Commercial Federal Bank Increases Lending Efficiency with Browser-Based Deployment of Fiserv UniFi PRO Mortgage Loan Origination System.Business Editors LAKE MARY Lake Mary may refer to:
Nation's Seventh-largest Publicly Held Thrift Uses Ultra-Thin-Client UniFi PRO Mortgage Deployment to Boost Loan Officer Productivity and Streamline Software Maintenance Commercial Federal Bank already has seen benefits from its recent installation of the new Fiserv UniFi(R) PRO Mortgage browser-based, ultra-thin-client version 5.1 loan origination The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. system. UniFi PRO Mortgage is a product of the Fiserv Lending Solutions unit of Fiserv, Inc. (Nasdaq:FISV FISV Fiserv, Inc (stock symbol) ). The browser-based installation replaces the bank's former remote-laptop version of the UniFi PRO Mortgage system, and extends its client/server-based implementation of UniFi PRO Mortgage 5.1 to loan officers operating throughout the bank's branch network. Loan officers at Commercial Federal, the nation's seventh largest thrift and a longtime Fiserv client, now can access UniFi PRO Mortgage software through the bank's corporate intranet, enabling them to enter loan applications more efficiently and receive faster responses when handling third-party service-provider transactions. And, with real-time access to UniFi PRO Mortgage, loan officers no longer need to download rate sheets or upload loan records - saving time, reducing errors and helping to improve the bank's customer service. UniFi PRO Mortgage's ultra-thin-client deployment capability provides lenders with real-time system access to branches and remote lending staff through either the Internet or a corporate intranet. Dial-up connection charges are minimized and system maintenance is simplified because software updates and rates are centrally managed and instantly distributed to all users. Ultra-thin-client deployment also takes advantage of UniFi PRO Mortgage's sophisticated system security, which enables lenders to control personal system access down to the screen level. "Ultra-thin-client deployment has enabled us to improve our system response time; and our loan officers - wherever they are located - can manage loan applications in real time," said Jacqi Hrabik, Assistant Vice President and Senior Systems Application Manager at Commercial Federal Bank. "We are already seeing significant advantages over our previous laptop structure, from a greater ease of access to improved system performance throughout our branches." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Hrabik, Commercial Federal's loan officers experienced a smooth transition from UniFi PRO version 3.1 to the browser-based UniFi PRO version 5.1. "The conversion was a big effort but it went well," she said. "We are seeing positive results, both from a technology and business-process perspective." The bank's lending staff gained improvements in system performance when connected to their branch's local area network (LAN (Local Area Network) A communications network that serves users within a confined geographical area. The "clients" are the user's workstations typically running Windows, although Mac and Linux clients are also used. ), including faster logins; faster and easier entry of loan-application data; and a more streamlined process for obtaining automated underwriting responses and credit bureau reports, Hrabik said. From non-branch locations, loan officers can now enter loans directly into the UniFi PRO Mortgage database and get status updates using a dial-up connection, Hrabik said. Previously, Commercial Federal's laptop users entered application data off-line and then uploaded loan records to UniFi PRO Mortgage. Commercial Federal also has eliminated the need to manually install software updates at the laptop level. By centralizing software maintenance, all loan officers have immediate access to the most up-to-date software functionality simply by logging in A colloquial term for the process of making the initial record of the names of individuals who have been brought to the police station upon their arrest. The process of logging in is also called booking. to the UniFi PRO Mortgage system, Hrabik said. And with accurate, real-time access to product and pricing information, loan officers no longer need to download rate sheets on a daily basis, she said. "With the ultra-thin-client UniFi PRO Mortgage solution, Commercial Federal is demonstrating that lenders can use intranet-based technology to generate real gains in productivity and efficiency," said John Tenuta, President of Fiserv Lending Solutions. "From communicating current rates to accelerating loan processing, this deployment option gives lenders the technology they need to provide better service to their lending staff throughout the enterprise and, in turn, to their customers." Fiserv has managed the bank's information-technology needs since 1989 and significantly expanded the relationship in 1997. Other Fiserv solutions used by the bank include the Fiserv MortgageServ(TM) loan-servicing solution, the Fiserv Comprehensive Banking System (CBS (Cell Broadcast Service) See cell broadcast. ) for core-account processing, Fiserv InformEnt(TM) data warehousing See data warehouse. data warehousing - data warehouse , the Fiserv FAST account sales and teller platform, the Fiserv CSCS CSCS Certified Strength and Conditioning Specialist CSCS Center for the Study of Complex Systems (University of Michigan) CSCS Construction Skills Certification Scheme (UK) CSCS Center for Surface Combat Systems call-center system, and Fiserv EFT/CNS for ATM services. Commercial Federal Corporation (NYSE NYSE See: New York Stock Exchange :CFB CFB Canadian Forces Base ) is the parent company of Omaha, Nebraska-based Commercial Federal Bank, a $13.3 billion federal savings bank Noun 1. federal savings bank - a federally chartered savings bank FSB savings bank - a thrift institution in the northeastern United States; since deregulation in the 1980s they offer services competitive with many commercial banks that currently operates branches in Nebraska, Iowa, Colorado, Kansas, Oklahoma Kansas is a town in Delaware County, Oklahoma, United States. The population was 685 at the 2000 census. Geography Kansas is located at (36.202423, -94.795122)GR1. , Missouri, and Arizona. Commercial Federal operations include consumer, commercial, mortgage, and Internet-based banking; consumer, commercial, and small-business lending; and insurance and investment services. Commercial Federal's Web site can be accessed at www.comfedbank.com. Fiserv Lending Solutions, a unit of Fiserv, Inc., is a leading provider of loan origination and processing technology to the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry. Fiserv Lending Solutions' software is helping lenders nationwide improve the productivity of their operations. Fiserv Lending Solutions can be found on the Internet at www.fiservlendingsolutions.com. Its products include: -- UniFi PRO Mortgage, a highly customizable, enterprise-wide lending solution of unlimited scalability for larger, highly sophisticated, multi-channel lenders. -- easyLENDER(R) Mortgage and easyLENDER Consumer/Commercial, complete, Windows(R)-based software solutions that automate every phase of loan origination, processing and closing for banks, thrifts, and credit unions. Fiserv, Inc. (Nasdaq:FISV) provides industry leading information management systems and services to the financial industry, including transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. , outsourcing, business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in and software and systems solutions. The company serves more than 14,000 clients worldwide, including banks, broker-dealers, credit unions, financial planners/investment advisers, insurance companies and agents, self-insured employers, lenders and savings institutions. Headquartered in Brookfield, Wisconsin, Fiserv reported $2.3 billion in processing and services revenues for 2002. Fiserv can be found on the Internet at www.fiserv.com. |
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