Solutions enhance the Fiserv suite of mortgage origination services
BROOKFIELD, Wis.--(BUSINESS WIRE)--
Inc. (NASDAQ:FISV), a leading global provider of financial services
technology solutions, announced today it has acquired the assets of
PCLender, LLC, a leader in next generation enterprise internet-based
mortgage software and mortgage lending technology solutions. This
acquisition will enhance the Fiserv suite of mortgage origination
services, which enable Fiserv clients to deliver the experience today's
consumers and mortgage lenders expect. Financial terms will not be
Mortgage lenders operate in an evolving marketplace in which they are
challenged to deliver a more efficient lending process in tandem with a
compelling borrower experience. Fiserv is working to simplify today's
lending experience for financial institutions and borrowers, delivering
powerful tools to originate, process, underwrite and deliver loans in a
secure, paperless environment.
"Rapidly evolving consumer expectations require a seamless approach to
banking experiences, including mortgage origination," said Jeffery
Yabuki, President and Chief Executive Officer, Fiserv. "PCLender
provides Fiserv with a full digital suite of mortgage origination
solutions for banks, credit unions and mortgage lenders. We welcome the
existing clients and talented team members to our company."
A complement to the existing Fiserv lending solution suite, these assets
provide a set of simple, easy-to-use internet-based mortgage solutions
for banks, credit unions and mortgage lenders. This fully managed,
end-to-end solution simplifies origination, document collection and
compliance reporting, streamlining consumer direct and retail mortgage
and HELOC loan origination. The technology offers a feature-rich user
experience and improved operational efficiency for mortgage lenders with
existing resources. Supporting lenders of all sizes, PCLender provides
solutions for lenders funding up to 5,000 loans per month.
"Joining Fiserv accelerates our ability to scale our solution, while
simplifying solutions for every phase of the loan process to benefit our
clients," said Lionel Urban, Chief Executive Officer, PCLender. "We look
forward to leveraging our combined expertise to deliver greater client
value and an enhanced experience for their customers."
Forward Looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including statements regarding the expected timing of the transaction.
Forward-looking statements are subject to assumptions, risks and
uncertainties that may cause actual results to differ materially from
those contemplated by such forward-looking statements. The factors that
may adversely impact the anticipated outcomes include, among others: the
benefits of the transaction may be different than currently anticipated;
and other factors identified in Fiserv filings with the SEC from time to
time, including those in its annual report on Form 10-K. You should
consider these factors carefully in evaluating forward-looking
statements, and are cautioned not to place undue reliance on such
statements. Fiserv assumes no obligation to update any forward-looking
statements, which speak only as of the date of this press release.
PCLender, LLC delivers simple, elegant, internet-based mortgage
solutions for community banks, credit unions and mortgage bankers. Owned
and operated by mortgage banking executives, PCLender collaborates
closely with lenders to meet their needs in the constantly changing
world of mortgage lending. For more information on PCLender, visit www.pclender.com.
Fiserv, Inc. (NASDAQ:FISV) enables clients worldwide to create and
deliver financial services experiences that are 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 four consecutive years,
ranking first in its category for innovation in 2016 and 2017. For more
information, visit fiserv.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170801005695/en/
Source: Fiserv, Inc.
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