Fairstone Financial Inc. Extends Five-Year Partnership with Sagent Software to Boost Personal Loan Offerings
KING OF PRUSSIA, Pa.–(BUSINESS WIRE)–Sagent, a fintech company that modernizes mortgage and consumer lending services for North America’s largest banks and lenders, today announced a five-year partnership extension with Fairstone Financial Inc. (“Fairstone”) to continue to propel its ecosystem of personal loan services. This is the latest in a series of recent deals for Sagent aimed at transforming the consumer borrower experience for financial organizations serving millions of consumers with trillions in mortgage balances.
Fairstone will continue to drive maintenance operations at scale using Sagent’s cloud-based LoanServ registration system. Fairstone currently uses the agile and highly configurable LoanServ platform to deliver a better customer experience and adapt in real time to ever-changing customer and regulatory needs.
“Fairstone is proud to partner with Sagent as we set the standard for personal loan customer experience for our customers,” said Francois Pigeon, Chief Technology Officer at Fairstone. “With Sagent, we can redefine loan cycles based on each customer’s needs, iterate faster to deliver personalized experiences, and continue to build meaningful relationships with our customers.”
Sagent will continue to power Fairstone’s best-in-class consumer loan service experience by automating complex, high-volume tasks and workflows. By using Sagent technology to consolidate its installment loan technology stack, Fairstone simplifies complex financial transactions for customers by enabling customer service teams to manage rapid results in a single call.
“Establishing services for consumer loans with scale compliance, reporting and real-time payments is critical to happy borrowers,” said Dan Sogorka, CEO of Sagent. “Sagent is the only platform at scale that powers all aspects of loan servicing for trillions of dollars in outstanding mortgage and consumer loan balances. We are honored to build on our partnership with Fairstone and continue to work together to exceed the expectations of investors, auditors, regulators and borrowers.
As the housing industry’s modernized, consumer-focused loan management system, Sagent enables America’s leading bank and non-bank lenders to engage, care for, and retain millions of consumer borrowers with trillions outstanding loan balances.
This is the latest in a series of new and renewal customer announcements from Sagent, including most recently Clearview Federal Credit Union, Freedom Mortgage, Mr. Cooper and Gateway First Bank.
Sagent enables leading US bank and non-bank lenders to engage, care for, retain and modernize the homeownership experience for millions of borrowers. Service agents use our flexible, scalable, and configurable solutions to engage borrowers and build customer loyalty, reduce service costs, ensure compliance, and increase the value of service entitlements throughout full market cycles. Sagent is backed by Warburg Pincus, one of the world’s leading private equity investors, and powers trillions in exceptional mortgage services for its clients. Visit sage.com to learn more.
About Fairstone Financial, Inc.
Fairstone Financial is one of Canada’s leading providers of responsible credit solutions, with nearly 100 years of history. Fairstone is an operating subsidiary of Duo Bank of Canada and together it has more than 1.5 million customers and $5 billion in assets on a consolidated basis. With nearly 1,500 employees nationwide, the combined entity provides services across two business lines. The direct lending business provides prime customers with unsecured personal loans, secured personal loans, mortgages and optional ancillary products such as consumer credit insurance online and at more than 240 branches in a coast to coast. Indirect Lending business includes credit cards, rewards programs, retail point-of-sale (“POS”) financing through merchants, automotive and powersports through dealerships . Fairstone Financial has again been named one of Montreal’s Top Employers for 2022.
For more information: www.fairstone.ca