The processor has started engaging with potential buyers for the sale of some of its assets, the CEO said. It has also doubled its savings goal to $1 billion.

Fiserv is now targeting $1 billion in savings, up from $500 million, as its new CEO seeks to transform the business into one generating more revenue and profits.

In reporting its third-quarter earnings results Tuesday, CEO Takis Georgakopoulos said that a previously announced review of the company’s operations and technology had allowed it to identify cost-cutting opportunities and areas where it could work with artificial intelligence partners.

To date, the company has already eliminated 3,000 contractors and employees under the plan, including by shaving its management layers, he said. He didn’t distinguish between contractors and workers.

“We've analyzed every non-core asset that we have,” Georgakopoulos said in answering an analyst’s question on the webcast. “We looked for assets that have either economic challenges or technology challenges or overlaps with other things that we do, or are not consistent with our long-term vision.”

The company has talked with major banks about the sale of one of its debit networks, according to earlier reports, including by the Wall Street Journal.

Given those non-core assets are eating up capital and resources, the company has taken the approach that it needs to “rationalize,” or cut back in those areas for the benefit of the company’s long-term prospects, he explained.

2 billion, according to a Tuesday earnings press release .

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