Payment processing giant Fiserv saw revenue decline in its financial solutions and banking segments, according to a Tuesday earnings report and comments from the company’s CEO.
Fiserv executives attributed the slide to headwinds the company is facing in those two spaces, specifically to a loss of business from small financial institutions.
“We have lost some market share, especially on the smaller credit union side of our business,” Fiserv Chief Executive Mike Lyons said Tuesday in response to a question from an analyst on an earnings call.