Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that Cornhusker Bank, a community bank based in Lincoln, Neb., has selected Common Origination Platform(TM). Cornhusker Bank, a Fiserv client since 2003, selected Common Origination Platform from Fiserv as a result of its search for an origination system that could help the bank initiate and board loans more efficiently.
"When we began our search we knew we needed a system that could integrate seamlessly with our core processing platform and help us reduce the time it took to originate and board new loans. From the very first demo of Common Origination Platform it was clear we had found our answer," said Crystal Wichita, Vice President of Information Technology, Cornhusker Bank. "Not only does Common Origination Platform integrate with our account processing platform, Premier(R) from Fiserv, it also gives us the ability to maintain a single origination system for all of our lending verticals."
Common Origination Platform from Fiserv is a single-platform solution that gives a lender a view of its borrowers across all lending channels and products, with data in one place regardless of the point of origination or loan type. Consolidating the origination and boarding of consumer, equity, commercial and mortgage loans creates efficiencies for an organization by streamlining data and enabling employees to learn only one system.
"As a bank that prides itself on being a neighbor to those in the Lincoln community, our priority is centered on improving the customer experience," said Wichita. "Three days into training we could already see the positive impact this solution was going to have on our institution. Our first test loan cut our origination and boarding process time in half."
"Lending is vital to community development because it helps people buy homes, start businesses and invest in their futures. Fiserv strives to simplify the loan origination process so that our clients can fund and close more loans," said Kevin Collins, president, Lending Solutions, Fiserv. "Cornhusker Bank has been a Lincoln-area staple for more than 100 years. Common Origination Platform from Fiserv can help to enhance the important role the bank plays in its community by facilitating more efficient lending processes."
Common Origination Platform is an enterprise lending solution designed to originate consumer, business and real estate-backed loans. With data about lending customers all in one place, regardless of the point of origination or loan type, financial institutions can reduce risk, gain processing efficiencies and use information more effectively across the enterprise. Additionally, lenders can establish their own business standards including operating procedures, conditions and limits to automate virtually every origination transaction. Common Origination Platform also offers workflow and integration with third-party services.