Fiserv (FI) Raymond James TMT and Consumer Conference summary

Key achievements and strategic focus

• Strong 2024 performance driven by product innovation, international expansion, and robust client base.

• Continued rollout of Clover and Cash Flow Central, with significant investments in software and AI capabilities.

• Successful integration of acquisitions like Finxact, enhancing embedded finance and global reach.

• Emphasis on building a culture of in-office collaboration and ongoing synergy realization post-merger.

• Focus on expanding partnerships, especially with financial institutions and companies like ADP.

Market trends and consumer insights

• U.S. consumer activity remains strong, with high foot traffic and robust holiday season spending.

• Holiday sales patterns have elongated, with spending now stretching from Halloween to December 24.

• Both brick-and-mortar and e-commerce channels are performing well, with positive year-over-year trends.

Growth drivers and product innovation

• Clover continues to grow near 30%, with targets of $4.5B revenue by 2026 and high penetration rates.

• New products like Cash Flow Central and payroll integration with ADP are expected to drive further growth.

• Plans to launch new restaurant capabilities and increase VAS penetration to 27% by 2026.

• Large team of software engineers and technologists supports ongoing innovation.