PYMNTS· PYMNTS·· 2 hours agoAI score52
Fiserv Raises Project Elevate Cost-Cutting Target to $1 Billion
Fiserv Wants AI to Fix What Decades of Payments Growth Made Expensive
AI brief
AI-assisted source summary · not independently verified. Content standards
In its third-quarter earnings release, Fiserv raised Project Elevate’s cost-cutting target to $1 billion and plans to advance its restructuring through AI, software consolidation, and streamlining overlapping infrastructure. The company said AI agents in Clover’s risk retention process cut decision times by two-thirds and reduced false positives by more than 40%; overall organic revenue was flat in the third quarter.
Source:PYMNTS · pymnts.com