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Consolidated Asset Recovery Partners with Fiserv

August 27, 2008

RALEIGH, N.C. — In response to increased demand for services to support the repossession and remarketing of nonperforming assets, Consolidated Asset Recovery Systems and Fiserv Automotive Solutions (FAS) have formed a strategic partnership. The companies plan to incorporate real-time assignment, tracking and management of assets through Consolidated Asset’s I-BEAM (Internet-Based Asset Management) Web portal and facilitate transport management, title management and auction representation.

“We are excited about our relationship with Consolidated Asset Recovery Systems,” said Mike Cimato, national sales executive, Fiserv Automotive Solutions. “Together we will be able to deliver the industry’s leading recovery and remarketing solution.”

By coupling the I-BEAM portal with a lender’s collection system, data can be shared with Consolidated Asset’s nationwide community of more than 400 repossession specialists. Information from the field is displayed in real time, providing instant updates to lenders. The partnership will help alleviate the expensive and slow method of traditional models that use inefficient paper-based processes.

“We have partnered with Consolidated Asset Recovery Systems to complete our national remarketing service offering,” said Craig Carrow, vice president of operations for Fiserv. "We're excited with the best-in-class services they bring to the table."

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