Fidelity reports John Deere loan processing contract
Fidelity National Information Services (NYSE: FIS) recently announced that John Deere Credit, a wholly-owned subsidiary of Deere & Company, has selected FIS' comprehensive, real-time core processing solution, FIS Profile, to process the company's U.S. installment loan portfolio.
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With Profile, a single, integrated relational database contains all customer, account, product and configuration information.
FIS Profile is currently used by many industry-leading financial institutions. John Deere Credit's selection of the Profile platform further illustrates the value non-bank market leaders see in the FIS core system offerings.
"We believe that FIS Profile will allow us to better serve our customers and look forward to working with FIS to deliver on that expectation," said Art Woodcock, vice president of retail lending for John Deere Credit. "John Deere Credit is converting from a mainframe platform to the comprehensive, real-time FIS Profile platform to support the company's future growth and continued focus on customer service."
Profile is a real-time, multicurrency, deposit-and-loan core banking system that supports hundreds of institutions spanning 16 countries, ranging from de novo startups to top-tier global banks. Companies using Profile as their core banking system experience industry-leading total cost of ownership benefits based on lower infrastructure costs, ongoing operating costs and increased productivity. Profile's proven scalability and high availability make it a premier alternative for organizations that are committed to implementing a 24x7x365, "always on" solution.
"We are pleased to support a company such as John Deere Credit, which is a market leader," said Frank Sanchez, president of FIS' enterprise banking and retail solutions division. "We look forward to working with John Deere Credit to ensure that it realizes the most value from our solutions."