Fiserv is again struggling in the vulnerability and obsolescence management space. Numerous products are stuck on Windows Server 2012, others still haven't addressed log4j critical vulnerabilities that are instant compromise ease.
Remember the SolarWinds catastrophic breach of hundreds of customers based on their neglect of cybersecurity? If I were an adversarial nation-state cyber program like China, Russia, North Korea, I'd just obtain the list of customers using various Fiserv products. When 100 or more U.S. banks are compromised and it traces back to a banking core like Fiserv, how would that affect stock prices? Regulatory attention? Mass litigation?
It seems the only cyber security technology Frank Bisignano appreciates is that which spies on his employees. SolarWinds Day is coming if Fiserv doesn't radically change course. It's not the Fiserv employees or security experts at fault, it's the Jack Welch "cut out the bone to find quarterly profit" management style Frank inherited from KKR.