Fiserv and SwiftView integrated products move lenders toward paperless workflow
26 October 2004 | 623 views | 0
Lenders are making significant progress toward a totally paperless workflow thanks to integrated loan-origination and electronic document delivery solutions from Fiserv Lending Solutions and SwiftView, Inc.
Lenders such as TierOne Bank are saving time and money -- and improving their bottom lines - by using the easyLENDER® loan-origination system's easySENDER(TM) e-mail option for non-secure document distribution and SwiftView's SwiftSend LoanDocs® for ultra-secure, Web-based document delivery. TierOne Bank reports that its consumer-lending department alone saves an average of $1,000 and 180 hours per month thanks to the Fiserv-SwiftView integration.
"TierOne Bank aspires to a totally paperless workflow and our use of the integrated easyLENDER-SwiftSend solution is moving us ever-closer to that goal," said Larry Pfeil, TierOne Bank executive vice president and director of administration. "The service is easy to install, use and administer, and it's transparent to recipients. They don't care how documents are delivered, only that they're delivered on time. Using easySENDER and SwiftSend together enables us to do that in a way that creates happy, repeat customers."
TierOne Bank has been using easyLENDER's easySENDER to transmit loan documents as e-mail attachments since August 2003. The Bank began using the Web-based SwiftSend solution in April 2004. Specifically, the Bank uses easySENDER to e-mail non-confidential documents to internal closing agents through its Intranet. SwiftSend is used to deliver confidential loan documents to external closing agents such as title companies and attorneys, as well as to correspondent lenders. TierOne Bank also uses SwiftSend to instantly and securely transmit a variety of sensitive documents to professional and executive bankers.
Dorris Miller, TierOne Bank consumer lending operations manager, said the easyLENDER-SwiftSend integration makes it easier for employees to maintain a high level of accuracy in their work. "Our team loves using the SwiftSend service because it's easy to use regardless of their level of computer proficiency. Their margin of error is reduced and employees become more confident and productive as a result."
Fiserv incorporated SwiftSend functionality into its easyLENDER Mortgage loan-origination system last year. The integration enables easyLENDER software users to electronically manage and distribute loan document packages via the Internet from within the easyLENDER Mortgage system. SwiftSend is the only secure, electronic document delivery service that has been integrated into easyLENDER.
"Innovative lenders like TierOne Bank are increasingly demanding the ability to securely deliver electronic loan documents," noted Dan Welbaum, SVP of Sales for Fiserv Lending Solutions' easyLENDER Products division. "Integrating SwiftSend functionality into our easyLENDER LOS solution gives our clients a seamlessly integrated, cost-effective, easy-to-implement, Web-based document delivery system that is highly secure and very user-friendly."
"TierOne Bank is one of the many lenders that are realizing clear and measurable benefits as a result of our partnership with Fiserv," said Steve Bachelder, president of SwiftView. "Quality industry partnerships strengthen our ability to deliver innovative technology solutions that improve the bottom line for our joint customers. We greatly value our alliance with Fiserv and are proud to see the positive impact it's having on the industry."