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Financial Services renames credit service platform LoanServ
Fiserv, Inc. with NASDAQ: FISV, the world's premier supplier of banking technologies, today announces the renaming of its Loan Servicing Platforms to LoanServ(TM). LoanServ is a cross-platform, real-time approach that integrates mortgages, personal lending, collateral finance, home loan, line of credit, syndicated loan, and syndicated loan functions into a central system to support all of a borrower's individual retailing loan exposures on a common foundation, providing efficiency and comfort for banks.
LoanServ, most recently known as Fiserv's Loan Servicing Platform, emerged from the company's beloved MortgageServ software, which was the first web-enabled real-time application for all facets of mortgages service and administration. In the course of the trend in borrowers' funding needs over the past ten years, Fiserv has been investing in a redevelopment plan to promote not only home ownership lending and line of credit but also other types of consumer lending.
LoanServ is thus the only serving system today that has incorporated the full set of funding tools. "Changing the name is an important part of our vision," said Thomas Gorman, Chairman, Loan Service Solutions, Fiserv. The LoanServ is a high-performance application that provides a variety of banks with greater business agility, greater product, policy, regulation and client relationship management control."
LoanServ links the mortgages and all other consumer credits to the borrower's file. Consolidating a perspective on all lending relations is critical to mitigate risks by taking into account the overall creditworthiness of the client. "LoanServ will give banks the scope and profundity to meet the needs of their consumers and their homes as the complexity of funding solutions evolves, supported by Fiserv employees who are passionately committed to adding value to our customers' businesses," said Gorman.
LoanServ is developed to serve every kind and scale of institutional need and can be used by a wide variety of finance companies, from corporate lending businesses to the biggest finance companies. LoanServ enables banking houses, cooperative societies, specialist financiers and institutional buyers to reduce portfolio borrowing while lowering cost, improving efficiency and generating opportunities by eliminating multiple technological platforms and multiple interface redundancies and incorporating on-line, real-time transactions management and work flow management into a unified system.