Fiserv has launched LoanLaunch, which will provide the framework for enterprise loan originations on a single platform.
Formerly known as Common Origination Platform, the solution will support consumer, business, mortgage as well as equity loans.
The solution will offer lenders a holistic view of borrowers across all channels and products. This will help enhance transparency across departments, customers and business processes.
At the same time, this will enable lenders to originate and close more loans with fewer resources.
The solution will enable lenders to respond to changing business requirements and introduce new opportunities within the organization to address diverse borrower segmentation.
Fiserv president of lending solutions Kevin Collins said: "LoanLaunch reflects our deep commitment to technology to address the credit needs of today’s borrowers, as well as our vision of delivering the next-generation lending experience.
"LoanLaunch is a powerful solution that offers financial institutions greater control over their lending decisions, more flexibility to address product, policy and regulatory changes, and support that meets changing consumer expectations of customer service."