Fiserv, Inc., a global provider of financial services technology solutions, announced that Remarketing Services of America, part of the Lending Solutions business at Fiserv, is officially changing its name to Fiserv to align with the rest of the company. The business provides strategic vehicle remarketing that increases the value of auto loan portfolios held by captive auto manufacturers, banks, credit unions and other automotive financial institutions.
Fiserv will continue to deliver comprehensive vehicle remarketing services focused on moving returned vehicle inventory quickly and increasing the value of auto loan portfolios. As the largest third-party remarketing company in the U.S., Fiserv has sold approximately 700,000 remarketing units for more than 375 clients since 2001.
“We have more than 20 years of remarketing experience representing many of the leading financial institutions nationwide,” said Kevin Collins, president, Lending Solutions, Fiserv. “Under the Fiserv brand, we will continue to handle single components of an auto lender’s vehicle remarketing activities or implement an end-to-end vehicle remarketing strategy – from vehicle pickup through the auction process.”
Growing activity in leasing and certified pre-owned (CPO) vehicles has led to an increasing demand for efficient vehicle liquidation. For financial institutions liquidating relatively low volumes of vehicles Fiserv can help shorten turnaround time and maximize resale price for returned vehicles (off-lease or repossessions). Fiserv provides a wide selection of inventory offered across the country via physical auctions and online selling channels. On-site Fiserv agents at national and independent auctions provide competitive vehicle pricing, recommend value-added repairs, promote fair selling practices and recognize operational best practices through audits of the auctions. Additionally, Fiserv uses a collaborative selling strategy with dealers to maximize sale percentages and provides a national title network.