Fiserv, Inc., a global provider of financial services technology solutions, announced that Old Point National Bank (OPNB), a subsidiary of Old Point Financial Corp. based in Hampton, Va., has selected the Common Origination Platform to meet its consumer and business lending needs.
According to a release, 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, regardless of the point of origination or loan type. By aggregating all of this information in one place, OPNB gets a view of its borrowers, enabling them to better serve those borrowers, a key initiative for the bank.
With $845.3 million in assets, OPNB offers a broad range of banking services to retail and commercial customers. The bank cited the customizable document generation of Common Origination Platform and its ability to be integrated into other Fiserv solutions as reasons for its selection. As a user of the Signature bank platform from Fiserv, the bank chose the hosted deployment option so that it could take advantage of the infrastructure capabilities available through Fiserv.
"Fiserv has been a partner of ours for a number of years and we trust their expertise in the financial services industry. Common Origination Platform is another example of how they are using their expertise to enhance the industry," said Tyler White, SVP, Information Technology, OPNB. "Lending is important to our customers and, as such, it is important to our institution. With Common Origination Platform and its integration with other Fiserv solutions, we will be able to deliver efficiencies and provide even better service to our customers."
Fiserv noted that OPNB has been a Fiserv client since 1996. In addition to Common Origination Platform, the bank utilizes the Signature bank platform, Nautilus enterprise content management system, EnAct enterprise sales management system and the Fraud Detection System from Fiserv.
"Common Origination Platform has the capabilities financial institutions need to modernize their lending operation," said Kevin Collins, president, Lending Solutions, Fiserv. "As an enterprise lending solution, Common Origination Platform is designed to enable lenders to establish their own process rules to automate virtually every origination transaction based on their institution's specific needs. Defining these operating procedures, conditions and limits, will help OPNB build customer loyalty and provide products and services that keep pace with the rapidly evolving industry."
Common Origination Platform from Fiserv is designed to originate consumer, business, mortgage and other real estate-backed loans.
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