Life-of-Loan Support for Diverse Portfolios
What Are Fiserv’s Services & Solutions?
Common Origination Platform. An enterprise lending solution that simplifies the loan origination process for mortgage, consumer and business loans. Common Origination Platform from Fiserv provides access anytime, anywhere and a richer user experience. Using a single lending software platform, you have access to a single customer view across business channels. With data about your borrowers in one place, regardless of the point of origination or loan type, you can reduce risk, gain processing efficiencies and use information more effectively across the enterprise.
LoanComplete. A new solution from Fiserv that efficiently manages life-of-loan processes; captures and retains content; compares and routes data; and tracks documents. This minimizes loan processing time, improves portfolio value and reduces lender exposure. LoanComplete complements your existing loan origination, loan servicing, and regulatory compliance solutions by providing standardized workflow processing, enterprise content management and data analytics.
How is Fiserv Truly Unique?
Due to the increased complexity of the lending environment, loan originators must perform many processes that are not currently supported by core lending systems.
Fiserv developed Common Origination Platform to provide the perfect combination of intelligent and intuitive processing automation and sophisticated technology architecture. The result is a loan origination solution focused on delivering ease-of-use and flexibility in three key areas:
- Loan origination. Users can manage, deploy and use workflows, screens, and data collection policies, processes and procedures without generating code.
- Business rules management. An enterprise-level Business Rules Management System (BRMS) lets managers establish security and processes according to the needs of your business.
- Service connectivity. The system enables rapid integration to services, core processing systems and other key technologies, and reduces the time and cost of maintaining multiple partner interfaces.
For more features, watch this short overview demo. [URL link is http://youtu.be/MZU7PjpHZY8]
LoanComplete Fiserv ensures compliance and automates time-consuming processes through enhancements to your existing loan origination, loan servicing and regulatory compliance systems. No matter what type of loans you process, LoanComplete captures, manages, processes and shares content throughout the life of each loan to eliminate ad hoc processing, improve quality and ensure compliance with current policies and regulations.
How Does Fiserv Add Value?
Common Origination Platform allows lenders to establish their own business standards, including operating procedures, conditions and limits to automate virtually every transaction, so that all associates are doing things according to institution parameters. Unlike other single platforms that may require modules to achieve an enterprise lending solution, Common Origination Platform capabilities exist within the system.
LoanComplete combines human-, document- and process-centric workflows, enterprise content management and current best practices to provide a turnkey solution. Standardized workflow processes integrate with your existing solutions to enhance and optimize your business.
What’s Next for Fiserv that Lenders Should Know?
The Fiserv value proposition is to lower a financial institution’s costs and increase their capabilities through the efficient delivery of complex technology and processing services that could not be affordably developed on their own. As a result, Fiserv continues to focus on developing and delivering solutions that help financial institutions to increase their efficiency and build more loyalty within their customer base.
We also believe that developing close partnerships with clients nurtures a high level of respect and trust and provides continuity, regardless of the products or services. And clients agree. They regard us as experts in managing portfolios of any size and value the ability to use Fiserv systems and resources to handle peaks and valleys in their portfolios.
There has been a significant increase in focus across Fiserv business lines on uncovering opportunities to improve the customer experience. Immediate awareness and analysis of borrower information, including application, closing and payment transactions, is becoming a daily activity for lenders. To manage to the current landscape, Fiserv is doing three things:
- Improving controls for compliance and regulatory requirements
- Creating a holistic view of the customer
- Reducing redundant processes and services