Mortgages

Capability overview for Mortgages

introduction

CUSTOMER-CENTRIC MORTGAGE LENDING COLLECTIONS

The mortgage market has undergone considerable change in the last few years. With growth in areas such as Buy to Let and Help to Buy schemes, new competition increased, with some sectors such as business loans, falling outside consumer regulation seeing considerable growth. Increased regulation has added a requirement to manage the cost to serve while demonstrating adequate control measures and having robust processes and policies in place.

Technology has also quickly become a key enabler to drive flexibility over change, create customer centric journey’s and leverage automation, driving efficiency and effectiveness in collection.

QUALCO helps Mortgage Lenders deliver better services with measurable benefit:

Configurable system supporting agile change
Design and Control Customer Contact Journeys
Deliver optimal solutions for you and your customers
Allow customers to self-serve digitally with seamless digital integration
Compliance and control built in

Strict regulatory requirements

Data-driven process

The rise of self-serve

With strict regulatory requirements, customers facing financial difficulties need to be treated fairly, provided with help and repossession used only as a final resort. All prescribed steps must be followed with compliance and control requirements extremely high.

There is now a need to not only ensure control measures are in place but also to demonstrate and evidence these are followed. The burden of regulatory compliance has added cost to many businesses, with companies seeking efficiencies, automation and flexibility for process optimisation to help maintain profitability.

Help managing compliance with QUALCO:

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

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

Manage the legal processes –Take advantage of pre-defined processes and treatment paths to reduce legal costs and add controls

With a focus on creating good customer journeys with fair outcomes, lenders are continuously optimising processes and offering new solutions for customers in arrears. Driving this development is the exploding use of data and modelling. This is being used to optimise contact times, channels, and segments in collections to generate better, more efficient outcomes.

Simulation and testing of different scoring and decisioning components have also become more common with tools such as champion challenger being used to determine optimal strategies.

Incorporating data, data handling, modelling and insight are areas of high demand and high return to drive process improvement.

Use QUALCO to optimise your processes:

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 your customer base with our data handling capability, linkage and integration

Cost efficiency as a key driver of profitability remains a focus and digital strategy a key element within this. Self-serve and the ability to capture data is enabling enhanced levels of service, especially when integrated with technologies such as omni contact channels, in addition to reducing cost. Affordability (Income and Expenditure) in particular is a target for digital serve self-automation.

This is also extending into the recoveries processes, integration with field agents, solicitors, and asset managers, together with DCAs for shortfall recoveries, all of which can now leverage automated workflows to streamline processes and capture compliance data.

All of these adds complexity, especially with regulatory compliance requirements and modern collections systems are being turned to for help. Having each of these processes embedded within Qualco’s collections system would allow data to be used within the collections strategy and for performance to be truly monitored.

QUALCO can help with your digital first strategy:

Determine the best outcomes from customers’ affordability and circumstances

Allow customers to interact and self-serve through preferred channels

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

Manage legal cases via external 3rd Parties with data exchange and interface 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.

ENABLES MORTGAGE PROVIDERS TO: