National Rural Utilities Cooperative Finance Corporation Selects FIS for Commercial Loan Enhancement
October 28 2020 - 8:00AM
Business Wire
Key facts
- National Rural Utilities Cooperative Finance Corporation (CFC)
selected FIS Commercial Lending Suite to consolidate loan
origination and back office servicing.
- FIS Commercial Lending solution will consolidate CFC’s legacy
lending systems into one fully integrated front to back
solution.
Financial technology leader FIS® (NYSE:FIS) today announced that
it has been selected by the National Rural Utilities Cooperative
Finance Corporation (CFC) to help the organization consolidate its
loan origination and management platform to better serve its
members in the utilities industry.
CFC is a nonprofit, member-owned organization that provides
financing to electric cooperatives that serve more than half of the
land mass of the United States. CFC was looking to integrate and
enhance its loan origination and management systems and selected
the FIS Commercial Lending Suite.
CFC will consolidate its lending platforms onto the FIS
leading-edge Commercial Loan Origination and Commercial Loan
Servicing (ACBS) solution for an end-to-end transformation of their
lending platform.
“CFC looks forward to working with FIS to help better serve our
members,” said Graceann Clendenen, Senior Vice President and Chief
Administrative Officer at CFC.
“Our Commercial Lending solution is a modern
front-to-back-office solution that was designed to help our clients
in growing their business through efficient technology platforms
taking advantage of digitalization for customer interaction,” said
Nasser Khodri, Head of Sell-side, Capital Markets at FIS. “Because
the commercial loan origination process can be quite
labor-intensive, our Commercial Loan Origination and ACBS deliver
twenty-first century capabilities to organizations like CFC,
streamlining their processes and speed of doing business.”
About FIS
FIS is a leading provider of technology solutions for merchants,
banks and capital markets firms globally. Our employees are
dedicated to advancing the way the world pays, banks and invests by
applying our scale, deep expertise and data-driven insights. We
help our clients use technology in innovative ways to solve
business-critical challenges and deliver superior experiences for
their customers. Headquartered in Jacksonville, Florida, FIS is a
Fortune 500® company and is a member of Standard & Poor’s 500®
Index. To learn more, visit www.fisglobal.com. Follow FIS on
Facebook, LinkedIn and Twitter (@FISGlobal).
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version on businesswire.com: https://www.businesswire.com/news/home/20201028005063/en/
Kim Snider, +1 904.438.6278 Senior Vice President FIS Global
Marketing and Communications kim.snider@fisglobal.com
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