EnerBank USA, which specializes in unsecured financing for home improvement and home energy loans through strategic business partners, will migrate its entire loan portfolio to the Fiserv Loan Servicing Platform, the tech provider reports.
The implementation of the Fiserv Loan Servicing Platform will move EnerBank from paper check funding to an automatic funding process so that the bank can achieve full automation through the loan servicing system and assure payment to contractors in a more timely and convenient manner, Fiserv says. On the platform, loan proceeds are remitted to contractors electronically via ACH, streamlining the payment process.
"We needed a flexible servicing platform to support our unique business model," says Louise Kelly, president and CEO of EnerBank USA. "Unlike the customer base of most loan servicers, EnerBank customers are manufacturers, distributors and retailers of home improvement products and services â�¦ With the Fiserv Loan Servicing Platform, we will have all the functionality we need in one place, plus scalability and flexibility to support our continued growth and enhancements to our business model based on the needs of our customers."