Oct 03, 2013
Brookfield, September 19th 2013 - Fiserv, Inc., a leading global provider of financial services technology solutions, announced today that The First National Bank of Long Island (FNBLI), located in Glen Head, N.Y., has implemented Common Origination Platform™ to meet its consumer, business and mortgage lending needs. Common Origination Platform from Fiserv is a single-platform solution that gives lenders a holistic view of their borrowers across all lending channels and products, aggregating data in one place regardless of the point of origination or loan type. FNBLI selected an ASP delivery model for Common Origination Platform.
FNBLI, the largest independent commercial bank headquartered on Long Island, is known for operational excellence. Several financial firms, such as Raymond James, Keefe, Bruyette & Woods and Sandler O'Neill, have reported FNBLI as one of the strongest and best operating banks in the country within its peer group. A Fiserv client since 1987, FNBLI utilizes a host of Fiserv solutions including the Signature® account processing platform. Through Common Origination Platform, the bank will not only have the ability to originate all types of loans but will benefit from the planned integration of the lending system into its account processing platform. The functionality will help the bank to increase efficiencies and minimize time needed for employee training.
"We run a lean operation which means that every member of our staff is responsible for all types of lending. By implementing Common Origination Platform from Fiserv, we are giving our staff the best tools available as we provide our customers with the levels of service they have come to expect," said Rich Kick, executive vice president, FNBLI. "Our time-tested relationship with Fiserv makes us confident that they will continue to invest in technologies like Common Origination Platform and product integrations that make them a strategic partner in our success."
"Common Origination Platform has the capabilities financial institutions need as they adjust to the current loan origination landscape. Fiserv will help First National Bank of Long Island to drive down operational costs, reduce redundant processes and comply with increasing regulatory demands," said Kevin Collins, division president, Lending Solutions, Fiserv.
FNBLI relies on a host of Fiserv solutions in addition to Common Origination Platform and Signature. These solutions include CheckFree® RXP®, CheckFree® Small Business, ConvergeIT®, Risk OfficeSM, UChoose Rewards®, Debit Processing, PEP+® and the Accel™ payments network, among others.
Common Origination Platform is an enterprise lending solution designed to originate consumer, business, mortgage and other 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. 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.
Re-disseminated by The Asian Banker