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Intuitive Digital Engagement Transforms Mortgage Experience for Borrowers and Loan Officers
Rhea-AI Impact
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Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Fiserv (NASDAQ: FISV) has launched the Digital Mortgage Center, revolutionizing mortgage lending by enabling lenders to expedite the loan process from application to appraisal in minutes. This platform, which integrates with BeSmartee, offers a streamlined user experience, allowing borrowers and lenders to manage their interactions on any device. The system boasts over 165 integrations aimed at enhancing efficiency through features like automated underwriting and real-time analytics.
Vice President Richard Novak emphasizes that this innovation addresses rising origination costs and improved borrower expectations.
Positive
Launch of Digital Mortgage Center enhances customer experience and operational efficiency.
Integration with BeSmartee provides advanced mortgage point-of-sale tools.
Over 165 integrations streamline the mortgage process, improving speed and transparency.
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None.
Digital Mortgage Center from Fiserv empowers lenders to move consumers from loan application to appraisal in minutes
BROOKFIELD, Wis.--(BUSINESS WIRE)--
Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, is transforming the mortgage lending process with an intuitive digital platform, allowing anytime, anywhere engagement. Dynamic technology combined with a responsive design enables a highly-personalized borrower and loan officer experience.
Digital Mortgage Center from Fiserv enables digital application access from a desktop, laptop or mobile device. Building on the existing capabilities of Mortgage Director™, the core of the Fiserv lending ecosystem, and in collaboration with BeSmartee, a digital mortgage point-of-sale (POS) provider, the technology allows lenders to manage pipelines wherever they are.
“Changing expectations among borrowers and rising origination costs have sent lenders in search of a better way to conduct business,” said Richard Novak, Vice President, Head of Real Estate Lending Technology at Fiserv. “The digital mortgage provides a streamlined approach to lending and delivers a better borrower experience at lower costs.”
Digital collaboration ensures secure, omnichannel communication between borrower and lender, with the borrower loan dashboard allowing borrowers to complete the mortgage process from within one system. The mortgage loan originator command center provides loan officers digital access to manage pipelines and take an application in person or over the phone from anywhere, while the customer relationship management system is fully integrated with the mortgage point-of-sale platform.
Digital Mortgage Center has more than 165 integrations to help streamline the mortgage process and increase efficiency through fee aggregation, a product pricing engine, automated underwriting system, data validation and appraisal. Digital Mortgage Center collaboration tools give borrowers full communication access and visibility to make faster decisions and close loans quickly, efficiently and in a streamlined manner via secured communication. Referral partners, such as realtors and builders, have the ability to track the status of the loan from any device. Analytics allow borrowers to see real-time reports from start to submitted application.
“Being part of the Fiserv mortgage lending ecosystem is an important milestone for our company, and will offer significant advantages to our joint users,” said Tim Nguyen, CEO and Co-founder of BeSmartee. “With the powerful mortgage point-of-sale tools that BeSmartee brings to market, this integration will make loans easier, faster and more transparent so consumers can have all the right information at their fingertips and lenders can deliver on their promises to the borrower.”
For more than 25 years, Fiserv has provided industry-leading origination systems designed to increase consistency and reduce technology costs throughout each phase of the mortgage, home equity, consumer and business loan origination process. With capabilities that support the mortgage process from pre-application to closing and beyond, including point-of-sale and secondary marketing, digital document and task tracking, automated underwriting, processing, electronic document transmission and automated uploading to loan servicing systems, Fiserv solutions enable origination of multiple types of loans — across verticals and channels — with speed and efficiency.
In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud- based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index, the FORTUNE® 500, and has been recognized as one of FORTUNE World's Most Admired Companies® for 11 of the past 14 years and named among the World’s Most Innovative Companies by Fast Company for two consecutive years. Visit fiserv.com and follow on social media for more information and the latest company news.
About BeSmartee
Leading Fintech firm BeSmartee® disrupts the financial services industry with its award-winning, web-based digital mortgage platforms for banks, credit unions and non-bank lending institutions. BeSmartee delivers a complete digital mortgage experience that goes deeper into the origination process to help lenders convert higher and close faster — making a once-cumbersome experience easy, fast and transparent for all.
Media Relations:
Mark D. Jelfs Manager, External Communications Fiserv, Inc. 262-737-8244
Mark.Jelfs@Fiserv.com
Additional Contact:
Ann S. Cave Vice President, External Communications Fiserv, Inc. 678-325-9435
ann.cave@Fiserv.com
Source: Fiserv, Inc.
FAQ
What is the Digital Mortgage Center from Fiserv?
The Digital Mortgage Center is a platform launched by Fiserv that streamlines the mortgage lending process, enabling lenders to move consumers from loan application to appraisal quickly.
How does Fiserv's Digital Mortgage Center enhance efficiency?
It offers more than 165 integrations and features like automated underwriting and data validation to streamline the mortgage process.
What collaboration is involved in the Digital Mortgage Center?
Fiserv collaborated with BeSmartee to provide advanced digital mortgage point-of-sale tools for lenders.
Why was the Digital Mortgage Center created by Fiserv?
It was created to improve borrower experiences and address rising origination costs in the mortgage lending industry.
When was the Digital Mortgage Center announced?
The Digital Mortgage Center was announced in a press release dated May 17, 2022.
