Trump Nominates Fiserv CEO Frank Bisignano to Lead Social Security Administration

The financial services executive is tasked with addressing the SSA's technological and fiscal challenges as the agency faces mounting pressures.

Frank Bisignano, CEO of Fiserv and a veteran of financial services, has been nominated by President-elect Donald Trump to lead the Social Security Administration (SSA).
The SSA faces significant challenges, including outdated IT systems, a growing backlog of disability claims, and looming trust fund insolvency projected by 2035.
Bisignano's experience in modernizing large organizations, including implementing AI-driven cost-saving measures, may inform his approach to transforming the SSA's operations.
Trump's campaign promises to eliminate federal income taxes on Social Security benefits have raised concerns about the program's long-term solvency.
Fiserv has announced a succession plan for its leadership pending Senate confirmation of Bisignano, though its stock dropped over 5% following the announcement.