Deal enables Canada’s leading credit solutions provider to continue to pursue its consumer-centric vision
KING OF PRUSSIA, Pennsylvania–(BUSINESS WIRE)–#fintech—Sagent, a fintech company transforming the way mortgage and consumer loans are serviced for North America’s leading banks and lenders, today announced a five-year extension of its partnership with Fairstone Financial Inc. (“Fairstone”) to extend its service ecosystem of personal loans. This is the latest in a series of recent agreements for Sagent to transform the borrower experience for financial companies that serve millions of consumers with trillions of dollars in mortgage loans.
Fairstone will continue to drive scale servicing operations using Sagent’s cloud-based LoanServ system of record. Fairstone currently leverages the flexible, highly configurable LoanServ platform to provide a better customer experience and adapt in real-time to ever-changing customer and regulatory requirements.
“Fairstone is proud to partner with Sagent as we set the standard for our customers’ personal loan experience,” said Francois Pigeon, Fairstone’s chief technology officer. “With Sagent, we can redefine credit cycles based on each customer’s needs, iterate faster to deliver tailored experiences, and continue to build meaningful relationships with our customers.”
Sagent will continue to advance Fairstone’s industry-leading customer credit service experience by automating complex, high-volume tasks and workflows. By using Sagent technology to consolidate its personal loan tech stack, Fairstone simplifies complex financial transactions for clients by enabling customer service teams to manage rapid “one-call” results.
“Supporting consumer loan management with on-scale compliance, reporting and real-time payments is critical to borrower satisfaction,” said Dan Sogorka, CEO at Sagent. “Sagent is the only scale platform that supports every aspect of loan management for trillions of dollars in outstanding balances for both mortgage and consumer loans. 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 home industry’s modernized, customer-centric loan management system, Sagent enables America’s leading bank and non-bank lenders to engage, service and retain millions of consumer borrowers with trillions in outstanding loan balances.
This is the latest in a series of new customer and renewal announcements from Sagent, most recently including Clearview Federal Credit Union, Freedom Mortgage, Mr. Cooper and Gateway First Bank.
Sagent helps America’s leading bank and non-bank lenders engage, nurture, sustain and modernize the homeownership experience for millions of borrowers. Service providers leverage our flexible, scalable, and configurable solutions to attract and retain borrowers, reduce maintenance costs, ensure compliance, and increase the value of maintenance rights throughout full market cycles. Backed by Warburg Pincus, one of the world’s leading private equity investors, Sagent provides trillions in outstanding mortgage services to its clients. Visit sagent.com to learn more.
About Fairstone Financial, Inc.
Fairstone is a leading Canadian provider of responsible lending solutions with nearly 100 years of history. Fairstone is an operating subsidiary of Duo Bank of Canada and has over 1.5 million combined customers and $5 billion in assets on a consolidated basis. With nearly 1,500 employees nationwide, the combined company offers services in two lines of business. The direct lending business provides consumers with unsecured personal loans, secured personal loans, mortgages and optional ancillary products such as credit insurance for customers with near-premium benefits through more than 240 branches coast-to-coast. Indirect lending businesses include credit cards, rewards programs, retail point-of-sale (“POS”) dealer financing, automotive and competitive sports through dealers. Fairstone has again been named one of Montreal’s Top Places to Work for 2022.
More at: www.fairstone.ca
Fairstone Financial Inc. Contact:
Vice President, Corporate Communications