Mid America Bank Goes Paperless with Integration of the Fiserv UniFi(R) PRO and Nautilus Systems.BROOKFIELD, Wis. -- Fiserv, Inc. (Nasdaq:FISV FISV Fiserv, Inc (stock symbol) ) said Mid America Bank is now leveraging the UniFi(R) PRO Mortgage eX 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's integration of Fiserv's Nautilus nautilus, in zoology nautilus, cephalopod mollusk belonging to the sole surviving genus (Nautilus) of a subclass that flourished 200 million years ago, known as the nautiloids. Enterprise Content Management (ECM (1) (Enterprise Change Management) See version control and configuration management. (2) (Error Correcting Mode) A Group 3 fax capability that can test for errors within a row of pixels and request retransmission. ) system to compress loan processing time. MAF MAF macrophage activating factor. Bancorp (Nasdaq:MAFB MAFB Minot Air Force Base (North Dakota) MAFB Malmstrom Air Force Base (Montana) MAFB Maxwell Air Force Base (Alabama) MAFB McGuire Air Force Base ), the parent company of Mid America Bank, is headquartered in Clarendon Hills, Ill., a suburb of Chicago. This integration project is another example of Fiserv's broad-ranging and successful deployment of service-oriented architecture See SOA. . The UniFi PRO loan origination system provides Mid America Bank with comprehensive workflow functionality, document production, strategic reporting and advanced support for multiple business channels Business channels are TV channels that concentrate on business news. List of channels
Ken Rusdal, senior vice president of operations and information systems at Mid America Bank, cited the bank's satisfaction with the UniFi PRO loan origination system as a key factor in the selection of the Fiserv imaging solution. "Fiserv has been a very reliable technology partner. We are now benefiting from the seamless integration An addition of a new application, routine or device that works smoothly with the existing system. It implies that the new feature or program can be installed and used without problems. Contrast with "transparent," which implies that there is no discernible change after installation. of the loan origination and imaging systems," said Rusdal. "With UniFi PRO and Nautilus automation and workflow management tools, we have been able to recreate ourselves as a paperless enterprise." 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. Alison Bettisworth, Mid America's first vice president of systems and voice communications, the auto-tasking capabilities of UniFi PRO efficiently distribute files to work queues and also prioritize associates' work in relation to timelines, rate locks and closing dates. Integration of electronic documents further streamlines the bank's workflow by eliminating delays caused by waiting for loan files to route through departments or be tracked down by associates. "It's now instantaneous," Bettisworth said. "In the past, when a customer wanted to know something about a loan, you had to go digging around for it. Now we go into the Nautilus imaging system through UniFi PRO or independently and we can easily find the customer's file." The automated electronic document/loan origination workflow reduces errors and saves time by eliminating manual document indexing. To facilitate retrieval, loan documents entering the Nautilus system are automatically classified by group and type. This simplifies document selection for easy viewing, printing or faxing. In addition, documents can be synched up with UniFi PRO screens to share the same information. The new, paperless workflow has taken time out of Mid America Bank processes. "We have been able to close up some timelines. Getting an appraisal from our outside appraiser A person selected or appointed by a competent authority or an interested party to evaluate the financial worth of property. Appraisers are frequently appointed in probate and condemnation proceedings and are also used by banks and real estate concerns to determine the market to an associate used to take 24 to 48 hours," said Bettisworth. "Now, it takes just minutes, which is a huge benefit and a significant return on our investment." Fiserv worked to ensure that the combination of UniFi PRO and Nautilus would transform lenders' operations. "With one click of a button, all documents related to a specific UniFi PRO screen can be retrieved in real time," said John Tenuta, a division president of Fiserv Lending Solutions. "This enables our clients to have images of actual applications, appraisals, letters - literally every document associated with an account - instantly available for review. This is a great advantage when our clients are talking to Noun 1. talking to - a lengthy rebuke; "a good lecture was my father's idea of discipline"; "the teacher gave him a talking to" lecture, speech rebuke, reprehension, reprimand, reproof, reproval - an act or expression of criticism and censure; "he had to their customers because all the information is right there." Part of the reason that the UniFi PRO and Nautilus integration takes time out of the process is that more than one Mid America employee is able to view a document image simultaneously, while still maintaining centralized document control. It has allowed Mid America to replace static linear processes with a more dynamic method of working. To satisfy compliance requirements, integration of Nautilus also provides Mid America Bank with post-closing archival document storage. MAF Bancorp is the parent company of Mid America Bank, a federally chartered stock savings bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. . The bank currently operates a network of 73 retail banking offices throughout Chicago and Milwaukee and their surrounding areas. Offices in Wisconsin operate under the name "St. Francis Bank, a division of Mid America Bank." The company's common stock trades on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol MAFB. UniFi PRO Mortgage eX is a next-generation loan origination system that blends innovative, Web-centric technology with proven business logic. With its service-oriented architecture, highly configurable decision-making and workflow capabilities and complete integration to a wide range of services and business systems, UniFi PRO Mortgage eX offers lenders the tools to achieve a fully automated, end-to-end mortgage-processing environment. UniFi PRO Mortgage eX automates every phase of mortgage and home-equity loan Home-Equity Loan A consumer loan secured by a second mortgage, allowing home owners to borrow against their equity in the home. The loan is based on the difference between the homeowner's equity and the home's current market value. origination, electronic processing, traditional processing and closing. UniFi PRO Mortgage eX is an offering of Fiserv Lending Solutions, a suite of products and services for mortgage, consumer and equity lenders. The comprehensive lending solutions set includes loan origination and servicing software; lead management and customer loyalty services; electronic document management solutions; automated lending services such as credit, flood and valuations; field services such as appraisals, inspections and broker price opinions; closing services; and default management solutions. Further details are available on the Internet at www.fiservlendingsolutions.com. Fiserv, Inc. (Nasdaq:FISV) provides information management systems and services to the financial and health benefits industries, including transaction processing, 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 16,000 clients worldwide, including banks, credit unions, financial planners/investment advisers, insurance companies and agents, self-funded employers, lenders and savings institutions. Headquartered in Brookfield, Wis., Fiserv reported $3.4 billion in processing and services revenues for 2004. Fiserv was ranked the largest provider of information technology services to the U.S. financial services industry in the 2004 FinTech 100 survey by the American Banker newspaper and the Financial Insights research firm. Fiserv can be found on the Internet at www.fiserv.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion