Fiserv joins forces with AFS

Fiserv Inc says it has entered into a partnership that will bring the commercial lending capabilities of Automated Financial Systems (AFS) to Fiserv bank core account processing clients.

It says the integration of AFSVision with account processing platforms from Fiserv will enable its own clients to efficiently expand their lending services to support complex commercial lending demands.

The AFS capabilities being offered to Fiserv clients include loan servicing and loan administration, which will be hosted and managed by AFS. These capabilities will be offered by Fiserv via the company's Enterprise Services Framework. Fiserv says this will enable the robust lending capabilities of AFS to be accessed by financial institutions without the installation of a customised interface, allowing them to benefit from simplified and less expensive implementation, operation and maintenance processes.

Fiserv adds that AFSVision is the industry's only enterprise-wide approach to lending that provides a straight-through, real-time credit lifecycle solution to support and aggregate multiple lines of business and lending structures through all stages of work, from origination to booking to servicing to reporting, all on one platform. Easy-to-use web-based screens enable bank personnel to interact via digital devices, complementing today's more mobile, fast-paced work styles.

"In order for a financial institution to grow and maintain a successful commercial lending programme, they must have the right technology in place and be able to operate their program efficiently," said John Shain, President, AFS.