Chevy Chase selects Fidelity's ACBS for loans business

Source: Fidelity National Information Services

Fidelity National Information Services, Inc., (FIS) and Chevy Chase Bank announced today that Chevy Chase Bank has selected FIS' Advanced Commercial Banking Systems (ACBS(R)) to support its growing commercial loan business.

Chevy Chase Bank will deploy ACBS origination and servicing solutions in its back-office operations, via FIS' Application Service Provider (ASP) solution, to efficiently originate and service commercial loans. FIS' ACBS Lending Solutions is an integrated family of commercial lending products that automates the entire range of commercial lending activity, from deal origination through settlement, accounting, and risk and loan management.

"As our portfolio grows in complexity and volume, we needed a product and a company that could grow with us and support our business efficiently," said Kevin Cashen, senior vice president of Commercial Lending for Chevy Chase Bank. "The enhanced ability to manage our deals from origination through servicing will improve our customers' experiences while allowing us to control our costs."

"We are extremely pleased that Chevy Chase Bank has selected FIS' ACBS solutions for its back-office operation," said Richard Levy, President of FIS' ACBS division. "With Chevy Chase Bank's growth in commercial lending and complex credits, FIS' ACBS application suite, proven experience and leadership provide invaluable support for Chevy Chase Bank's continued growth in its commercial lending business. Additionally, with more than 30 years of experience in providing reliable application information technology services, FIS' ASP will enable Chevy Chase Bank to focus on its commercial lending business."

Chevy Chase Bank also utilizes FIS' Mortgage Servicing Package (MSP) to service its mortgage portfolio.

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