Kevin Collins, President of Lending Solutions, Fiserv


What are now the basic strat­e­gy and mis­sion of the Com­pa­ny?

The Fis­erv mis­sion is to pro­vide inte­grat­ed tech­nol­o­gy and ser­vices solu­tions that enable best-in-class results for our clients. With­in the Lend­ing Solu­tions divi­sion, our goal is to deliv­er the next gen­er­a­tion lend­ing expe­ri­ence.


What are the focused sales & mar­ket­ing objec­tives for your com­pa­ny in the next year?

One of our key focus­es is our lat­est orig­i­na­tion prod­uct, the Auto­mo­tive Loan Orig­i­na­tion Sys­tem v5. We are work­ing to migrate our remain­ing clients to the lat­est ver­sion of our loan orig­i­na­tion tech­nol­o­gy, as well as adding new clients to grow our auto­mo­tive loan orig­i­na­tion mar­ket share. We are also focused on main­tain­ing the top spot in the auto remar­ket­ing busi­ness, as Fis­erv is cur­rent­ly the largest third-par­ty remar­ket­ing com­pa­ny in the U.S.

Anoth­er area of focus is expan­sion of our auto lend­ing foot­print inter­na­tion­al­ly. We already have good pen­e­tra­tion in Cana­da, and we plan to lever­age the knowl­edge we’ve gained there to explore oth­er glob­al oppor­tu­ni­ties based on mar­ket analy­sis.


What do you see as your company’s biggest oppor­tu­ni­ties in next year? 

Fis­erv is in a very pos­i­tive posi­tion finan­cial­ly, and our exec­u­tive man­age­ment team has made well-found­ed and well-fund­ed strate­gic deci­sions, with impres­sive results such as achiev­ing near­ly 40 per­cent share of the cap­tive finance orig­i­na­tion space.  Our biggest oppor­tu­ni­ties reside in bring­ing our dig­i­tal capa­bil­i­ties to matu­ri­ty while dri­ving even more effi­cien­cies and val­ue to our clients.


What are the major or spe­cif­ic chal­lenges for your man­age­ment team in 2011?

Like our lender clients, we are keep­ing a watch­ful eye on poten­tial reg­u­la­to­ry changes.  With an expect­ed 300 changes from the new­ly-cre­at­ed Con­sumer Finan­cial Pro­tec­tion Bureau (CFPB), we have no idea what the over­all impact will be to our busi­ness.


What is your assess­ment of the auto­mo­tive mar­ket & the indus­try right now?

Devel­op­ing, enhanc­ing and main­tain­ing effi­cient process­es can be chal­leng­ing for cap­tive lenders. One thing they can’t do is divert atten­tion away from fine-tun­ing day-to-day per­for­mance because that’s what ulti­mate­ly leads to increased prof­itabil­i­ty and future growth.

The future real­ly lies with tech­nol­o­gy that makes it eas­i­er to fund and close more loans. The tech­nol­o­gy being used must take advan­tage of con­stant inno­va­tion, includ­ing embed­ded rules that auto­mate deci­sion­ing, con­fig­urable inter­faces and easy inte­gra­tion with third-par­ty sys­tems.

eCon­tract­ing that com­pletes the orig­i­na­tion cycle more effi­cient­ly requires faster and more wide-spread adop­tion. The eCon­tract­ing process great­ly reduces the time need­ed for loans to be approved and fund­ed. Ear­ly adopters of eCon­tract­ing are already real­iz­ing impor­tant ben­e­fits such as faster deal pay­ments from lenders. The indus­try as a whole, though, needs to take the next steps toward main­stream adop­tion. For lenders, an eCon­tract­ing approach pro­vides a com­pet­i­tive advan­tage. Going paper­less and stream­lin­ing the process saves time and labor costs. But deal­ers are big win­ners too. It can take as long as a week for a deal to be fund­ed with a paper con­tract, but elec­tron­ic con­tracts can result in same-day or next-day fund­ing. Con­tracts in tran­sit are vir­tu­al­ly elim­i­nat­ed, and that means bet­ter cash flow.


What has been your company’s biggest accom­plish­ment in the past year?

We con­cen­trat­ed on solu­tions that work togeth­er to pro­vide for the whole lend­ing life cycle, no mat­ter what is being financed. That holis­tic approach is key to our suc­cess and it allows us to con­tin­ue to cap­i­tal­ize on oppor­tu­ni­ties. For instance, the mort­gage mar­ket has been depressed, but the auto lend­ing mar­ket, includ­ing leas­ing, has been quick­er to rebound. Because Fis­erv plays in both indus­tries, we’ve been able to weath­er the ups and downs and are expe­ri­enc­ing con­sis­tent growth.


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