Fiserv is going to start providing strategic consultant help fro regional and community banks looking to improve their lending business for commercial and small business clients, the financial services technology vendor announced yesterday. The new consulting service, called Business Lending Strategy, will help smaller banks review their current commercial and small business lending operations and implement new strategies and processes to increase market share for clients, a statement released yesterday by Brookfield, Wisc.-based Fiserv said.
The new consultant service will utilize Fiserv’s Bank Intelligence Solutions that provides automated decision tools based on financial and market analysis. The service will also draw on the company’s lending solutions that provide automated workflows and processes for underwriting, processing and servicing loans, as well as the company’s account processing platform, according to the Fiserv statement. With these tools the service will aim to improve the credit products and pricing for client banks’ commercial loans business, as well as automate processes and boost efficiency.
Fiserv also announced some other news that follows from its acquisition of Open Solutions last January. The company announced that Heritage Financial Corporation, the Olympia, Wash.-based holding company of Heritage Bank and Central Valley Bank, will move to the DNA core platform, previously developed by Open Solutions. Heritage Financial Corporation (with $1.3 billion in assets) is the first bank to announce its transition to the DNA platform since Fiserv acquired Open Solutions. Heritage already uses Fiserv’s ACCEL/Exchange payments network and Prologue financial management suite, and will make use of several Open Solutions products and services including the DNAcreator and DNAappstore, as well as the DNA platform’s CRM and business intelligence suite.