LOAN SERVICING COMPANIES

Capability overview for Loan Servicing Companies

INTRODUCTION

The rise in sales to loan servicing companies

The Portfolio Purchase market has been developing the last few years in line with significant changes in the financial services market. Additional regulation and sub scale portfolios, with lower margins have all combined to force the sale of portfolios to specialist loan servicers.

As purchasers of loan books all loan purchase companies require a suitable system of record in order to manage and process account transactions. This will include the processing of payments, calculation of fees and interest, together with letter generation, all in compliance with regulations and contracts. Flexibility is key.

Regulatory Compliance

Advanced Technology

The Rise of Self-Serve

Loan Management

Regulatory oversight has been steadily increasing. Loan Purchasers need to ensure customers can afford repayments, fully understand the implications of not making payments whilst identifying and appropriately managing vulnerable customers.

There is now a requirement to not just to have controls in place but also to demonstrate and evidence the fact. This has undoubtedly increased the level of process monitoring and reporting required. Cost efficiency remains a focus in-order to maintain profitability.

With significant current regulatory focus businesses are continually assessing and developing forbearance strategies. There is continuous innovation in the industry and a flexibility to adapt and adopt best practices is a competitive advantage.

Remain compliant with QUALCO:

Stay in Control - Enable compliance and add control all whilst mitigating risk with robust control reporting and documentation tools

Flexible payment arrangements - Fully configurable rules to ensure everything matches payment policies and hierarchies

The right data, the right time in the right location for agents to optimise call handling times and reduce costs

Credit scoring and data modelling is actively used by loan purchasers to create good customer journeys with fair outcomes and optimise processes. Triggers for contact, settlements and strategies can all be improved. Data capture, often via self-serve, also provides a rich data stream enhancing customer contact (leveraging technology such as Omnichannel) and product innovation too. It enables testing and learning to optimise a process and data-based decision making.

A robust integrated collections system is a key enabler. QUALCO Collections and Recoveries platform is a modern, comprehensive, and flexible end-to-end platform designed to manage, automate, and streamline your organisation’s processes. With extensive experience in the Collections process QCR can be instrumental in helping design, run and control optimised collections and recoveries processes, all with the aim of enhancing profitability and minimising business effort and cost while realising early benefits.

How QUALCO helps:

Connect to different data streams for scoring and modelling to segment, identify key customer traits and classify accounts

Use pre-built modelling techniques to devise your own internal scoring with the ability to predict and forecast behaviour prior to implementation

Increase your understanding of the customer base with complete linkage and integration with our data specialist tool D3E

Manage cases in the legal process at a granular level in-house or via external 3rd Parties with data exchange and interfaces functionality

Cost efficiency as a key driver of profitability remains a focus in the sector and digital customer engagement is seen as a key enabler. Affordability (Income and Expenditure) in-particular is high touch process and a key target for digital automation. Allowing customers to self-serve by interacting with their preferred method is important as, the ability to capture data is improving service levels, especially when integrated with contact technologies and offering customisable channels.

Integration with field agents, solicitors, and asset managers, together with DCAs is becoming more and more common as such integration can be leveraged to automate workflows, streamline processes and capture compliance data.

Embedding self-serve technology within the collections system through seamless integration allows data to be used across the collections strategy. It also enables performance and control monitoring. This is key within the current environment with regulatory scrutiny to ensure affordability and customer fair treatment.

QUALCO can help with your digital first strategy:

Customisable digital channels allow customers to interact and self-serve through their preferred channels

Control and configure an automated I&E journey with set validation controls

3rd Parties interface with pre-defined processes and treatment paths to reduce costs and add controls

Platform fully integrated with Debtstream's self service portal for a seemless digital journey

Empowering lending operations with robust, flexible, and secure platforms is a key enabler for all organisations. Having the ability to introduce new products to market in a timely, cost-efficient and regulatory compliant manner is always a struggle with varying technologies and solutions requiring change to accommodate this.

QUALCO Loan Manager is a web-based loan administration platform specifically designed to be an end-to-end solution for loan management and servicing. The powerful functionality within the solution covers all stages of the loan lifecycle, including origination, front-load migration, modification, restructuring and rescheduling, whilst allowing you to manage performing and non-performing portfolios.

Supporting varying interest, charges and repayment structures across secured and unsecured consumer loans, small business loans, commercial real estate loans, and corporate loans (alongside other loan types). Creating, activating, and managing products are all within the easy-to-use business configuration and can be achieved through just a few clicks, allowing you to run your business and adjust to market changes quickly and efficiently.

Loan Manager reduces operational costs, allowing for fast deployment, and decreases time to market of product launch, which lets you rapidly service any lending portfolio.

QUALCO will Support your End-to-End Loan Portfolio:

Single point of loan servicing, including financial transactions and account management options

Enrich loan functionality for performing and non-performing loans with restructuring, rescheduling, interest billing and collection options

Simplifiy system integration with open and flexible architecture through APIs

Decrease time to market of new products and delivery of functionality

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OUR VALUE PROPOSITION

SOLUTION ECOSYSTEM

QUALCO’s technology ecosystem helps you leverage data to gain customer insights, understand account behaviours and flexibly drive effective collections strategies to stay in control. Use the latest tools and techniques to minimise losses, optimise cost whilst creating good customer journeys and outcomes.