As Fiserv looks to mend customer relationships and rebuild its business, its management team is embarking on what CEO Mike Lyons called a “transformation agenda” using artificial intelligence to boost productivity.
The two-year effort, partnering with IBM for technical expertise, will initially target five business areas, including its signature Clover point of sale business, executives said last week in news that was overshadowed by Fiserv announcing a major financial and operational “reset” of its business.
The “Project Elevate” AI initiative carries a “simple” goal, Lyons said Oct. 29 on a call with equity analysts: “Become a higher quality, more productive business by embedding AI in everything we do, including providing a better experience to our clients.”
IBM and Fiserv – long-term technology partners – will leverage “the same playbook and the same team” IBM used when seeking AI-driven efficiencies, Lyons said.