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November 20, 2005

Chase replaces outdated legacy platform

Chase, the consumer and commercial banking unit of JP Morgan, has selected Fiserv's mortgage servicing platform, MortgageServ, to replace and substantially upgrade its outdated legacy platforms.

By CBR Staff Writer

Having announced plans to add 800 mortgage officers – an increase of 30% over the next year, it was imperative that the business had the support an upgraded platform would lend to this scale of growth. Scott Powell, head of servicing at Chase explained, We plan to consolidate and upgrade our platform to help grow our mortgage business,

MortgageServ would give Chase not only excellent support for all its mortgage products, but it also will provide the flexibility to roll out new products quickly to meet customer needs, said Leslie Muma, Fiserv president and CEO. A solid information management system would also allow Chase to integrate delinquency and default management into its core servicing system.

Such investment is, perhaps, reflective of Chase’s commitment to securing an enviable position for itself in the banking market.

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