Congratulations leadership team! You’ve wiped out 7 years of growth in 2 quarters - but don’t fear…This new leadership team will bring it back - even though they haven’t got the first clue how to address the complexities of the various acquisitions of the last 2-3 decades.
16 core platforms to 5!..Yeah, right. If you force a bank/cu customer through a conversion then they will RFI/RFP to the competition and you will probably lose that client for causing them pain. Add to that the continuing shrinking of the FI business in the US through acquisition, merger and liquidation…It’s ugly!
The fact that the CEO threw out Agentic AI as the savior technology within the first few minutes of the presentation just shows they’ve been spoon fed by their consulting advisors (e.g. McKinsey, Bain, etc). There isn’t a single person in the leadership team that can describe how that would work against their biggest problems - i.e. Customer Satisfaction.
Let’s see how this changes for full year results.