Life-of-Loan Support for Diverse Portfolios
What Are Fiserv’s Services & Solutions?
LoanServ™. A solution that consolidates support for all retail loan products on a single platform. LoanServ integrates all loan servicing processes and automates payment processing, collections, default management, cashiering, escrow, and investor accounting. The system’s built-in default management tools offer multiple-channel borrower engagement, automated workflow support and reporting functionality to efficiently manage your collections, loss mitigation, foreclosure, bankruptcy and REO needs.
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.
Nautilus®: Document Imaging. A solution that allows lenders and servicers to convert paper documents into electronic images and instantly access the documents to view, annotate, print, e-mail and fax — all from the convenience of your desktop.
How is Fiserv Truly Unique?
LoanServ capabilities streamline loan processes throughout the lending life cycle and allow servicers to gain complete control over all their investor relationships.
- Consolidate loan servicing functions and create one debt service operation without the limitations imposed by legacy systems.
- Manage investor activities without having to wait for overnight data updates. The tools in LoanServ give servicers and their investors the power to access data about portfolio position any time they want and immediately see the impact of every borrower transaction.
- Default management from early intervention to REO/asset disposition and everything in between. LoanServ from Fiserv has tools so you can track and analyze loans that need modification and that meet evolving federal guidelines.
- Available online, in real-time so you don’t have to contend with the limitations associated with end-of-day, batch processing.
LoanComplete 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.
Nautilus: Document Imaging has powerful document imaging capabilities that increase productivity and enhance your lending practices. Point-and-click configuration enables customization to your business environment without programming.
How Does Fiserv Add Value?
In many cases, the technology landscape in the loan servicing industry includes redundant, inefficient and incompatible systems that are increasingly costly to maintain. Duplicating effort across multiple products and managing the expense of supporting and/or integrating disparate platforms hurts the organization in terms of profitability, operational efficiency, and compliance and risk mitigation.
Although the servicing system you have today might work, the productivity improvement, potential FTE redeployments and ability to support a more diverse loan portfolio resulting from consolidating loans on LoanServ from Fiserv can dramatically offset the cost of converting to new technology. With today’s fierce competition, deploying a more efficient servicing software strategy can mean the difference between growing the portfolio and just surviving. Fiserv has seen financial institutions reduce up to 60 percent of their loan servicing-related software by replacing disparate technology with LoanServ.
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