It always amazes me how cr-ppy I fiserv treats their clients. Bad pricing, strong arming negotiations because they are fortune 500 company and it’s hard deconvert , and allowing people with little regard to how they impact that client and even the economy, the slightest increase are passed down to its card holders, but sometimes the increase that Fiserv gives are really high and then question why people make drastic decisions to choose other vendors leave like if they’re the only ones that offer this service… maybe yes it’s hard to leave but once they get to leave, they are leaving. Like stop putting your profits over clients - stop putting your profits over employees and maybe and just maybe your stock will make it over $70. Should be ashamed of themselves. This is what happens when you merge with a sh-t company, place the same sh-t company leaders in high positions after the merger and wonder why it’s going to sh-t. Change your leadership.. change your culture.
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Deconversion fees can be used to create the illusion of growth. Fiserv wants all of the clients right over the edge of leaving, so the only way they stay is if Fiserv gives the customer a gift. Then when they want the deconversion fee, Fiserv can withhold the gift and the customer will pay extra money to leave.
That is not an ethical way to run a company.
Leaving doesn’t mean the grass is greener, other core products are just as or more outdated. Now would be the time for a strong startup to start stealing client by client with amazing integrations that don’t take months to implement but rather auto deploys same day, UI made for bankers, and easy to mine data.