Press release as it was released by Fiserv.
Fiserv's MortgageServ? Integration With AnyQueue? Provides More Efficient Printing for Checks and Reports
BROOKFIELD, Wis.--August 18, 2005 -- Fiserv, Inc. (Nasdaq:FISV) has entered into a strategic alliance with output management leader Levi, Ray & Shoup, Inc. of Springfield, Ill., to integrate the AnyQueue check and document printing solutions with its MortgageServ loan servicing system. AnyQueue is a browser-based output management system that cost-effectively delivers and manages high volumes of checks, reports and letters.
The browser-based MortgageServ automates all mortgage and line-of-credit servicing processes, including cashiering, collections, default management, escrow and investor accounting. Integration of AnyQueue now provides MortgageServ clients with complete, browser-based control of all servicing system output without requiring expensive connectivity or dedicated printing hardware. Secure connectivity via standard Internet protocol directs output to designated destinations, including printers, e-mail, fax, COLD or a Web browser. In the past, servicers relied on multiple output products and vendors to provide such comprehensive document and report output.
"On behalf of our clients, Fiserv Lending Solutions seeks out companion technology products that enhance servicing productivity," said Jackson Pence, Certified Mortgage Banker and Vice President of Strategic Alliances, Fiserv Lending Solutions. "AnyQueue is a world class online output management solution and Levi, Ray and Shoup shares our dedication to service excellence which ensures that our clients' expectations will be met."
FirstMerit Mortgage Corp. (Nasdaq: FMER), Akron, Ohio, a wholly owned subsidiary of FirstMerit Corp., is one of the first financial institutions to benefit from the new alliance. The $10.3 billion financial services company reports that the combined offering has already created efficiencies.
"MortgageServ works with AnyQueue to provide a seamless point-and-click environment for producing disbursement checks," said Carol Baker, Project Manager, FirstMerit Mortgage. "We don't pre-print checks. Instead, we use electronic document overlays. When we want to print, the AnyQueue software merges our MortgageServ system data with a branded overlay to create a check. We are saving on both time and material."
By using electronic overlays that determine the look of the document output, AnyQueue eliminates the need for servicers to invest in and maintain a separate forms package that can cost as much as $25,000, not including the personnel time involved. Servicers also have the option to produce checks, letters and reports in real-time or to create printing jobs that run at intervals during the day. By opting to print at intervals, FirstMerit is able to use system reports to balance cash each day. AnyQueue can also uniquely identify all MortgageServ reports and letters automatically, allowing clients to route them to any desired location, storage or output device, without relying on expensive, dedicated printing hardware.
"Servicers can leverage this single-vendor solution to increase departmental control of output and immediately reduce overall physical delivery costs, as well as eliminate time delays and points of failure," said John Runions, global alliances manager at Levi, Ray and Shoup. "The bottom line is that MortgageServ customers can now purchase and maintain fewer applications to meet their complex printing requirements."
Founded as a local computer consulting company in 1979, Levi, Ray & Shoup, Inc. (LRS) has grown to become a global provider of innovative information technology solutions with more than 5,000 installations worldwide, including the top 15 US banks and most large financial services organizations. Corporate headquarters are located in Springfield, Illinois, and LRS offices are found throughout the United States and around the globe. LRS software is in use at a majority of Fortune 500 firms and in 30 countries around the world, and the company is recognized as a global IT leader. LRS is ranked by Software Magazine as one of the top 200 software companies in the world. LRS can be found on the Internet at www.VPS.com.
Fiserv, Inc. (Nasdaq: FISV) provides information management systems and services to the financial and health benefits industry, including software solutions, transaction processing, outsourcing, and business process outsourcing. The company serves more than 16,000 clients worldwide, including banks, thrifts, credit unions, lenders, financial planners/investment advisers, insurance companies, and self-funded employers. Headquartered in Brookfield, Wis., Fiserv reported $3.4 billion in processing and services revenues for 2004. Fiserv was ranked the largest provider of information technology services to the U.S. financial services industry in the 2004 FinTech 100 survey by the American Banker newspaper and the Financial Insights research firm. For more details, visit www.fiserv.com.
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