Tag Archives: BROOKFIELD

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Fiserv Partners with ChannelNet to Create Enhanced Self-Service Channel for Lenders to Offer Borrowe

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Fiserv Partners with ChannelNet to Create Enhanced Self-Service Channel for Lenders to Offer Borrowers

  • LoanLink allows financial institutions using LoanServ from Fiserv to launch secure, customizable and cost-effective websites that meet customer expectations
  • Solution gives borrowers 24/7 access to loan transactions, and the ability to view and update loan information in real-time

BROOKFIELD, Wis.–(BUSINESS WIRE)– Fiserv, Inc. (NAS: FISV) , a leading global provider of financial services technology solutions, announced today that it has partnered with ChannelNet, a multichannel marketing solutions company, to create an enriched version of LoanLink™, a consumer-facing online channel that enables clients of LoanServ™ to quickly roll-out robust self-service websites for their borrowers. LoanServ from Fiserv is a real-time servicing solution that streamlines processes for all retail loans.

The LoanLink offering is built on ChannelNet’s patented and scalable SiteBuilder™ software, and provides lenders with the ability to rapidly launch customized websites. Each SiteBuilder website comes with powerful administration features, personalization capabilities and content management tools for the financial institution. For the consumer, LoanLink provides additional self-service features and intuitive account management tools, such as the ability to make payments online, receive loan payoff information, view transaction history and update personal and financial information related to their loans. This flexibility puts more control in the hands of the consumer, which can lead to higher levels of customer satisfaction and retention.

“Borrowers today are seeking the most convenient options for managing their loans. LoanLink brings loan data to the consumer and facilitates online activities – including escrow balances and loan modification options – reducing calls to a customer service department,” said Kevin Collins, president, Lending Solutions, Fiserv. “This ability leads to greater efficiency and cost savings for the financial institution and a superior customer experience for the borrower. In addition, our clients have a tremendous opportunity to grow electronic payment usage among their borrowers.”

This strategic partnership with ChannelNet enables Fiserv to enhance the LoanLink platform and speed the time to market for banks, credit unions and any other servicing operation using the solution. Consumers have access to multiple accounts through a single sign-on feature and expanded self-service tools for mortgage, installment and revolving credit accounts. LoanLink leverages a broad selection of web services and pulls data directly from the LoanServ platform.

Each institution using LoanLink can customize the website to meet specific branding and function or feature needs.

From: http://www.dailyfinance.com/2013/04/11/fiserv-partners-with-channelnet-to-create-enhanced/

Business, Finance, Occupation & Industry

Fiserv to Offer PayChoice Payroll Platform via Online Commercial Cash Management Solutions

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By Business Wirevia The Motley Fool

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Fiserv to Offer PayChoice Payroll Platform via Online Commercial Cash Management Solutions

  • Agreement delivers the PayChoice payroll processing and tax administration service to financial institutions using cash management solutions from Fiserv
  • Single sign-on integration available to financial institutions utilizing Business Online from Fiserv
  • PayChoice service virtually eliminates the risk and expense of federal, state and local payroll tax penalties and late fees for small- to mid-sized businesses

BROOKFIELD, Wis.–(BUSINESS WIRE)– Fiserv, Inc. (NAS: FISV) , a leading global provider of financial services technology solutions, today announced the availability of the PayChoice payroll product to financial institutions utilizing online business banking solutions from Fiserv. One of the largest independent payroll organizations in the U.S., PayChoice provides industry-leading payroll services to small- and mid-sized businesses. The strategic agreement will offer businesses multiple levels of service in a single technology platform by combining PayChoice online payroll, tax, human resources (HR) and employee benefit administration solutions with the strength of online banking solutions from Fiserv.

“Working with PayChoice, Fiserv is able to offer clients payroll, tax administration and employee management solutions to help their financial institutions grow revenue and improve customer retention rates,” said Teri Carstensen, president, Bank Solutions, Fiserv. “Adding a payroll service to enhance our online cash management offering is one more way in which Fiserv is helping financial institutions – and their business clients – succeed in an increasingly competitive marketplace.”

PayChoice payroll and HR administration services are delivered via a Software as a Service (SaaS) model. Although available to all Fiserv clients as a standalone solution, PayChoice will soon offer single sign-on integration to financial institutions utilizing Business Online™ from Fiserv. Business Online is a real-time, self-service online solution that offers comprehensive, intuitive banking tools for business accounts.

