Fiserv Reports Record-Setting Transaction Volume on its Automotive Loan Origination System in 2012

BROOKFIELD, Wis. --(Business Wire)--

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 AutomotiveLoan 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 loans.

"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," Collins added.

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.

Additional Resources:

Fiserv Automotive Loan Origination System - http://www.autofinance.fiserv.com/automotive_loan_origination_system.aspx

About Fiserv

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.

FISV-G

[ Back To Business Process Outsourcing Homepage's Homepage ]

FREE Business Process Outsourcing eNewsletter: Click here to receive your targeted Business Process Outsourcing Community eNewsletter.

Subscribe Now ›

Knowledge Center

Case Study - Airline
This Fortune 500 Airline Client took its current form when it came out of Chapter 11 protection and merged with another airline in September 2005, and now ranks among the largest U.S. airlines today.

Industry Profile - Travel & Tourism
Due to the emergence of low-cost providers and other competitive pressures, today's travel and tourism companies face declining margins and waning customer loyalty. To survive and excel in this marketplace, airlines, tour operators and hotel chains must find ways to maintain the caliber of service their customers expect - while keeping operating costs under control.

Solution Profile - Online Solutions
For the most part, tech-savvy consumers appreciate the benefits of 24/7 Internet self-service. But sometimes they have a need or concern that requires the human touch.

View All ›

Featured Podcast

7 Steps to Creating a Powerful Teleprospecting Engine
When was the last time you performed an audit on your telesprospecting process? Putting actionable strategies in place will convert teleprospecting from a tactical afterthought to a strategic asset.

Come learn as SiriusDecisions discusses insights from their 2012 Teleprospecting Study.

Hosted by Jeff Farr, Vice President B2B Solutions, with our Special Guest Speaker, Jason Hekl, Research Director, SiriusDecisions.

Listen Now ›

Featured Solution

Social Media Solutions Overview
Your Consumers Are Talking. Are You Listening? People today are increasingly using the Web as a platform for sharing their buying experiences, both positive and negative.

Learn More ›

Press Releases

Alorica Wins Large Employer of the Year Award
Durant, OK (March 27, 2013) Alorica, (www.alorica.com), a leading provider of customer management outsourcing solutions, announced today they were the recipient of the Large Employer of the Year Award in Durant, OK. Currently, Alorica employs over 500 in the Durant community and is projected to hire more. The company was selected by the Durant Area Chamber of Commerce due to the positive economic impact they have had in the local area and because of the extraordinary efforts in the community through volunteer hours and charitable contributions.
Alorica strengthens presence in Cebu, creates jobs
Makati, Philippines (March 17, 2013) Alorica (www.alorica.com), a leading provider of customer management outsourcing solutions, expands its Philippine operations in Cebu City as part of the company's continued geographic expansion initiative to increase its presence in key growth markets and support in global growth strategy. With more than 40 US domestic, near shore, and offshore customer management centers, Alorica is actively strengthening its ability to provide high-value solutions to its clients in the fastest
growing business process outsourcing markets in the world.

View All ›

About Alorica

Alorica is a leading Business Process Outsourcing Provider of customer management solutions spanning the entire customer lifecycle. From customer acquisition and sales, customer care and support, supply chain and fulfillment, to social CRM and mobile, Alorica offers a seamless customer experience across all service channels. Alorica's award-winning Business Process Outsourcing services span both the Business-to-Consumer (B2C) and Business-to-Business (B2B) sectors across all industries for Fortune 1000 companies. Headquartered in Irvine, California with over 20,000 employees in over 40 domestic, near-shore, and offshore customer management centers, Alorica believes in creating opportunities for its clients, people, and in its communities. For more information, please visit www.alorica.com.

Featured Awards & Recognition

With a long history of providing outstanding results for our teleservices clients, Alorica has been honored with numerous awards and recognition. We are proud to share some of our most recent accolades with you.