Process all retail loans making use of one solution that ties together every one of a debtor’s loans
Combine loan servicing functions and make one debt service procedure with no restrictions imposed by legacy systems.
Today’s survival-of-the-fittest environment is pressing finance institutions to assess how to refine procedures throughout their businesses. Duplicating effort across multiple products and handling the trouble of supporting and integrating disparate platforms hurts the companies when it comes to profitability, functional effectiveness, and conformity and danger mitigation – ultimately jeopardizing debtor relationships.
The technology landscape in the financial services industry includes redundant, inefficient and incompatible systems that are increasingly costly to maintain in many cases. The efficiency improvements, prospective FTE reassignments and power to support a far more diverse loan profile caused by consolidating loans can considerably counterbalance the price of transforming to technology that is new.
The Fiserv loan servicing solution supports all retail loan items – mortgages, house equity loans and credit lines, unsecured loans and personal lines of credit, and installment loans – for a solitary platform. Many servicing solutions are loan-centric, this means the details about a debtor lives regarding the loan record it self. The Fiserv solution stores borrower information in one single central place. Harnessing the effectiveness of that consolidated information permits loan servicers to complete a more satisfactory job of handling danger, supplying customer care, and handling standard administration challenges. Continue reading