MILWAUKEE — Two of the largest providers of technology to banks and credit unions are weighing additional asset sales as investor pressure, slowing growth and competition from fintech firms push Fiserv and FIS to rethink sprawling portfolios built through years of acquisitions. Fiserv is considering selling its debit-routing operations, and FIS is evaluating strategic alternatives for selected products in its Capital Markets business.
Jana Partners is pressing Fiserv to go beyond individual asset sales and conduct a comprehensive review of its entire portfolio. Jana Partners has held a stake in Fiserv since late 2025 and believes divestitures could unlock value and help restore investor confidence after the company’s shares lost more than half their value over the past year. Fiserv has explored selling its Star debit-routing network, though Jana argues a broader review could identify additional businesses worth more separately than within Fiserv.
FIS has confirmed it is examining strategic alternatives for selected Capital Markets products following weaker performance in that unit. CEO Stephanie Ferris disclosed the review, saying expected improvements in lending activity and backlog conversion failed to materialize.
Divestitures could reshape portfolios
FIS’s Aug. 4 earnings release states Q2 consolidated revenue was approximately $3.4 billion, up 29% on a GAAP basis. Banking Solutions revenue was $2.5 billion, up 44% on both a GAAP and adjusted basis. The company also lowered its full-year revenue and profit forecasts last week amid economic uncertainty.
The potential divestitures mark another turn in years of dealmaking by both companies as established banking-technology providers contend with faster-moving competitors in the fintech space. Analysts and investors have pushed for portfolio reviews and asset sales as a route to unlocking value and responding to slowing growth trends.
