Sagent’s CARE platform sets the tone for the modernization of customer-centric maintenance
Consumer-First Servicing Modernization: The service spans most of a customer’s credit life cycle, and Sagent CARE brings the same modern experience borrowers get in origination to the service where lifelong customer relationships are managed and developed. Borrowers can manage loans from any device and get instant help in emergency situations. And service teams can always help using the same user interface as consumers. This will help servicers improve retention rates, which were reported to be just 21% in the June 2021 MBA’s Servicing Operations Study.
The Sagent CARE platform consists of four components:
CARE loan service – Allows customers to self-service in the execution of loans anytime anywhere. Borrowers can manage payments and fiduciary transactions, find savings, and stay in touch with service providers.
CARE loss reduction – Allows customers to self-service bad loans anytime, anywhere. Borrowers can manage all kinds of hardship cycles from inquiry to resolution from any device.
CARE customer service – Empower servicers to assist borrowers with the same UI / UX borrowers, take over when they need help, and quickly resolve customer needs with secure, real-time messaging and document / data sharing.
CARE API Marketplace – API platform that service agents can use to align their CARE service tools with the rest of their customer experience.
Sagent CARE sets the tone for consumer maintenance modernization for three reasons:
Keep strong borrowers looking for savings, new home, new loans, debt consolidation, and other advice. Stabilize troubled borrowers who need immediate emergency assistance, from inquiry to resolution.
Seamlessly connect service teams to the customer experience so customers can get instant human help with fast, relevant results.
Two-way data exchange in real time so that the customer experience and the company’s service systems are always connected.
Some of the CARE features that borrowers love include: Modern experience from any device, payments in seconds, easy execution of complex payments from multiple sources, quick forbearance and credit modification requests with pre-filled forms, consumer-friendly decision results for a clear resolution of hardship cases and real-time access to human help.
The CARE features that service reps love include: Easily configurable for custom policies, procedures, customer experience; Ability to brand CARE as your own; Mobile-first, omnichannel design; Real-time data exchange with maintenance and standard recording systems; supports complex mortgage and non-mortgage loans; supports centralized CSR teams or distributed offices and sub-servicers with the same UX as (and co-piloting for) consumers.
Real-time configuration for real-time compliance: Sagent CARE as well as Sagent’s maintenance and standard recording systems, LoanServ and Tempo, are fully configurable at the smallest level to ensure that servicers comply with real-time market and regulatory changes in real time. This is particularly critical – and battle-tested – In today’s COVID recovery era, where the rules and regulations of regulators, GSE and Wall Street are changing in real time.
Product snapshot: CARE is Sagent’s consumer platform that combines a modern bank-on-your-phone experience for borrowers with seamless human support from the service providers. Borrowers can manage payments and fiduciary transactions, as well as monitor home equity, new offers, and tax matters. You can also act quickly and resolve difficulties.