Fiserv Inc., a provider of financial services technology solutions, has announced the renaming of its Loan Servicing Platform to LoanServ. As a single-platform, real-time solution, LoanServ combines mortgage loans, consumer loans, indirect financing, home equity loans and lines-of-credit and distressed-loan functionality into one core system so that all of a borrower's retail loan relationships can be supported on one platform, creating efficiencies and convenience for financial institutions.
Most recently known as the Loan Servicing Platform from Fiserv, LoanServ grew out of the company's MortgageServ solution which at the time was the first web-enabled, real-time solution for all aspects of mortgage servicing and management. As the financing needs of borrowers evolved over the past decade, Fiserv invested in a development strategy to add support for not only home equity loans and lines of credit but for other retail loan products as well. As a result, LoanServ is the only servicing system that has integrated support for all of these financing instruments.
"The name change is a significant statement about our vision," said Thomas Gorman, president, Loan Servicing Solutions, Fiserv. "One of our greatest challenges is ensuring that product innovation is not only a 'good idea' but is also a fundamental contribution to business process improvement. LoanServ is a powerful solution that ultimately offers a diverse range of financial institutions greater control over their operations and more flexibility to support products, policies, regulatory changes and customer relationships."
Designed to support any size or type of institution, LoanServ can be deployed at a range of financial organizations, from entrepreneurial loan servicing operations to the largest financial institutions. By reducing disparate technology systems and redundant interfaces, and integrating online, real-time transaction processing and workflow automation into a single software system, LoanServ allows banks, credit unions, specialty lenders and investors to add loans to their portfolios while reducing costs, increasing productivity and creating opportunity.
For more information, visit www.fiserv.com.