Exclusive-Activist Jana pushes Fiserv to accelerate cost cuts and tap Palantir

Activist investor Jana Partners is urging Fiserv to accelerate its planned cost cuts and implement Palantir's software solutions to expedite its technology transformation, according to a letter obtained by Reuters. The New York-based hedge fund has been a major shareholder in Fiserv since late 2025, seeking to improve the company's financial performance.

Two months ago, Jana pushed Fiserv management and the board to initiate a comprehensive review of the entire company rather than focusing on piecemeal asset sales. Fiserv has experienced a significant decline in market value, losing more than half of its worth over the past year, with its stock hitting a low point in September 2025.

Chief Executive Takis Georgakopoulos, who joined the company in June 2025, announced a review process and potential further divestitures. Jana's demands for more substantial and quicker cost reductions come after reports in July suggesting Fiserv was considering selling its debit card transaction processing business. The investment firm aims for the $500 million in cost savings targeted by 2029 to be doubled to $1.25 billion, and wants Fiserv to disclose the more ambitious targets when it reports its third-quarter earnings.

Jana believes that partnering with Palantir could help Fiserv streamline its technology, eliminate technology debt, and rationalize spending on legacy vendors. The letter also highlights Jana's previous successes in advocating for company-wide changes, such as persuading Fiserv competitor Fidelity National Information Services to separate its Worldpay payments business in 2024.