Leadership at Fiserv is really quite astute. What you are seeing is a focus on the go forward core and that is working well. The angst is in areas that are not go forward and are being greatly streamlined. Simply put becoming used as cash cows or being readied for sale. So if you are staying at Fiserv, find a way to move to those go forward areas.
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Have you seen the list of deconverting banks? The go forward cores are all at the competition!
Here is a good one for you. Today I find out that one of the Indian contractors that were converted to an FTE with sponsorship here is making $25k more than a guy here doing the exact same job with a lot more tenure. This guy is even making more than than other tenured tech employees and given the same title. How is that for cost savings?
We are getting the short end
Finxact is nothing more than cost cutting, merging products and product lines until there’s only a few left to support (support from offshore). Are they cutting costs because they want to make more money or because they want to sell the division is the question that Offshore people should be concerned about.
You misspelled "a stool". You are correct. Fiserv's management is quite a stool.
If Finxact is the go forward core, I can't wait to see the RTO war that is coming with that group. 90%+ of that company if WFH. If Fiserv is going to try and force RTO on them, they'll bail. I better grab my popcorn. Lol.
Precision is dead. It will not recover.
Cleartouch is next for the sla-ghter.
Premier is being maimed but might survive.
They might be getting sold as a package to a bag holder before they "prepare" the other cores for sale.
Maybe they are saving DNA for last?
If you’re in Ohio and losing your job you’re probably walking with the wrong people
Depends on what you mean by 'go forward core'? Since you mentioned 'the' go forward core, I'm going to assume you are talking Finxact. If that is the case, I agree, it's the golden child at the moment, however it's a baby in the world of cores - can't come close to the functionality needed to truly support a financial institution. It'll take years for them to get there. But hey, if that's where they want to put all their eggs - go for it!!! If you are talking the traditional cores - then this is not true!!! The go forward cores such as DNA, Premier, Portico are being decimated by this last RTO objective.
Which core is the go forward? I thought it was DNA but it continues to get ravaged by RTO and layoffs in key areas where we are already struggling?
I'm sure reducing profit at Fiserv by half a billion dollars a year is going to turn out great for Fiserv.
Better idea is to work for a go forward company and drop this loser of a business.
WTF is a “go foward core?” Because that ain’t English. Is that a Frankism? Probably, because it sounds so stupid.
I work for the go forward platforms on a money making product, but because I’m in Ohio and remote, getting let go anyway. Don’t kid yourself.
It’s always been like that. They focus on the positive and forget the negative. Did anyone works in cards when disputes went to sh-t? Lol because no one was reporting all the manual work or lack of resources just the positive.
Then clients can’t do nothing but ask for credits because they don’t want to go to another processors because fiserv used to be known for better services and got stuck to learn term contracts and expensive deconversion fees. So why focus on the negative if people cannot leave. The impactful clients get the resources… I am sure of that.
Yeah… this ain’t it. Even go forward core products are getting hit with layoffs, already understaffed, unable to meet client requirements, but glad to hear your bubble feels safe and happy. Must be nice in the propaganda department.
ROTFL, that anyone truly WANTS to stay here!