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Mortgage servicers are operating in a more tightly regulated environment than ever before, and need to manage customer communications in a timely, clear and compliant manner. Venture Solutions, which has provided solutions to the mortgage servicing market for more than 30 years, collaborates with its clients to mitigate compliance risks, elevate customer experience and improve ROI.
“By looking at customer communication programs holistically, Venture can help service providers identify areas of opportunity to manage costs, increase deliverability, and ensure consistency and compliance while providing choice in customer communication delivery methods,” said Mark Wilkes, vice president of strategic business development at Venture Solutions.
Customer demand is necessitating that servicing providers provide statements, notifications and 24/7 access to account information across an increasing number of print and eDelivery channels.
Managing and executing these changing customer preferences is increasingly challenging. Venture offers a communication preference center that provides customers the tools to easily state and then apply their preferences to ensure they receive communications in their channels of choice.
“As delivery and access channels continue to expand, it is critical that service providers manage their compliance content accurately and keep it updated at all times across all channels. By managing one set of data and content variables with one vendor for all delivery channels, inconsistency is eliminated and the overall process is greatly simplified.”
Venture offers its clients a full range of services that seamlessly integrate print and eDelivery channels. For mortgage servicing, Venture produces statements, collection/default/foreclosure letters, welcome kits, modification packages, escrow statements, checks and year-end tax documents.
Venture’s eDelivery channels include email, SMS, self-service web, mobile web and mobile apps. The company’s Electronic Bill Presentment and Payment, or EBPP, solutions offer customers an easy-to-use option for viewing and paying bills online on their device of choice.
Providing services is just part of the equation, as Venture partners with its clients to go beyond simply executing services.
“We believe there are four key areas where we provide our clients the maximum benefit of our experience and expertise — optimization, composition, presentation and application,” Wilkes said.
Venture’s proven optimization processes, including data processing services, postal optimization assessment, data analysis and modeling, enhance client data to improve deliverability and increase ROI. The company’s composition services include comprehensive document design and development for both print and electronic delivery, as well as management of regulatory content to ensure the right content is delivered to each customer.
Venture’s applications include collaborative program and content management via its industry-leading Venture|access suite of online tools.
“Our Venture|access content management system saves clients time and money by providing the option to self-manage real-time content changes without programming assistance. Online job approval is more efficient by allowing clients to approve selected records for execution while deleting others,” Wilkes said.
With Venture|access mail tracking, clients can also view outbound and inbound delivery status for individual mail pieces, making cash flow projections more reliable.
“A key contributor to Venture’s long-term success is our culture of commitment to quality and a strong mortgage servicing market knowledge base. This foundation is complemented by the experience of the eSolutions team for the continually evolving eDelivery channels,” Wilkes said.
Looking ahead, Venture is well-positioned to service the increased customer demand for self-servicing options.
“Self-service via mobile devices is where we see the highest potential for cost savings for our clients. Venture continues to strategically invest in the technology, resources and people to improve management of complex business rules and changing regulatory content, as well as improve delivery workflows to drive accuracy and efficiency.”
Mark Wilkes has more than 30 years of experience in customer communications, marketing, client services and business development. As the vice president of strategic business development, Wilkes leads the business development, marketing and customer communications initiatives for Venture Solutions. Prior to joining Venture Solutions in 2010, Wilkes was vice president at GEM Group, as well as a founder of University.com.