Fiserv Inc. has added new investor capabilities for its Loan Servicing Platform, enabling users of the platform to have real-time access to the cash position as it relates to their investor portfolios.
San Francisco-based Bank of the West, with $60 billion in assets, has already deployed the new investor capability, Fiserv says.
‘The online, real-time investor services from Fiserv allow us to see our portfolio positions at any time, without having to wait for overnight data updates," says Sharon Parrish, senior business systems analyst for Bank of the West. "As a result, we can maintain complete control over investor accounting and reporting and have been able to implement a more efficient and lower cost means to create, modify and add new business processes."
The Loan Servicing Platform investor rules offer user-defined decisioning and the ability to implement change across the servicing enterprise. Because the rules are stored centrally, all of the information required to invoke them is located entirely within the system, the company adds.
"Unlike a traditional rules engine, our process allows lenders to manage the rules based on specific business needs," says Norwood Sloan, assistant vice president of Fiserv's mortgage product line. "Fiserv has replaced the typical day-old data generated by legacy batch systems with investor accounting functionality that is much more flexible because the data is available in real-time."