FIS and cloud-native lending technology provider Fuse have formed a strategic alliance to offer a modern loan and lease origination platform for indirect auto and equipment lenders in the United States and Canada.
The partnership is designed to help lenders replace legacy origination systems that often create delays in credit decisions, require manual underwriting processes and make it difficult to integrate with dealer channels and third-party data providers, according to a June 8 release from FIS. The companies said those limitations can lead to slower dealer response times and lost business opportunities.
Through the alliance, Fuse’s cloud-native origination platform will integrate with FIS Asset Finance and FIS AutoSuite, creating an end-to-end ecosystem that connects origination and servicing functions, according to the release. The platform allows lenders to update credit policies, pricing and procedures without extensive coding or vendor intervention while simplifying integrations through an open API framework.
The companies said the solution includes automated workflows designed to reduce manual underwriting touchpoints, improve decision consistency and lower operating costs, according to the release. Dealer-facing features include real-time application status updates, self-service document submission and instant counteroffer capabilities.
The alliance provides lenders with a modernization path that supports faster deployment of new credit strategies and greater flexibility in responding to market demands, according to the release. Jacksonville, Fla.-based FIS provides financial technology solutions to financial institutions and businesses worldwide. Fuse develops configurable loan origination technology for indirect auto and equipment finance lenders.
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