Below you'll find a list of all posts that have been categorized as “Servicing Systems”
Credit unions want to offer their members exceptional lending services. That’s tough to do when member expectations rise every year. As more lending technology and lending options become available, credit union members expect a lot from their local branches.
Many lenders are getting out of the loan servicing business altogether because it’s too difficult and costly to manage. This is why modern lenders are embracing a better alternative: Third-party loan servicing companies.
If you’re looking to improve your customer service specifically, here are just a few of the back office tasks you can delegate to an experienced third party:
Fraud detection and risk management;
Payment processing and repayment scheduling;
Member contact information and communication preferences;
Loan or credit card application decisioning;
Level 1 support;
Customer web portals;
Automated call centers;
Back office to front office communications;
Staff training and recruitment.
Lending and leasing for vehicles can involve remarketing off-lease and repossessed vehicles. At the end of those contracts, many community banks simply want to obtain maximum value for the pre-owned vehicles in the most efficient manner.
As you begin the process of evaluating lease management service providers, use this concise list of attributes and capabilities to assess their qualifications.
With leases being a significant portion of the new vehicle market, dealers and lenders are looking for the most efficient ways to manage lease services. Many have reached the conclusion that an auto lease servicing provider is best suited to handle post-funding lease management.
As you begin the process of evaluating lease management service providers, use this concise list of attributes and capabilities to assess their qualifications.
The big loan management software trends for 2020 focus on achieving two major goals: Reducing risk and identifying new lending opportunities. The ability to use data to support both goals needs will determine lending success in the new year and beyond.
by Brandy Bissett If the movie “Big” has taught us anything, it’s that growing overnight, especially when you’re not ready …
