"Rewarding loyal customers by providing affordable credit alternatives can significantly differentiate an institution from among an otherwise homogenous set of deposit products in the marketplace," said Jeff Burton, Vice President, Financial Institutions Group, Fiserv. "With deposit-based lending, banks can go beyond a credit score to provide convenient credit solutions to help customers bridge their cash flow needs at a cost far lower than traditional alternatives."

Relationship Advance from Fiserv is a lending platform that can service a variety of deposit-based lending programs for either consumers or small businesses. The solution includes nightly account monitoring and remediation, quick and convenient account setup and usage, and flexible repayment alternatives to balance safety and soundness concerns with the need to provide the consumer with the best experience. These, and other features, can help the financial institution tailor the product to meet
unique customer needs.

"The cost of providing the right level of functionality and integration to make these more highly personalized lending programs viable can put the product economics under water pretty quickly," said Carl Lazzell, consulting director Financial Institutions Group, Fiserv. "Having an out-of-the-box solution enables financial institutions to avoid a lot of this up-front cost. Moreover, by implementing as a hosted solution, Fiserv manages all aspects of the process, including compliance with key Federal regulations, within our core so that our financial institution clients can focus on their customers."