While digital-first transformation in the pandemic and post-pandemic years has evolved both business processes and consumer expectations, when it comes to customer experience, most agree that automation can’t replace human connection. In the mortgage industry, where building relationships with customers is essential to long-term satisfaction and, by extension, customer retention, the need for a personal touch is vital.
Striking the right balance between efficient automation and solid customer service is a challenge throughout the mortgage industry, but this is where Sagent excels. Sagent’s consumer loan servicing platform, CARE (which stands for Customer Attention, Retention and Engagement), couldn’t be more named more appropriately.
The purpose and mission of CARE are in the name. The platform aims to care for and retain customers through good times and bad, provide real-time views of home equity, make custom loan offers, and offer immediate hardship help from any device. Designed for consumers and built for enterprise, CARE is comprised of three essential components.
- CARE Loan Servicing gives customers the power to self-serve when it comes to managing their mortgage or non-mortgage loans. Borrowers can manage payments and escrows, find savings, and engage with servicers on the same device they use for shopping, chatting or playing their favorite game — and with the same ease and simplicity.
- With CARE Customer Service, servicers work within the same UI/UX as customers and can co-pilot to resolve customer needs with real-time secure messaging and doc/data sharing.
- Lastly, CARE API Marketplace is an API platform that lets servicers incorporate their CARE servicing tools with the rest of the consumer experience.
While all three components of CARE have distinct purposes, they combine to bring the same modern experience borrowers get in the origination space to servicing, where customer relationships are tactfully managed and grown over the decades-long loan lifecycle.
As a cloud-native consumer-servicing platform that is continuously updated, CARE is designed to meet the evolving needs of homeowners. The platform also focuses on delivering a configurable interface for servicers, providing them the ability to brand the platform as their own.
Sagent CARE solves both engagement and retention issues by creating a continuous servicing-to-origination loop through responsibly using borrower data. This game-changing loop works in two essential ways:
- First, CARE seamlessly links servicers’ customer support teams to the homeowner experience.
- Second, CARE uses bi-directional data sharing between homeowner-facing products (like CARE) and servicing and default systems (like Sagent’s LoanServ and Tempo) so the homeowner and enterprise experiences are always connected – and always informed by each individual homeowner’s data in real-time.
In an era where the CFPB is pushing for servicers to improve call center response times, increase data on key metrics, and proactively promote options to borrowers — especially during hardships — Sagent brings a configurable solution to the table that keeps up with regulatory changes and shifting policy demands in order to remain compliant.
As flexible mortgage fintech grows in importance, Sagent continues to highlight its ability to combine automation with real-time access to human support with Sagent’s consumer loan servicing platform, CARE.