BROOKFIELD, Wis.– Fiserv’s LoanServ platform earned a "best-in-class" distinction in three of four categories in the recent CEB TowerGroup analysts’ "Loan Servicing Systems TechnologyAnalysis" report. LoanServ was recognized in the areas of core servicing functions, shared systems and enterprise support.
The report cited LoanServ from Fiserv as one of the most comprehensive enterprise loan servicing systems available for small, medium, and large loan servicers. It further noted that Fiserv has invested to extend LoanServ over the last decade from a mortgage-only system into a comprehensive enterprise loan servicing system that can be used to manage consumer, auto and equity loans and lines. This helps servicers consolidate systems, lower costs, and improve customer service.
The CEB TowerGroup analysts’ technology analysis aims to provide a customer-driven, transparent and unbiased review designed to drive informed business decisions. Its product rankings highlight best-in-class attributes and show a comparative perspective of leading products. The report assessed nine loan servicing systems in the U.S.
In its analysis, CEB TowerGroup analysts cited LoanServ for providing self-service options for borrowers to access and update their information online in real-time, make payments, request payoffs, and print payment histories. The solution has also been enhanced to help borrowers avoid delinquency and default, and to help loan servicers meet regulatory requirements. Further, LoanServ allows customer service scripting guidance to be embedded in the loan servicing process, facilitating the remediation of customer problems and helping to improve customer satisfaction.