Earlier this year, Fiserv sold more than half of its mortgage servicing business to private equity firm Warburg Pincus for $395 million.
The plan was for the companies to operate the servicing business, called Fiserv Lending Solutions, as a joint venture.
And that’s still the case, although the joint venture won’t carry Fiserv’s name anymore.
The companies announced this week that the joint venture will now be known as Sagent Lending Technologies.
According to the company, the name “Sagent” comes from combining “sage” and “agent.”
Here’s how the company explains the decision to go with Sagent as its name:
Sage refers to the three decades of experience helping lenders grow and highlights its associates’ expertise. The word agent highlights its goal to act as an agent of change and growth within the lending industry. The company’s sage leaf icon represents growth and new opportunities and the two halves of the whole leaf symbolize the seamless joining together of the company with its clients. With its new corporate identity, Sagent Lending Technologies has introduced the tagline “grow wisely.”
The company will continue to operate its automotive loan origination and servicing products as well as its LoanServ mortgage and consumer loan servicing platform, just under a new name.
“With a refreshed brand identity that highlights our differentiated approach and a dedication to our clients, we are positioned to grow and take on any challenge,” Bret Leech, CEO of Sagent Lending Technologies, said.
“Both lender needs and borrower expectations are evolving rapidly so we are investing in our technology to keep our clients several steps ahead of their competition,” Leech added. “Sagent Lending Technologies delivers innovative ways to make the lending experience better for everyone, with solutions that cater to our clients’ unique business needs. Sagent is there to help our clients deliver on their brand promises.”