is unsustainable. I've never seen "leaders" so he-l bent on whipping their "subjects" errr I mean employees into submission. You remind me of Robert DeNiro in This Boys Life. Ever seen it?
Our job is to help them leave. We would know if they are leaving or not. Maybe there is a problem with your report? Did you ever check to see if your report's numbers are correct?
If you are making decisions on bad data then you are going to have a bad time.
This is the equivalent of Kevin Bacon shouting, “All is well!!!!”…
Not really, you all clearly need to focus on making Fiserv great. And stop the constant whining.
@kjo+1oeUC3nP, hurts to hear the truth, huh ? LMAO.
Shilly must be right about his numbers regarding clients coming on and clients deconverting.
Remember his math also shows 44000 happy employees and only 200 juvenile malcontents?
Same math determined all these happy clients and the rocketing stock price.
The list of clients currently up for renewal sending in the intent to not renew while buying time to look elsewhere would disagree with you. You’re ignorant or a blatant liar.
I wholeheartedly concur with @kya+1oeUC3nP‘s comments.
Client deconversions have been on the rise for quite sometime, boarding new clients continues to be extremely low. The “potential” new clients communicates very well amongst themselves - word of reference is so key, and unfortunately we’re not impressing anyone anymore. We have more clients leaving then signing with our company. (Reach out to our Clients Implementations teams— their metrics consistently paints a somber picture for our business. Client retention has been suffering.) !! People, these clients are our bread-and-butter.
Ok Frank calm down.
"renowned leader" - Renowned for what actually, destroying companies and making employees miserable yeah he knows how to do that.
Here we go again with the Trump mantra, say it enough times and it must be true.
I personally know of many clients that are not happy. A number of them have left and others are leaving because You failed to deliver promised products. Then there is the deluge of client tickets everyday. How many times will they keep reporting the same issues before they leave? The pile will get smaller as clients leave so I guess that's good news from that perspective.
Lol “opportunity”. Tell me, when do we get to celebrate the success of the company? Even if they’re doing great, FB gave himself another raise this year while most us can’t get a decent raise to keep up with inflation. I haven’t seen any “opportunity” here since before the merger.
I process de conversion requests daily, they are leaving in large numbers and new ones are not coming in
If clients aren’t leaving why is frank laying off people each quarter to meet quota????? I’ve seems client renew only for shorter contracts because it’s so bad. Maybe the WHOLE company is not experiencing this but Banking is feeling it for sure.
Hi Frank!
The delusion is strong with you!
Someone drank the kool-aid