Transaction Processing Systems
Fidelity National Information Services Launches Transaction PRO Product
An Economical Solution for Evaluating Property Portfolio Risk
October 9, 2007
JACKSONVILLE, Fla. - Fidelity National Information Services, Inc. (FIS) today announced the introduction of Transaction PRO, an automated risk analysis and fraud prevention tool for mortgage loan transactions. Transaction PRO, developed by FIS' Valuation Solutions division, combines speed, state-of-the-art technology and one of the largest, most accurate property databases in the business.
Transaction PRO leverages FIS' extensive data resources to identify risk in 12 categories associated with three risk indicators: borrower risk, mortgage transaction participant quality and property collateral valuation. Transaction PRO also enables clients to set risk tolerances and automate follow-up due diligence in accordance with the risk indicators.
"Due to the complexity of the mortgage transaction, there is a need for an encompassing solution that can identify risk at the borrower, participant and collateral levels of the transaction," said Jon Davis, president of FIS' Valuation Solutions division. "We have developed a cost-effective solution for the origination, secondary and servicing markets, protecting lenders and investors each step of the way."
A recent FIS study estimates that default costs are 500 percent higher when a property is not valued correctly initially. Transaction-participant risk scores generated by Transaction PRO help mitigate these types of valuation losses and identify potential fraud by breaking down the risk factors into multiple segments according to the risk indicators.
For more information on Transaction PRO and other FIS Valuation Solutions products and services, call 800.282.1104.
About Fidelity National Information Services
Fidelity National Information Services, Inc. (NYSE:FIS) is a leading provider of core processing for financial institutions; card issuer and transaction processing services; mortgage loan processing and mortgage-related information products; and outsourcing services to financial institutions, retailers, mortgage lenders and real estate professionals. FIS has processing and technology relationships with 35 of the top 50 global banks, including nine of the top 10. Approximately 50 percent of all U.S. residential mortgages are processed using FIS software. FIS is a member of Standard and Poor's (S&P) 500® Index and has been ranked the number one banking service provider in the world by American Banker and the research firm Financial Insights and the number two overall financial technology provider in the annual FinTech 100 rankings. Headquartered in Jacksonville, Fla., FIS maintains a strong global presence, serving more than 7,800 financial institutions in more than 60 countries worldwide. For more information on Fidelity National Information Services, please visit www.fidelityinfoservices.com.
For additional information contact:
Michelle Kersch,
Sr. VP, Marketing and Corporate Communications,
Marketing Communications
Phone: 904-854-5043,
Email: michelle.kersch@fnis.com
