Fiserv (FISV) risk factors: FY2025 10-K

1. We operate in a competitive business environment and may not be able to compete effectively.
2. If we fail to keep pace with technological change, including as a result of artificial intelligence, we could lose clients or have trouble attracting new clients.rewordedAI
3. We use artificial intelligence in our business, and challenges with properly managing its use could result in legal liability or reputational harm.newAI
4. The One Fiserv action plan may not generate the benefits that we anticipate.new
5. If we are unable to renew contracts on favorable terms or if contracts are terminated prematurely, we could lose clients and our results of operations and financial condition may be adversely affected.
6. Changes in card association and debit network fees or products could increase costs or otherwise limit our operations.
7. Our business depends, in part, on our merchant relationships and alliances, and if we are unable to maintain these relationships and alliances, our business may be adversely affected.
8. Consolidations in the banking and financial services industry could adversely affect our revenue by eliminating existing or potential clients and making us more dependent on fewer clients.
9. We make significant investments in emerging, innovative areas of financial services and technology that may not achieve expected returns.new
10. Our embedded finance business is an emerging product area that could expose us to liability.new

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1. Security incidents or other technological risks involving our systems and data, or those of our clients, partners or vendors, could expose us to liability or damage our reputation.
2. Operational failures and resulting interruptions in the availability of our products or services could harm our business and reputation.
3. Disruptions of operations of other participants in the global financial system could prevent us from delivering our products and services.
4. We rely on third parties to provide products and services and if we are unable to obtain such products or services in the future or if these third parties fail to perform these services adequately, our business may be materially and adversely affected.
5. We may experience software defects, development delays or installation difficulties, which would harm our business and reputation and expose us to potential liability.

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1. Our business may be adversely affected by geopolitical and other risks associated with operations outside of the U.S. and, as we continue to expand internationally, we may incur higher than anticipated costs and may become more susceptible to these risks.
2. Our business is impacted by U.S. and global market and economic conditions.
3. Potential tariffs or trade wars could increase the cost of our products, which could adversely impact the competitiveness of our products and our financial results.Tariffs

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1. We have claims and lawsuits against us and have received governmental inquiries that may result in adverse outcomes.new
2. If we or third parties with whom we partner or contract fail to comply with applicable laws and regulations, we could be subject to liability and our business could be harmed.
3. If we fail to comply with the applicable requirements of the payment card networks and Nacha, they could seek to fine us, suspend us or terminate our registrations, which could adversely affect our business.
4. A heightened regulatory environment in the financial services industry may have an adverse impact on our clients and our business.
5. Legislative or regulatory initiatives on cybersecurity and data privacy could adversely impact our business and financial results.Cybersecurity
6. Failure to comply with state and federal antitrust requirements could adversely affect our business.
7. We may be sued for infringing the intellectual property rights of others.
8. Misappropriation of our intellectual property and proprietary rights could impair our competitive position.
9. Changes in tax laws and regulations could adversely affect our results of operations and cash flows from operations.
10. Unfavorable resolution of tax contingencies could adversely affect our results of operations and cash flows from operations.

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1. The failure to attract and retain key personnel could have a material adverse effect on our business.
2. Losses due to chargebacks, refunds or returns could have a material adverse effect on our business, results of operations and financial condition.
3. Acquisitions subject us to risks, including assumption of unforeseen liabilities and difficulties in integrating operations.
4. We may be obligated to indemnify the purchasers of businesses pursuant to the terms of the relevant purchase and sale agreements.
5. Our balance sheet includes significant amounts of goodwill and intangible assets. The impairment of a significant portion of these assets could negatively affect our results of operations.reworded
6. Existing or future leverage may harm our financial condition and results of operations.
7. An increase in interest rates may negatively impact our operating results and financial condition.Interest rates
8. Our results of operations may be adversely affected by changes in foreign currency exchange rates.

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