Fiserv supplies lending system to UK consumer finance firm Cattles
21 October 2004 | 529 views | 0
Fiserv Europe Limited announced that it will install its core ICBS banking system at the UK consumer finance company, Cattles plc. The institution is one of the largest providers of financial services products to the non-standard consumer credit market in the UK. The agreement comes on the heels of Fiserv's successes in the consumer finance market this year with HFC Europe and Credibom, Portugal.
"Fiserv put together a compelling package that offers the range of functionality required to support our growing consumer finance businesses. ICBS also offers a range of product options which will be important for future expansion. Our agreement with Fiserv is a major step towards the completion of Project Phoenix, the development of our next generation of IT systems," said Tony Curry, Cattles IT Director.
Cattles will implement Fiserv ICBS as the core lending system, integrating the software with its Siebel CRM solution for web, call centre, intermediary, branch and agent access through Fiserv's XML integration layer. Fiserv's new ICBS Data Warehouse solution will also be deployed, in conjunction with Siebel Analytics, to address the company's management information needs.
Implementation and conversion of Cattles' lending business is underway with implementation expected within 24 months. Also participating in the project is systems integrator Deloitte, as well as other third-party vendors. The total contract value was not disclosed, but both Fiserv and Cattles acknowledged that this significant transaction signaled the start of a long-term partnership.
"We are excited to provide a solution that updates Cattles' technology infrastructure, affords them product diversity and assists in delivering a superior service experience," said John Bower, Managing Director, Fiserv Europe.
Fiserv has a long and successful history in the consumer finance business worldwide and views consumer finance as one of its primary growth areas.