Popular Auto Chooses Fiserv LeMans Solution for Loan and Lease Management

KING OF PRUSSIA, Pa.--June 28, 2004--Popular Auto, the auto finance division of Banco Popular de Puerto Rico, the island's leading financial institution ($35.8 billion in assets), has chosen Fiserv LeMans to upgrade and integrate its auto finance portfolio management systems.

Popular Auto is the leader in auto leases, auto loans and daily rental services in Puerto Rico. Fiserv LeMans is a unit of Fiserv, Inc. specializing in software and services for the automotive finance industry.

According to Kevin J. Collins, President of Fiserv LeMans, the bank wanted an integrated, end-to-end solution to service its mix of loan and lease accounts, and capable of handling the accounting needs and as well as add an important advantage in customer service. After an intensive three-year evaluation of industry offerings, Popular Auto licensed the Fiserv LeMans VehicleLinQ modules as well as the core accounting systems for retail and lease.

Andres F. Morrell, the recently retired President & CEO of Popular Auto, was closely involved in the effort. "The choice of Fiserv LeMans as our system provider was driven by the strength of their product performance and the trust we have in their people," Morrell said.

The VehicleLinQ modules chosen by Popular Auto will enable the company to integrate its contract verification, customer service, title management, end-of-term telemarketing and inventory management with its retail and lease accounting systems.

"Popular Auto was looking to increase the efficiency and effectiveness of its customer service representatives," Collins said. "VehicleLinQ gives their employees the relevant information they need to take the right action for the customer. With the right information on hand, they can efficiently handle a customer's request the first time, increasing customer satisfaction and reducing the need for further action."

The Customer Service System (CSS) captured the imagination of Gladys Molina, Vice President of Customer Service for Popular Auto. "I saw the potential of CSS to improve my staff's interaction with our customers, allowing us to deliver service excellence across the board," Molina said. "The memo feature expands our ability to have a consistent view of the customer."

In welcoming the Puerto Rico-based firm, Collins said, "We are honored to add Popular Auto to our client partnerships. We look forward to working with them to meet the unique needs of their financial market, and we are proud that they recognized the quality of our end-to-end solution."

Fiserv LeMans (www.fiservlemans.com) and its VehicleLinQ solution are among a suite of products and services provided by Fiserv to consumer and mortgage lenders. Fiserv's comprehensive lending solution set includes auto finance portfolio management solutions, mortgage and auto lead generation management and customer loyalty programs, industry-leading automated valuation model (AVM) products, mortgage banking software and services, appraisals, broker price opinions, credit reporting, closing services and default management.

Fiserv, Inc. provides industry leading information management systems and services to the financial industry, including transaction processing, outsourcing, business process outsourcing and software and systems solutions. The company serves more than 15,000 clients worldwide, including banks, broker-dealers, credit unions, financial planners/investment advisers, insurance companies and agents, self-funded employers, lenders and savings institutions. Headquartered in Brookfield, Wisconsin, Fiserv reported $2.7 billion in processing and services revenues for 2003. Fiserv can be found on the Internet at www.fiserv.com.