As lenders seek ways to make their processes more secure and cost-effective in order to survive the current market turmoil, Fiserv Inc. today announced the expansion of its Common Origination Platform (COP) to include real estate lending support.
The Fiserv COP is a next-generation solution to help lenders manage every aspect of loan origination and production. The new technology allows lenders to administer all of their loans - real estate finance, consumer and commercial - holistically rather than in the traditional silos, which can reduce costs and improve efficiency.
The platform is available in multiple deployment models including licensed versions, and Software as a Service (SaaS). The real estate module is the first of three available under the newly architected solution, with consumer and commercial modules planned to be deployed in 2009.
"As lenders retool for future markets, they should explore how technology can assist them in leveraging common processes across all of their products," said Jon Burch, Fiserv product manager. "Having one solution for all lending verticals and channels can reduce costs and make lenders more nimble in an ever-changing market."
"As a Fortune 500 company, Fiserv has the financial power to invest in and build an end-to-end loan origination solution in even the most challenging markets," said Kevin Collins, president of Fiserv Loan Origination Products. "We are committed to our clients' evolving needs and are uniquely positioned to help them drive down costs, improve revenues and address regulatory challenges across the loan origination process."
Fiserv unveils new software to help banks
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