Fiserv (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that MCNB Trust & Co., a community bank headquartered in Welch, W.V., has selected Common Origination Platform to meet its consumer, mortgage and commercial lending needs.
Common Origination Platform from Fiserv is a single-platform solution that gives lenders a holistic view of borrowers across all lending channels and products, aggregating data in one place, regardless of the point of origination or loan type.
MCNB, a Fiserv client since 1994, utilizes the Premier(R) bank platform from Fiserv for its account processing needs. When the bank decided to replace its existing loan origination system with a new solution that could seamlessly integrate with its account processing platform, Common Origination Platform from Fiserv offered several advantages. The Fiserv solution will enable MCNB to gain processing efficiencies and use customer information more effectively across the enterprise.
"Over the last few years, community banking's role in the lending arena has shifted, with both businesses and consumers increasingly looking to local financial institutions to meet their needs," said John Reed, Vice President and Chief Operations Officer, MCNB. "We are confident that expanding our long-standing relationship with Fiserv through the selection of their Common Origination Platform will help us better serve our customers while generating greater efficiencies and lowering risk for the bank."
"Using Common Origination Platform in conjunction with the Premier bank platform from Fiserv will enable MCNB to gain a broader perspective of borrower risk, reduce the number of manual processes and save time," said Kevin Collins, president, Lending Solutions, Fiserv. "Additionally, employees will only need to learn and operate a single origination system to support multiple lending products."
Common Origination Platform is an enterprise lending solution designed to originate consumer, business, mortgage and real estate-backed loans. With data about lending customers all in one place, financial institutions can reduce risk, gain processing efficiencies and use information more effectively across the enterprise. Additionally, lenders can establish their own business standards including operating procedures, conditions and limits to automate virtually every origination transaction, an important feature for a community bank where employees often have a wide array of responsibilities.