“In the same way PayChoice provides comprehensive payroll and employee management solutions to small- and mid-sized businesses, Fiserv provides comprehensive technology solutions that are cost-effective, secure and can be tailored to meet a financial institution’s specific needs,” said Robert Digby, CEO, PayChoice. “Together, we can help business owners using Fiserv business banking solutions to increase efficiencies and reduce operating expenses.”

About PayChoice

For more than 20 years, PayChoice has helped small- and medium-sized businesses (SMB) succeed by

From: http://www.dailyfinance.com/2013/04/11/fiserv-to-offer-paychoice-payroll-platform-via-onl/

Business, Finance, Occupation & Industry

Heritage Financial Corporation Selects DNA Account Processing Platform from Fiserv to Accelerate Gro

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Heritage Financial Corporation Selects DNA Account Processing Platform from Fiserv to Accelerate Growth

  • Commercial bank chooses the collaborative DNA platform from Open Solutions, now part of Fiserv, to consolidate systems and accommodate rapid growth
  • Integrated solutions for CRM, business intelligence, item processing, teller capture, interactive voice response and document management will complement DNA platform
  • Open architecture of DNA combined with its strong commercial capabilities were key factors in the bank’s decision

BROOKFIELD, Wis.–(BUSINESS WIRE)– Fiserv, Inc. (NAS: FISV) , a leading global provider of financial services technology solutions, today announced that Heritage Financial Corporation, based in Olympia, Wash., has selected the DNA™ account processing platform from Open Solutions, now part of Fiserv, to better serve the customers of Heritage Bank and Central Valley Bank. The $1.3 billion asset holding company cited the platform’s state-of-the-art technology, flexible architecture and strong commercial capabilities as key factors in the decision.

“DNA will help us achieve quick wins with operational efficiencies, a single loan system and a 360-degree view of our customer relationships. It’s a proven platform we can build on for the future,” said Lisa Welander, senior vice president and Chief Information Officer, Heritage Bank. “With four acquisitions in three years, we need technology that can help us standardize operations, achieve aggressive growth targets and create a competitive advantage with the customer experience. We found our answer in Fiserv.”

Recognized by industry leading analysts for its best-in-class technology, user experience and breadth of functionality, DNA is the first open, relationship-centered core banking platform built for global collaboration. The platform employs a real-time, relational data model designed around the person, not the transaction, so that Heritage Bank staff can securely view complete profiles of their retail and commercial customers by person, product or account. The bank also gains a single loan system for consolidated commercial, mortgage and consumer servicing with the ability to implement master line processing.

With the platform’s open .NET architecture, Heritage Bank can easily enhance DNA with solutions from Fiserv and other third-party partners. The bank will also have access to the DNAcreator™ development toolkit, which allows bank IT professionals to create and sell custom core extensions called DNAapps™ to other financial institutions via the DNAappstore™. DNAappstore is the first online marketplace for core innovation and global collaboration, creating the potential for additional revenue for the

From: http://www.dailyfinance.com/2013/04/11/heritage-financial-corporation-selects-dna-account/

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Fiserv Launches New Consulting Initiative Designed to Help Banks Improve Profitability and Efficienc

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Fiserv Launches New Consulting Initiative Designed to Help Banks Improve Profitability and Efficiency of Commercial and Small Business Lending

  • Business Lending Strategy designed for regional and community banks
  • Fiserv consultants conduct an in-depth review followed by strategic and operational recommendations

BROOKFIELD, Wis.–(BUSINESS WIRE)– Fiserv, Inc. (NAS: FISV) , a leading global provider of financial services technology solutions, today announced a new offering designed to help regional and community banks improve the efficiency and profitability of their commercial and small business lending products and processes.

The Business Lending Strategy from Fiserv begins with Fiserv consultants conducting an in-depth review of a bank’s commercial lending business. Based on this strategic and operational review, Fiserv then provides recommendations for new or improved credit products and processes, improved pricing for business growth, process automation opportunities and enhanced credit policies and underwriting parameters for improved efficiency, credit performance and control.

The review and recommendations from Fiserv utilize the company’s expertise in commercial and small business lending to advance important institutional objectives, including improvements in commercial and small business market share, enhanced profitability and greater efficiency in lending processes.

In addition to the expertise of the Fiserv consultants, the Business Lending Strategy program draws on the expertise of several Fiserv business units including:

  • Bank Intelligence Solutions from Fiserv combines financial analysis, market analysis and expert advice into a suite of automated decision tools to help identify the right strategies for financial institutions.
  • Lending Solutions from Fiserv offers real-time solutions that automate and consolidate the workflows and processes associated with underwriting, processing and servicing loans of all types including mortgages, home equity loans and lines of credit; installment, auto or small business loans; or captive financing
  • Account Processing from Fiserv helps banks create a reliable platform to reduce risk and drive efficiency using all channels of banking activity.

