Designed as a single-platform solution, the Common Origination Platform offers lenders a holistic view of their borrowers across all lending channels and products, combining data in one place regardless of the point of origination or loan type.
FNBLI, the independent commercial bank, selected an ASP delivery model for Common Origination Platform.
The lender, which has already been using Fiserv’s Signature account-processing platform, said that the common origination platform will enable it to originate all types of loans, while increasing efficiencies and minimizing time required for employee training.
FNBLI executive vice president Rich Kick said that by implementing Common Origination Platform from Fiserv, the bank is giving its staff the best tools available to provide its customers with the levels of service they have come to expect.
Fiserv lending solutions division president Kevin Collins commented, "Fiserv will help First National Bank of Long Island to drive down operational costs, reduce redundant processes and comply with increasing regulatory demands."
Using the common origination platform, lenders can establish their own business standards including operating procedures, conditions and limits to automate virtually every origination transaction.
