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Fiserv Automotive Lending Solutions Now Integrated with Best-in-class Desktop Reporting Tool from Conquest Systems
New tool to help provide lenders with a better understanding of operations and revenue
Fiserv, Inc. (NASDAQ: FISV), a leading provider of information technology services to the financial and insurance industries, announced the integration of its automotive lending solutions with Conquest Systems’ WebCEO™ desktop reporting tool. This integration allows automotive lenders to generate dashboards and other graphical reports for a better understanding of critical business drivers, statistics and operations. In a difficult lending environment, this tool can help lenders reduce costs and find new sources of revenue.
Using data from the Fiserv loan origination and servicing systems, WebCEO performance measurement and reporting software will allow automotive lending executives to generate graphical management reports such as average product yield, loan production turnaround times and default risk, which can help them manage their businesses more profitably. WebCEO also enables nimble, comprehensive and customizable desktop reporting that leverages and presents data from Fiserv loan origination and servicing systems and other databases. This gives clients the ability to access a centralized and normalized data repository, thus eliminating historical reporting limitations once caused by multiple platforms, data sources and databases.
“WebCEO was designed to fit the environment of Fiserv Automotive Solutions clients by using their existing databases, servers, platforms and transformation load tools to reduce costs,” said Joe Willis, president for financial markets at Conquest Systems. “Optimizing existing technologies can help mitigate the auto lender’s risk and simplify the decision to select WebCEO as a standard enterprise reporting tool.”
Lending executives using WebCEO with Fiserv lending systems data can configure their own reports to create unique views of their enterprises. The customized templates and reports may then be stored for future access to ensure consistent reporting over time. As business needs change, the report templates can be easily modified to accommodate additional lending data components, business process alterations and changes in reporting preferences.
“Fiserv is committed to providing products and services, such as the integration of this best-in-class reporting tool, that help our clients manage overall costs and find new sources of revenue,” said Kevin Collins, president of Fiserv Automotive Solutions. “We believe that in a difficult environment, now is the time for financial institutions to invest carefully in ways that will make them more efficient and responsive to customer needs when the current downturn starts to improve.”
Fiserv Automotive Loan Originations System (LOS) includes credit and funding components that fully automate the process, from capturing credit applications and decisioning credit requests, through booking contracts on an account servicing system. The Fiserv Automotive Loan Servicing systems are tailored to the indirect automotive finance industry for lease or loan portfolios.
The WebCEO pricing model makes implementation of the solution cost-effective for Fiserv Automotive Solutions clients ranging from de novos to large enterprise lenders. The tool is easy to deploy, requiring only a data extract from the loan origination or servicing system for Fiserv hosted services clients.
About Fiserv, Inc.
Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, provides information management and electronic commerce systems and services to the financial and insurance industries. Leading services include transaction processing, outsourcing, electronic bill payment and presentment, investment management solutions, business process outsourcing (BPO), software and systems solutions. Headquartered in Brookfield, Wis., the company is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2004, 2005 and 2006 FinTech 100 surveys. In 2007, the company completed the acquisition of CheckFree, a leading provider of electronic commerce services. Fiserv reported nearly $4 billion in total revenue from continuing operations for 2007. For more information, please visit www.fiserv.com.
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