National Rural Utilities Cooperative Finance Corporation Selects FIS for Commercial Loan Enhancement
October 28, 2020
- National Rural Utilities Cooperative Finance Corporation (CFC) selected FIS Commercial Lending Suite to consolidate loan origination and back office servicing.
- FIS Commercial Lending solution will consolidate CFC’s legacy lending systems into one fully integrated front to back solution.
JACKSONVILLE, Fla., October 28, 2020 – Financial technology leader FIS® (NYSE: FIS) today announced that it has been selected by the National Rural Utilities Cooperative Finance Corporation (CFC) to help the organization consolidate its loan origination and management platform to better serve its members in the utilities industry.
CFC is a nonprofit, member-owned organization that provides financing to electric cooperatives that serve more than half of the land mass of the United States. CFC was looking to integrate and enhance its loan origination and management systems and selected the FIS Commercial Lending Suite.
CFC will consolidate its lending platforms onto the FIS leading-edge Commercial Loan Origination and Commercial Loan Servicing (ACBS) solution for an end-to-end transformation of their lending platform.
“CFC looks forward to working with FIS to help better serve our members,” said Graceann Clendenen, Senior Vice President and Chief Administrative Officer at CFC.
“Our Commercial Lending solution is a modern front-to-back-office solution that was designed to help our clients in growing their business through efficient technology platforms taking advantage of digitalization for customer interaction,” said Nasser Khodri, Head of Sell-side, Capital Markets at FIS. “Because the commercial loan origination process can be quite labor-intensive, our Commercial Loan Origination and ACBS deliver twenty-first century capabilities to organizations like CFC, streamlining their processes and speed of doing business.”
FIS is a leading provider of technology solutions for merchants, banks and capital markets firms globally. Our employees are dedicated to advancing the way the world pays, banks and invests by applying our scale, deep expertise and data-driven insights. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in Jacksonville, Florida, FIS is a Fortune 500® company and is a member of Standard & Poor’s 500® Index. To learn more, visit www.fisglobal.com. Follow FIS on Facebook, LinkedIn and Twitter (@FISGlobal).
For more information
Kim Snider, 904.438.6278
Senior Vice President
FIS Global Marketing and Communications