(PRWEB) June 8, 2003
King of Prussia, Pennsylvania, and Beverly, Massachusetts, June 6, 2003 Fiserv Inc. (Nasdaq: FISV) and Monetrics announced plans to develop a joint interface, tying the power of the unique, automated Monetrics Decision Engine to the automotive finance industrys foremost portfolio management software from Fiserv LeMans. The combination will enhance Fiserv LeMans existing credit scoring capabilities to provide an integrated, comprehensive analysis of a borrowers total default risk.
“The partnership between Monetrics and Fiserv LeMans will deliver the technology to automate and expedite the credit underwriting and credit decision processes, including optimizing portfolio collections management,” said Kevin Collins, President and Chief Executive Officer of Fiserv LeMans. “Clients of both companies will benefit from this new portfolio management tool.”
Decision Engine Technology
Monetrics Decision Engine technology utilizes patent pending relational decisioning that dramatically increases the automation rate. The technology emulates the human decision-making process and enables complex loan approvals for difficult applications without sacrificing automation. This new technology will permit Fiserv LeMans clients to evaluate and analyze multiple risk factors consistently in every loan application decision.
Through its VehicleLinQ product suite, Fiserv LeMans provides a seamlessly integrated set of solutions for automotive finance, from contract origination through termination and resale. Its Credit Processing System (CPS) is the gateway to the VehicleLinQ solution, automating the front-end process from application entry to discounting. Using CPS and the other VehicleLinQ components, organizations can manage a portfolio from credit processing and booking to
collections, including customer service, title management, inventory tracking, auction sales, collection of end of term and credit loss recoveries. The systems include management-defined queuing capabilities and enable universal memos (memos are stored in one location and are available to all systems) for retail, lease and balloon note accounts.
About Monetrics, Inc.
Headquartered in Beverly, Massachusetts, Monetrics, Inc. (http://www.monetrics.com) is a developer of decision technology and decision support systems for the finance industry. Using its innovative and proprietary Monetrics Decision Engine technology, Monetrics products permit clients to evaluate and analyze multiple risk factors in all decision making instances, helping to better evaluate the borrowers total default risk. Monetrics can be found on the Internet at http://www.monetrics.com.
About Fiserv LeMans
Fiserv LeMans is a unit of Fiserv, Inc. (Nasdaq: FISV) and can be found on the Internet at http://www.fiservlemans.com. Fiserv provides industry leading information management systems and services to the financial industry, including transaction processing, outsourcing, business process outsourcing and software and systems solutions. The company serves more than 13,000 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 http://www.fiserv.com.
# # #