“For regional and community banks, the small business segment is a unique class of commercial customers which is critical for achieving growth in market share, revenue and profitability. Today, these banks are facing increasing competition from larger financial institutions, and in order to compete and grow, they must be able to efficiently deliver small business

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Fiserv Launches Solution to Help Government Agencies Reduce Improper Payments

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Fiserv Launches Solution to Help Government Agencies Reduce Improper Payments

  • Solution detects and prevents payment inaccuracy and minimizes fraud in U.S. federal government agencies
  • Solution uses financial services industry best practices, predictive fraud analytics and lean Six Sigma methodology

BROOKFIELD, Wis.–(BUSINESS WIRE)– Fiserv, Inc. (NAS: FISV) , a leading global provider of financial services technology solutions, announced today that it has launched a payment accuracy and fraud solution to reduce improper payments for U.S. federal government agencies. The professional services engagement will allow government agencies to reduce the overall loss of cash associated with improper disbursement and recovery of funds, thereby enabling that money to instead be used for citizens and tax-payers.

Improper payments can include payments to the wrong person, for the wrong amount, or to citizens who are no longer eligible for benefits. In 2012, improper payments made by the federal government to citizens were estimated to total $108 billion. An estimated one-third or more of improper payments are due to fraud, while two-thirds are the result of errors or incorrect information. Using a rigorous process and data analysis, the Fiserv solution finds and eliminates process variation, waste and opportunities for error that may result in payment inaccuracy.

Fiserv practitioners pinpoint root causes and areas in the payment cycle where improper payments can be detected, mitigated and prevented. This diagnostic professional services engagement includes discovery sessions, interviews, hands-on process observation, mapping, data collection and analysis with the goal of delivering an actionable roadmap that enables the identification, mitigation or elimination of the majority of improper payments.

Fiserv then works closely with the agencies to optimize the processes and identify the need for change. Fiserv creates detailed specifications for any technology solutions needed to address points of failure that may result in improper payments. Finally, Fiserv creates and operates the new process or technology platform, or helps the agency manage the new environment using internal resources.

“At a time when resources are scarce at every level of government, public officials can no longer look at improper payments as a cost of doing business. Fiserv is a leader in payments processing, technology and professional services and our solutions are used by leading financial institutions to ensure payment accuracy, prevent fraud and speed service delivery,” said Ray Kalustyan, senior vice president and managing director, Government Services, Fiserv. “By applying our payment accuracy …read more

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Common Origination Platform and LoanServ from Fiserv Integrated for Improved Efficiency and Seamless

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Common Origination Platform and LoanServ from Fiserv Integrated for Improved Efficiency and Seamless Data-Sharing

  • Integration will provide full circle loan boarding process for all mortgage, line of credit and installment loans
  • Benefits include fewer errors and real-time integration between originated and closed loans in Common Origination Platform and LoanServ systems

BROOKFIELD, Wis.–(BUSINESS WIRE)– Fiserv, Inc. (NAS: FISV) , a leading global provider of financial services technology solutions, announced today that its Common Origination Platform™ and LoanServ™ solutions have been integrated to provide real-time, full-circle loan boarding processes for all mortgage, lines of credit and installment loans. The integration improves efficiency for all users by sharing data points and eliminating potential errors caused by manual data entry.

With an increasing number of financial institutions supporting both production and servicing operations, the integration of the Fiserv solutions provides a consolidated view of each customer as well as a single view of risk for their loan portfolios. The integration eliminates duplication within processes and the business management of the systems.

“Fiserv has clients that use LoanServ to service mortgages, unsecured personal loans and home equity products, and others are using Common Origination Platform to also originate and close the same types of loans,” said Kevin Collins, president, Lending Solutions, Fiserv. “As a result of our integration strategy, organizations that deploy both Common Origination Platform and LoanServ will experience the benefits of improved efficiency and enhanced technology that meets all industry standards.”

Regulatory requirements impact the need for greater standardization during the origination process and how data is presented to borrowers. On the servicing side, monthly statements also are becoming more standardized. The seamless integration of Common Origination Platform and LoanServ will eliminate duplication within processes and the business management of the systems, as well as reduce the number of touch points that may obscure an organization’s total relationship with its lending customers.

