For the second time in the last two months, Fiserv is growing its suite of financial services technology solutions.
In June, Fiserv announced that it reached an agreement to acquire Monitise, London-based provider of financial services technology, for $90 million in cash. Monitise offers a portfolio of digital solutions that helps some of the world’s largest financial institutions design, build, run and deliver digital banking experiences.
Now, Fiserv, a provider of financial services technology solutions, is growing its mortgage technology platform by acquiring PCLender, a provider of internet-based mortgage solutions for community banks and credit unions.
Technically, Fiserv acquired “the assets” of PCLender, a member of HousingWire Magazine’s 2017 HW TECH100. According to Fiserv, the acquisition of PCLender will “enhance the Fiserv suite of mortgage origination services.”
In a release, Fiserv said that it views PCLender’s platform as a “complement” to the company’s current offerings because PCLender’s solution “simplifies origination, document collection and compliance reporting, streamlining consumer direct and retail mortgage and HELOC loan origination.”
Jeffery Yabuki, Fiserv’s president and chief executive officer, said that acquiring PCLender is the next step in the company’s growth.
“Rapidly evolving consumer expectations require a seamless approach to banking experiences, including mortgage origination,” Yabuki said. “PCLender provides Fiserv with a full digital suite of mortgage origination solutions for banks, credit unions and mortgage lenders. We welcome the existing clients and talented team members to our company.”
Lionel Urban, PCLender’s CEO, said that having Fiserv’s financial backing will allow the company to expand its platform.
“Joining Fiserv accelerates our ability to scale our solution, while simplifying solutions for every phase of the loan process to benefit our clients,” Urban said. “We look forward to leveraging our combined expertise to deliver greater client value and an enhanced experience for their customers.”
Financial terms of the deal were not disclosed.