Fiserv Reports Record-Setting Transaction Volume on its Automotive Loan
Origination System in 2012
*More than 10.8 million loan applications processed and 3.7 million
contracts funded on auto industry’s leading end-to-end lending and leasing
*Robust, flexible solution offering accuracy, speed and consistency helps
dealers and OEMs gain competitive edge
BROOKFIELD, Wis. -- March 21, 2013
Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, announced today that 2012 was a record-setting year for
its Automotive Loan Origination System (LOS), with more than 10.8 million loan
applications and 3.7 million contracts processed through the company’s auto
lending platform. This marks a 31 and 33 percent year-over-year increase for
applications and contracts, respectively.
The growth reflects the return to health of the automotive industry that was
driven, in part, by renewed consumer demand following the past year’s uptick
in the economy. The industry has witnessed the emergence of both established
and new lenders vying to meet the needs of growing segments.
“We are seeing continued growth in the sector due to favorable interest rates
and pent-up consumer demand, which contributed significantly to the
record-setting volumes being supported by our Automotive Loan Origination
System,” said Kevin Collins, president, Lending Solutions, Fiserv.
Fiserv technology gives lenders access to robust workflow tools that help them
view their borrowers and their auto lending portfolios more holistically. This
enables them to make smarter decisions and fund the most appropriate type of
“Three key elements are currently driving best-practice use of auto finance
technology: third-party collaboration and integration of applications that
offer seamless services; eContracting and other digital initiatives that
eliminate paper and reduce costs; and business process outsourcing, which
delivers high-quality services as an extension of a lender’s business,”
Automotive Loan Origination System from Fiserv is a comprehensive end-to-end
solution for automotive originations, from electronic application capture
through efficient credit processing, funding verification, validation and
booking of new loans and leases. The system assures a fast and efficient
origination process, enforces compliance, mitigates risk and promotes
profitable growth by lowering processing costs.
*Fiserv Automotive Loan Origination System -
Fiserv, Inc. (NASDAQ: FISV) is a leading global technology provider serving
the financial services industry, driving innovation in payments, processing
services, risk and compliance, customer and channel management, and business
insights and optimization. For more information, visit www.fiserv.com.
Director, Public Relations
Public Relations Specialist
Press spacebar to pause and continue. Press esc to stop.