"Fiserv is committed to delivering value for clients, and we expect this partnership with Warburg Pincus to further enhance service and innovation across the lending marketplace," Jeffery Yabuki, president and chief executive officer, Fiserv, said. "In addition, we will continue to provide integration advantages to ensure that our collective clients get the best of both organizations to provide differentiated value for our clients, associates and shareholders."

"We are pleased to partner with Fiserv and the Lending Solutions leadership team on this new joint venture, which brings together two leading businesses that provide mission-critical solutions to a growing and attractive client base," Jim Neary, managing director, Warburg Pincus, said. "We see meaningful opportunity to further build this business into a leading platform in automotive and mortgage lending technology."

The transaction's target close is in the first quarter of 2018.

In another loan-related announcement: Farmington Hills, Mich.-based CUSO Member Driven Technologies expanded its partnership with Islandia, N.Y.-based Teledata Communications to offer a comprehensive consumer loan origination system, DecisionLender 4, to its credit union clients.

With DecisionLender 4, MDT offers a single, cohesive platform for all credit unions' lending needs including indirect, direct and online lending, as well as account opening. The system, according to TCI, streamlines the loan and account opening processes from application to funding, increasing efficiency and allowing credit unions to process higher volumes of loans without additional resources. Automated decisioning allows credit unions to process, underwrite, close, and fund loans within a single platform. The system includes a two-way interface that updates borrowers in real time about their loan status.

"We strive to provide clients with the best possible tools to streamline processes and enhance all aspects of member service, including lending," stated Larry Nichols, president and CEO of MDT. "DecisionLender 4 easily adapts to credit unions' specific workflows, decision criteria and branding, allowing institutions to easily adopt the best loan process for their particular institutions." Nichols also explained as business needs, member expectations and the regulatory mandates evolve, the platform allows updates in real time. "By equipping our credit unions with the tools to make better decisions faster, they'll be able to successfully compete with both national institutions and the numerous alternative lenders and third parties in the market today."

Barry Kirby, vice president of TCI said. "Lending has traditionally been a cumbersome, costly process for credit unions, which can often result in a frustrating member experience – but it doesn't have to be that way." Kirby added, "Our solution allows credit unions to reduce bottlenecks and complexities while ultimately enhancing the member experience."

TCI noted DecisionLender 4's flexible design allows MDT's credit union clients to configure their institutions' specific lending criteria and workflow parameters. The platform includes a cross selling module that provides additional funding options. The tool integrates with third party providers for eSignature, imaging, online banking, and the Symitar® Episys® core-processing platform.

According to Bill Nass, TCI's president, DecisionLender 4 dovetails perfectly with MDT's portfolio. "As one of the industry's most respected CUSOs, MDT offers its customers an impressive variety of services that improve their critical processes and workflows. We're looking forward to assist MDT customers make an efficient and successful transition into the lucrative world of internet-based lending."