FinLocker (www.FinLocker.com), a financial data and analytics company, today announced a strategic relationship with Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions. The relationship between FinLocker and Fiserv creates the opportunity for lenders within the FinLocker mortgage network to incorporate financial data aggregation and personal financial management tools into the mortgage origination process.
With access to financial data via aggregation, lenders can automatically validate critical borrower information, including employment, income, assets, taxes, credit and other information, against mortgage and other lending guidelines, as well as highlight actionable areas. FinLocker’s platform can dramatically reduce lender costs, data errors and processing timelines by eliminating reliance on the consumer to collect and submit paper documents, then analyzing the corresponding data. Utilizing aggregation technology to streamline the collection of required information makes life much easier for the consumer.
In addition, personal financial management tools from Fiserv will provide additional data for FinLocker’s patented re-usable “financial locker” for consumers, which can be used for mortgages, auto loans, student loans, small business loans and other consumer transactions.
“Fiserv is a trusted provider to financial institutions. Leveraging market leading financial data aggregation from Fiserv within our analytics platform will provide lenders and consumers with more comprehensive coverage and better data quality,” said Peter Esparrago, FinLocker CEO & Co-Founder.
“Having the right data can make all the difference when it comes to delivering a positive user experience,” said Russ Chacon, vice president, product management, Fiserv. “Our aggregation tools are continually being adapted into new markets, and this integration with the FinLocker platform is another step in providing the insights businesses need to deliver the capabilities consumers expect.”
FinLocker is a secure financial data and analytics platform that eases the pains of the mortgage process for both lenders and consumers. FinLocker enables access to consumer financial data electronically, and applies business rules and other algorithms to verify and analyze employment, income, assets, credit, taxes and other information. FinLocker provides the consumer a re-usable financial locker to utilize for mortgages, auto loans, student loans, small business loans, and other consumer transactions. The company is headquartered in St. Louis, Missouri. For more information, visit FinLocker.com.
Fiserv, Inc. (NASDAQ: FISV) enables clients worldwide to create and deliver financial services experiences that are in step with the way people live and work today. For more than 30 years, Fiserv has been a trusted leader in financial services technology, helping clients achieve best-in-class results by driving quality and innovation in payments, processing services, risk and compliance, customer and channel management, and insights and optimization. Fiserv is a member of the FORTUNE® 500 and has been named among the FORTUNE Magazine World's Most Admired Companies® for four consecutive years, ranking first in its category for innovation in 2016 and 2017. For more information, visit fiserv.com.
Contact: Mike Atwell, Vice President of Sales, FinLocker
Contact: Ann Cave, Director, Public Relations, Fiserv