LoanServ processes all loan types, including default management and collections, and investor accounting for both closed-end and revolving loans. With the LoanServ solution, data transactions are available online, in real-time so lenders don’t have to contend with the limitations associated with an end-of-day batch processing cycle.

Common Origination Platform is an enterprise lending solution designed to originate consumer, business, mortgage and real estate-backed loans. Additionally, lenders can establish their own business standards including operating procedures, conditions and limits …read more

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Swipe to See Your Account Balance with Groundbreaking Bank of the West Mobile Apps, Built on Mobilit

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Swipe to See Your Account Balance with Groundbreaking Bank of the West Mobile Apps, Built on Mobiliti from Fiserv

  • Quick Balance feature is part of the all-new Bank of the West mobile apps for iPhone and Android, built on Mobiliti from Fiserv
  • First of its kind capability enables customers to access their account balances with just the slide of a finger
  • Apps also support in-demand functions such as bill payment and check deposit

BROOKFIELD, Wis.–(BUSINESS WIRE)– Fiserv, Inc. (NAS: FISV) , a leading global provider of financial services technology solutions, today announced that Bank of the West, a $63 billion asset bank with locations in 19 Western and Midwestern states, has launched new apps for iPhone®, Android® and iPad®, each of which is built on the Mobiliti™ mobile banking and payments platform from Fiserv. Among the highlights of the iPhone and Android apps is the Quick Balance feature, which enables enrolled users to access their balances with the slide of a finger, without logging into their accounts. The feature is the first of its kind for a North American bank.

According to the 2012 Fiserv Consumer Trends Survey, 25 million U.S. households are using mobile banking. Viewing account balances is the number one activity among users, with 66 percent saying they viewed their account balance on their mobile device within the last 30 days.

“We couldn’t be more pleased with customer feedback to our new mobile platform,” said John Finley, senior vice president, Digital Channels, Online & Mobile Banking, Bank of the West. “Since the launch of the apps and the Quick Balance feature, we’ve doubled the number of Bank of the West registered mobile banking users and had a three-fold increase in log-ins per day.”

In addition to standard mobile banking functionalities, such as account information access and an ATM and branch locater, each of the apps from Bank of the West features secure transactional capabilities such as bill payment, funds transfer between Bank of the West accounts and the ability to deposit a check remotely by taking a picture with a smartphone or tablet. The bank is using best practices such as videos and well-trained branch staff to educate customers on the new mobile app capabilities.

“Bank of the West has put its customers first with the design of new mobile banking …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Fiserv Reports Record-Setting Transaction Volume on its Automotive Loan Origination System in 2012

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Fiserv Reports Record-Setting Transaction Volume on its Automotive Loan Origination System in 2012

  • More than 10.8 million loan applications processed and 3.7 million contracts funded on auto industry’s leading end-to-end lending and leasing solution
  • Robust, flexible solution offering accuracy, speed and consistency helps dealers and OEMs gain competitive edge

BROOKFIELD, Wis.–(BUSINESS WIRE)– Fiserv, Inc. (NAS: FISV) , a leading global provider of financial services technology solutions, announced today that 2012 was a record-setting year for its Automotive Loan Origination System (LOS), with more than 10.8 million loan applications and 3.7 million contracts processed through the company’s auto lending platform. This marks a 31 and 33 percent year-over-year increase for applications and contracts, respectively.

The growth reflects the return to health of the automotive industry that was driven, in part, by renewed consumer demand following the past year’s uptick in the economy. The industry has witnessed the emergence of both established and new lenders vying to meet the needs of growing segments.

“We are seeing continued growth in the sector due to favorable interest rates and pent-up consumer demand, which contributed significantly to the record-setting volumes being supported by our Automotive Loan Origination System,” said Kevin Collins, president, Lending Solutions, Fiserv.

Fiserv technology gives lenders access to robust workflow tools that help them view their borrowers and their auto lending portfolios more holistically. This enables them to make smarter decisions and fund the most appropriate type of loans.

“Three key elements are currently driving best-practice use of auto finance technology: third-party collaboration and integration of applications that offer seamless services; eContracting and other digital initiatives that eliminate paper and reduce costs; and business process outsourcing, which delivers high-quality services as an extension of a lender’s business,” Collins added.

Automotive Loan Origination System from Fiserv is a comprehensive end-to-end solution for automotive originations, from electronic application capture through efficient credit processing, funding verification, validation and booking of new loans and leases. The system assures a fast and efficient origination process, enforces compliance, mitigates risk and promotes profitable growth by lowering processing costs.

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