Fiserv, Inc. (NASDAQ: FISV), a leading provider of information technology services to the financial industry, today announced that its GATORS® Settlement Services/Vendor Management division has signed several new customers who will leverage its complete web-enabled land title and settlement information service.
Westlake Village, Calif.-based Timios, Inc., a nationwide provider of title insurance and settlement services to national and regional lenders nationwide, now uses Fiserv’s GATORS full end-to-end settlement services and vendor management system in a licensed model. Using GATORS, Timios can easily handle the ordering of closings and title commitments, as well as support integrations that may be required to support customers and vendors. “Timios is built on a foundation of customer service, technology and management experience, so naturally we looked for a system that supported that foundation,” said Trevor Stoffer, president and chief executive officer of Timios. “Fiserv’s GATORS solution is designed to handle it all, supporting our paperless environment and workflow management allowing us to integrate directly with any customer or vendor.”
Golf Savings Bank, located in Mountlake Terrace, Washington and part of the Sterling Financial Corporation, has implemented the GATORS solution as a service automated vendor management capability. The company, which handles 400-500 real estate appraisals per month, chose the GATORS solution for its strong analytic tools to measure and rate vendor performance and track response times and other metrics. The solution automatically assigns orders to preferred vendors based on a weighted average of multiple criteria and automatically alerts appraisers to updates and tasks.
Capstone Title Services, Inc. offers outsourced title services to large national settlement companies for real estate transactions in the state of Arkansas. Capstone Title now uses the GATORS software solution as a service system to track title production including title searches, reports and insurance. Capstone Title tracks incoming orders and auto-assigns the search to complete an insurable title commitment. “Using Fiserv’s GATORS application, we are able to automate the entire title production process,” said Erica Hughes, president, Capstone Title.
“Fiserv’s GATORS application is designed to be a complete vendor management system that virtually eliminates the need to maintain separate and costly proprietary system interfaces between disparate trading partners,” said Patty Jones, senior vice president, Fiserv Fulfillment Services Division. “In fact, GATORS is such a complete system that Fiserv Fulfillment Services Division uses it to manage its own vendors.”
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