Fiserv Renames Loan Servicing Platform To LoanServ

Fiserv, Inc. (NASDAQ:FISV), the leading global provider of financial services technology solutions, today announced the rename 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 popular 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 today 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.”

For financial institutions, the mortgage is often the anchor relationship with a customer, and LoanServ ties the mortgage and all other retail loans to the borrower record. This flexibility facilitates real-time integration into the banking environment and provides account information across all customer service channels. Having a consolidated view of all loan relationships is crucial for mitigating risk because it considers the customer’s complete credit capacity.