https://www.paymentsdive.com/news/fiserv-ceo-frank-bisignano-maniacally-focused-cuts-expense-management-margins-debit/636567/
7 replies (most recent on top)
FB is already $100MM richer just in stock this year alone. Look up how much he has been given/exercised.
@fux+1jQAtP8T FIs are letting us know. They're locked into contracts they can't get out of, so the words are falling on deaf ears.
FB knows how long the cycle is for an FI to move from one company to another... by then he will be 100 mil+ richer & off to retirement
Unless FI's make their opinions heard now, it won't change
3 - 7 is how long Frank has. Probs 4 max. Inflation is inflating our numbers like crazy. Strip that s—t out and let me see the actuals. 8.3% increase for 2023 will make the numbers go “wowwwwww” as our clients go “stfu with this terrible service”. GTFOH
From Frank's perspective, facilities last longer than employees. And he will make sure it stays that way.
As he burns the new banking org to the ground with layoffs. That recurring rev is going to evaporate in 3-7 years. Clients are beyond mad. Feel bad.
And here we are dumping money into unnecessary facilities. Seems awfully hypocritical.