New Technology from Fiserv Addresses Online Account Opening and Loan Application Challenges
September 06 2018 - 8:30AM
Business Wire
Family of solutions streamlines consumer
experience with intelligent features, including ID scanning,
autofill and facial recognition
Fiserv, Inc. (NASDAQ: FISV), a leading global provider of
financial services technology solutions, is helping banks and
credit unions deliver enhanced digital account opening and loan
origination with OriginateSM, a new suite of solutions built to
provide the functionality and ease of use that on-the-move
consumers are demanding.
The first solution in the suite, Originate Deposits from Fiserv,
features a simple, step-by-step user interface with optional ID
scanning, autofill, and facial recognition to allow consumers to
easily and securely open an account or initiate a loan application
from a mobile device, tablet, computer, or at a branch.
Fiserv conducted extensive consumer research and user experience
testing as a part of the product development process to identify
pain points and shortcomings in current digital account opening and
loan origination experiences. Originate Deposits alleviates
multiple layers of friction to create an intuitive, step-by-step
user experience that is fast, easy to use and uniform across
channels – and results in higher user satisfaction and reduced
abandonment. Numerous institutions are already selecting the
solution for online account opening.
“When we saw Originate Deposits at the annual Forum client
conference, we knew it could address a challenge we wanted to solve
for our members,” said Paul Simons, CEO of Rantoul, Illinois-based
Credit Union 1. “While we maintain a high volume of account
openings, only a small percentage of our members were completing
the process online. It was just too complex. The interface and flow
in Originate Deposits are as intuitive as buying from a leading
online retailer, and we are confident the solution will positively
impact how our members start or expand their relationships with
us.”
Importantly, Originate Deposits supports multichannel strategies
for financial institutions by maintaining the same experience and
interface across channels, allowing users to complete an
application wherever they are, in one or in multiple sessions, on a
mobile device, tablet, computer – or in a branch.
“We’ve been looking at options for a better digital account
opening experience, regardless of where or how our customers choose
to complete the process,” said Sherri Wilson, senior vice
president, technology of Towson, Maryland-based Hamilton Bank.
“We’ve been able to work closely with Fiserv as we prepare to roll
out Originate Deposits. It will allow us to deliver a better
experience to our customers, who are increasingly mobile and have a
high standard for their interactions with us.”
Originate Deposits is launching now with account opening
functionality, including credit cards and personal loans, and is
integrated with other Fiserv digital solutions including the
Mobiliti™ mobile banking and payments platform. Additional
Originate solutions will add even more loan origination
capabilities at the end of 2018 including retail, auto and
mortgage.
“Financial institutions have one chance to make a good first
impression, and opening an account or applying for a loan are
central to that initial experience,” said Vincent Brennan,
president, Credit Union Solutions, Fiserv. “Originate creates an
intelligent banking experience that makes the process simpler and
puts the customer first – and that means more accounts can be
successfully opened from any device or location. That’s a big win
for any institution aiming to grow.”
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.
Additional Resources:
Originate from Fiserv: fisv.co/Originate
Originate Video: fisv.co/OriginateVideo
About Fiserv
Fiserv, Inc. (NASDAQ:FISV) enables clients worldwide to
create and deliver financial services experiences in step with the
way people live and work today. For more than 30
years, Fiserv has been a trusted leader in financial
services technology, helping clients achieve best-in-class results
by driving quality and innovation in payments, processing services,
risk and compliance, customer and channel management, and insights
and optimization. Fiserv is a member of the
FORTUNE® 500 and has been named among the FORTUNE
Magazine World's Most Admired Companies® for five
consecutive years, recognized for strength of business model and
innovation leadership. For more information,
visit fiserv.com.
FISV-G
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version on businesswire.com: https://www.businesswire.com/news/home/20180906005292/en/
Media Relations:Marcus HardyManager, Public
RelationsFiserv,
Inc.801-823-5534marcus.hardy@fiserv.comorAdditional
Contact:Ann CaveDirector, Public RelationsFiserv,
Inc.678-325-9435ann.cave@fiserv.com
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