Been following the thread on today's business update, but noticed this article after a separate online search...
https://www.paymentsdive.com/news/fis-seeks-to-sell-parts-of-capital-markets-unit/826952/
9 replies (most recent on top)
@e4 you're not enjoying the ride on the Titanic?
@ab MBP is being sold?
@da yes! Sell us to someone else and get us out of this place
Worldpay seems a lot happier now
@d2 are you referring to when she said something to the effect of "now that we're down to the important people" after the global feed was supposed to have ended? It was interesting to me that they cut that part out of the replay. It did seem telling in the sense of her intentions.
PLEASE sell capital markets!!!!
@c8 The thing is that Stephanie wants FIS to be a payments (TSYS) business. She had a hot mic moment during a town hall and admitted as much. All actions taken since the TSYS acquisition are all pointing to the same outcome. Capital Markets is the first domino to fall.
@b4 Who would have thought that cutting the development budget year on year on year could hinder the growth of a software business.
It seems clear that there is a plan to start selling off the underperforming pieces. No one is asking WHY they are underperforming, of course.
This was explained during the earnings call and one of the “Business Update” meetings earlier today. Companies should always be evaluating if products and services still align with the strategy and client needs. Because it was said during two calls, it’s a reminder to us not to be surprised when it happens.