BROOKFIELD, Wis., Mar 12, 2009 (BUSINESS WIRE) -- Fiserv, Inc. (NASDAQ: FISV), the world's leading provider of financial services technology solutions, today announced that BB&T Corporation (NYSE: BBT), has chosen the Secure Lending solution from Fiserv to electronically deliver initial disclosures and other pre-closing documents, with an electronic signature option, to borrowers.

Using the Fiserv solution will enable Winston-Salem, N.C.-based BB&T, the nation's 11th largest financial holding company with $152 billion in assets, to easily manage workflow with compliance best practices by tracking and retaining all versions of RESPA 3 day disclosures and other pre-closing documents sent to borrowers. In addition, BB&T will be able to further enhance customer service with a competitive advantage in potential turn-around times by delivering the documents immediately to their clients and allowing them to instantly execute the documents using electronic signatures.

"Implementing Secure Lending is part of our overall paper-free lending strategy," said Matt White, Senior Vice President and mortgage technology manager, BB&T. "In addition to lessening our environmental impact by replacing paper-based methods with electronic procedures, we expect to see cost savings and increased customer satisfaction from borrowers using this quick and convenient process. By working with the automated workflows that we already have in place in our loan origination system, Secure Lending will allow us to respond to our customers faster and easier."

The Secure Lending solution electronically streamlines and manages the sharing of upfront loan disclosures with borrowers. BB&T seamlessly sends the documents from their loan origination system to the customizable secure eLending website, where borrowers view, electronically sign, print or download them. BB&T will soon have the ability to receive the electronically signed documents, and any unsigned versions, directly back into their loan origination system, where they are then transferred into BB&T's internal document repository. The electronically signed originals can also be stored in the Fiserv platform eVault. Additionally, with the Secure Lending platform's new expanded reporting, BB&T is able to see full details and status of documents that have been electronically distributed through the platform, at a loan pipeline level.

The Secure Lending solution is integrated with Fiserv's complete suite of loan origination solutions that includes UniFi PRO, easyLENDER and common origination platform systems; and is also available integrated with a lender's own loan origination system through industry standards-based B2B specifications. The initial disclosures workflow is one of four workflows available in the eLending platform, which also includes workflow for electronically delivering and signing closing documents; workflow for managing electronically signed documents in a leading eVault, including the ability to deliver loans using MERS^(R) eDelivery and transfer them using the MERS(R) eRegistry; and workflow for electronically delivering and signing servicing papers such as default mitigation documents.

"In today's difficult lending market, many financial institutions are looking for cost effective ways to differentiate themselves," said Kevin Collins, president, Originations and Automotive Solutions, Fiserv. "eMortgage processes provide real value, including reduced costs and improved customer service throughout the lending process as well as making a positive impact on our environment. The movement to replace paper documents with electronic documents and ink signatures with electronic signatures is well underway in the mortgage industry, and will only continue to increase in the future."

About BB&T Corporation

With $152 billion in assets, BB&T Corporation is the nation's 11th largest financial holding company. Founded in 1872, it operates more than 1,500 financial centers in 11 states and Washington, D.C. More information about the company is available at BBT.com.

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) is the leading global provider of information management and electronic commerce systems for the financial services industry, driving innovation that transforms experiences for financial institutions and their customers. Ranked No. 1 on the FinTech 100 survey of top technology partners to the financial services industry, Fiserv celebrates its 25^th year in 2009. For more information, visit www.fiserv.com.

(FISV-G)

SOURCE: Fiserv, Inc.

Media Relations:
Julie Nixon
Public Relations Manager
Financial Institution Services Group
Fiserv, Inc.
678-375-3744
julie.nixon@fiserv.com
or
Fiserv Corporate Contact
Lori Stafford-Thomas
Assistant Vice President Corp. External Comm.
Fiserv, Inc.
262-879-5130
lori.stafford@fiserv.com

Copyright Business Wire 2009