Fiserv and AFS Help Financial Institutions with Commercial Lending Capabilities

Fiserv and AFS Help Financial Institutions with Commercial Lending Capabilities
29.04.2016 08:30 am

Fiserv and AFS Help Financial Institutions with Commercial Lending Capabilities

Banking , Alternative Finance

 Fiserv  announced a partnership that will bring the industry-leading commercial lending capabilities of Automated Financial Systems, Inc. (AFS) to Fiserv bank core account processing clients. The integration of AFSVision® with account processing platforms from Fiserv will enable clients to efficiently expand their lending services to support complex commercial lending demands.

According to analysis by SNL Financial and AFS, between 2014 and 2015, the total dollar value of commercial real estate loans increased 10 percent and the total dollar value of commercial and industrial loans increased seven percent. The figures were significantly higher among financial institutions that have between $1 billion and $50 billion in assets, with the total dollar value of commercial real estate loans increasing 31 percent and the total dollar value of commercial and industrial loans increasing 30 percent.

“We’re committed to enabling growth for our clients, and, for some, that means expanding into commercial lending,” said Byron Vielehr, president, Depository Institution Services, Fiserv. “Commercial lending is an area that can quickly become complex, and requires sophisticated and specialized technology. The expertise of AFS in this space is well-known. By integrating our account processing platforms with AFSVision we enable our clients to efficiently and cost-effectively access the robust lending capabilities they need to grow and succeed.”

The AFS capabilities being offered to Fiserv clients include loan servicing and loan administration, which will be hosted and managed by AFS. These capabilities will be offered by Fiserv via the company’s Enterprise Services Framework. This will enable the robust lending capabilities of AFS to be accessed by financial institutions without the installation of a customized interface, allowing them to benefit from simplified and less expensive implementation, operation and maintenance processes.

The integration with AFS positions Fiserv to meet the needs of clients that want to expand their commercial lending business and support more complex portfolios. In addition to standard commercial loans, AFSVision is well-suited to support syndications and participations, enabling financial institutions to expand their lending options and manage risk across their portfolios.

AFSVision is the industry’s only enterprise-wide approach to lending that provides a straight-through, real-time credit lifecycle solution to support and aggregate multiple lines of business and lending structures through all stages of work, from origination to booking to servicing to reporting, all on one platform. Easy-to-use web-based screens enable bank personnel to interact via digital devices, complementing today’s more mobile, fast-paced work styles.

“In order for a financial institution to grow and maintain a successful commercial lending program, they must have the right technology in place and be able to operate their program efficiently,” said John Shain, president, AFS. “The integration of AFSVision with Fiserv core account processing solutions brings the latest commercial lending capabilities to our mutual clients.”   

Related News

Temenos Wins Google Cloud Technology Partner of the Year Award for Financial Services

 Temenos (SIX: TEMN), the banking software company, today announced it has been recognized by Google Cloud as its Technology Partner of the Year in Financial Services. This... Read more »

Wolters Kluwer Innovates with New Banking Tech Launch to Facilitate Paycheck Protection Program

Wolters Kluwer Compliance Solutions has launched a dedicated banking technology solution, utilizing its market-... Read more »

More than 90% of UK consumers claim technology offering impacts their choice of bank, fintech finds

 Research conducted by new entrant to the UK fintech market, Modularbank, in partnership with market research specialists, OnePoll, has found that over 90% of... Read more »

Pannovate partners up with Salt Edge to deliver instant PSD2 compliance

Pannovate, UK’s leading payment and digital banking technology company, has partnered up with Salt Edge, leader in offering open banking and secure customer... Read more »

National initiative launched by Fintech Tully aims to help 17 million people in the UK who have been financially impacted by COVID-19

Tully, Nottingham-based Fintech, has today announced the launch of their COVID-19 Relief and Wellbeing Network to help people financially impacted by the COVID crisis get... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel