Fiserv Extending Commercial Lending with AFSVision
Brookfield, WI: Fiserv, a financial technology provider, has announced its partnership with Automated Financial Systems (AFS). The partnership will bring in the commercial lending capabilities of AFS to Fiserv’s clients for core bank account processing. The integration of AFSVision, a commercial lending solution, with account processing platforms from Fiserv will enable clients to efficiently expand their lending services to support complex commercial lending demands.
“We’re committed to enabling growth for our clients, and, for some, that means expanding into commercial lending,” said Byron Vielehr, President, Depository Institution Services, Fiserv. “Commercial lending is an area that can quickly become complex, and requires sophisticated and specialized technology. The expertise of AFS in this space is well-known. By integrating our account processing platforms with AFSVision we enable our clients to efficiently and cost-effectively access the robust lending capabilities they need to grow and succeed.”
Fiserv’s clients will be leveraging AFS’ capabilities including loan servicing and loan administration. These capabilities will enable the lending capabilities of AFS to be accessed by financial institutions without the necessity of installing a customized interface. The integration with AFS positions Fiserv to meet the needs of clients that want to expand their commercial lending business and support more complex portfolios. In addition to standard commercial loans, AFSVision is well-suited to support syndications and participations, enabling financial institutions to expand their lending options and manage risk across their portfolios.
Fiserv’s lending solution result in significant increase in transaction speed and volume, and makes it possible to book a loan, post a payment and sell to an investor all on the same day. It helps its clients deliver solutions that are in step with the way people live and work today.