Guy Chiarello, COO of Fiserv speaks at Akshardham Cultural Program
About Guy Chiarello
Guy Chiarello, Chief Administrative Officer at Fiserv, has spoken about the company's focus on digital innovation and the operational demands of payment processing. He stated that Fiserv processes 12,000 transactions per second and described the need to render gigabytes of information about a purchasing decision in under 100 milliseconds with high accuracy. Chiarello said that "digital is the new normal" and that small banks with the right digital solutions can compete with larger institutions. He also expressed a bullish view on artificial intelligence, stating that combined with machine learning and transaction data, it is "critically important to predict outcomes and create differentiated services." Chiarello has also commented on the company's history, noting that First Data was "losing a couple billion dollars a year" before a turnaround effort that included raising $3.5 billion in 40 days and taking the company public in 2015. He described the company as being on a track to "recovery and transforming itself." In a separate appearance, Chiarello visited the Akshardham temple in New Jersey, calling it "the eighth wonder of the world" and saying it was "one of the best afternoons of my life."