Process all retail loans utilizing one solution that ties together most of a debtor’s loans

July 26, 2020 by  
Filed under loans payday

Process all retail loans utilizing one solution that ties together most of a debtor’s loans

Combine loan servicing functions and create one debt solution operation with no limitations imposed by legacy systems.

Today’s survival-of-the-fittest environment is pushing institutions that are financial assess how to refine processes in their companies. Duplicating effort across multiple services and products and handling the cost of supporting and integrating disparate platforms hurts the companies with regards to profitability, operational effectiveness, and compliance and risk 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, possible FTE reassignments and capability to support a far more diverse loan profile caused by consolidating loans can dramatically counterbalance the price of converting to technology that is new.

Our Solution

The Fiserv loan servicing solution supports all retail loan items – mortgages, house equity loans and credit lines, unsecured loans and credit lines, and installment loans – for a single platform. Many servicing solutions are loan-centric, this means the information regarding a borrower lives in the loan record it self. The Fiserv solution shops borrower information in one single central spot. Harnessing the effectiveness of that consolidated information enables loan servicers to complete a better work of handling danger, supplying customer care, and addressing default administration challenges. You’ll be better positioned to comprehend debtor credit ability, determine credit risk, effortlessly support loss mitigation initiatives, and satisfy compliance that is regulatory.

A consolidated method of servicing increases opportunities in new financing areas; provides more freedom for securitization; empowers one to assume control throughout the regulatory environment; and results much more responsive servicing associates who can better provide your borrowers. Read more