BROOKFIELD, Wis. (2/23/11)--Financial services technology solution provider Fiserv Inc. has rolled out LoanServ: LoanLink, a new module that gives lenders the ability to offer borrowers access to their loan information in real-time via the Internet or Apple iPhone or iPad applications. The LoanLink iPhone/iPad application from Fiserv is designed to help lenders take advantage of a high-demand channel to improve customer acquisition and retention rates. The number of mobile phone users who conducted one or more banking services via their mobile phone increased from 23% in 2008 to 30% in 2010, according to a study conducted by Fiserv in 2010. In the same study, Fiserv found that 43% of all consumers were interested in conducting a financial transaction on their mobile phone, and interest was greatest (60%) among Gen Y consumers. Lenders can provide borrowers with mobile access to services such as:
* Account cross-referencing; * Loan payments; * Payoff requests; * Payment histories; * Address and contact information updates; * Member/customer financial information; and * Information about loan modification and alternate options.
With LoanLink lenders can offer member/customers 24/7 access to their loan records, and they can pull information directly from the LoanServ platform in real time, avoiding the typical data-sync issues associated with batch processing.