Fiserv’s Latest Venture to Create Growth and Opportunity

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago bret leech charles sutherland Fiserv HOUSING mortgage warburg pincus 2018-02-07 Rachel Williams February 7, 2018 3,436 Views Tagged with: bret leech charles sutherland Fiserv HOUSING mortgage warburg pincus Previous: Northsight Management Finalizes Merger with Truly Noble Services Next: David Stevens Says Farewell About Author: Rachel Williams The Best Markets For Residential Property Investors 2 days ago Related Articles Rachel Williams attended Texas Christian University (TCU), where she graduated with Magna Cum Laude with a dual Bachelor of Arts in English and History. Williams is a member of Phi Beta Kappa, widely recognized as the nation’s most prestigious honor society. Subsequent to graduating from TCU, Williams joined the Five Star Institute as an editorial intern, advancing to staff writer, associate editor and is currently the editor in chief and head of corporate communications. She has over a decade of editorial experience with a primary focus on the U.S. residential mortgage industry and financial markets. Williams resides in Dallas, Texas with her husband. She can be reached at [email protected] Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Fiserv’s Latest Venture to Create Growth and Opportunity Bret Leech, President of Lending Solutions, FiservCharles Sutherland, VP Product Management & Strategy, Lending Solutions at FiservDS News sat down with Bret Leech, President of Fiserv Lending Solutions and Charles Sutherland, VP Product Management & Strategy, Lending Solutions at Fiserv during the National Mortgage Servicing Conference and Expo 2018 on Wednesday to discuss how the company is currently creating better growth opportunities for both clients and borrowers.Fiserv, Inc. is a global provider of financial services technology solutions, and the company announced on Wednesday a newly formed joint venture with Warburg Pincus, LLC, a global private equity firm focused on growth investing.Driven by Leech and Sutherland, the new venture is expected to create value for current and future clients by partnering closely with Fiserv for seamless delivery of account processing, integrated billing and payments and LoanComplete solutions, and through Warburg Pincus’ demonstrated expertise and track record in growing financial technology businesses of scale.According to the company’s announcement, the definitive agreement with Warburg Pincus is pursuant to which funds affiliated with Warburg Pincus will acquire a 55 percent share of the Lending Solutions business of Fiserv. Fiserv will receive approximately $395 million in net after-tax proceeds and retain a 45 percent equity interest in the business.The transaction, which is subject to customary closing conditions, is targeted to close in the Q1 2018.DS // What impact is Fiserv’s new venture going to have on the market? Leech // We think about it from our borrowers and clients perspective. For us, we’re pretty excited about the growth and opportunity that it means. We’re really taking the best of Fiserv and adding a great partner, Warburg Pincus, who has a terrific track record of really growing the markets they are involved with. Ultimately, we see that as an opportunity to do better by our clients and help them do best for their borrowers.DS // How did Fiserv and Warburg Pincus begin this partnership? Leech // Warburg Pincus is a global private equity firm, and we’ve known them for many years. About a year ago we started thinking, “Hey how can we accelerate what we’re doing in the marketplace?” We’re really honored to work with the clients we have, we have a great list of clients, but we wanted to make sure we were doing even more for them.So as we started to go out into the market and chat with different folks, we found Warburg Pincus as someone who aligned with the vision that we had and the growth opportunities that we saw in the market and decided to partner with them. Warburg Pincus has done this time and time again and has a history not only in the market broadly but also in the space that we operate in.DS // What else is on the horizon for Fiserv? Leech // As a firm, we are committed to the path we’ve laid out for our clients and excited to talk with them about new ways that we can grow that even faster. So for us, time with the clients is always number one, we are definitely client focus in how we approach the market, we believe that understanding their needs and ultimately the borrowers will set us all up well for success. The job for us is similar as it was the other day, just at a faster pace. Let’s get with our clients, continue to communicate with them and make sure we have great alignment when it comes to our roadmap, both with existing clients and some with the potential that we are chatting with. Demand Propels Home Prices Upward 2 days ago Subscribe in Daily Dose, Featured, News, Servicing, Technology Fiserv’s Latest Venture to Create Growth and Opportunity Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily last_img read more