Help financially stressed customers
in minutes with intelligent automation.
Webinar: Outperform your loss provisions: Increase recoveries through loan restructuring
With $427 billion of loan loss charges predicted for 58 US banks over a three year period, modeling loss projections in a pandemic is largely based on macroeconomic factors with no visibility to the duration or recovery.
So what can lenders do within their control? Join us to discuss three key strategies to reduce charge-offs, increase recoveries and drop net credit losses in order to drive loss savings. Discussion includes game-changing approaches to restructuring consumer and auto debt.
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Dan, our charming chat bot, crafts the right relief option for each customer's situation, relying on real-time, open bank data and investor policy. Loan modifications, recasts and workout options are his specialty.
The Constant+ Platform.
The brain behind our bot-driven solutions is the Constant+ platform. All of our CARE modules offer end-to-end, automated loan restructuring along with workout options like short sale and deed-in-lieu of foreclosure for MortgageCare. Our platform integrates with LOS or collections platforms quickly via API.
Hardship relief built for the 21st Century.
Constant's predictive insights and automated relief options get borrowers paying faster.
ABILITY TO PAY ANALYSIS
With COVID-19, what's happening now, not 30 days ago, determines ability to pay.
Lots of data and intelligent automation take the guesswork out of which relief options to offer.
People are expensive. Manual processes are prone to errors and don't scale well.
Weeks or months is too long for a loan modification or workout. Borrowers expect fast results.
Out with the old.
Manual, paper-based approaches result in payment interruptions and drag down returns.
LOAN MODIFICATIONS ARE EXPENSIVE.
Loss mitigation efforts are very manual and usually reserved for high dollar loans like mortgages. Applying this strategy to troubled, lower dollar or unsecured debt is too costly and is not scalable - until now.
OLD DATA LEADS TO FLAWED SOLUTIONS.
Without a real-time snapshot of financial stress, relief options won't be right-sized. Using lagging indicators like bureau data to predict default is more likely to lead to re-defaults and higher collection costs.
PEOPLE MAKE MISTAKES.
People are a valuable and necessary expense in servicing. But they make mistakes. Errors can impact entire portfolios, create a drag on returns, and cause compliance headaches.
BORROWERS WANT ANSWERS FAST.
Nearly everything is automated today, and borrowers want answers fast. Paper applications, lengthy wait times and redundant calls frustrate people and perpetuate the risk of default.
In with the new.
Always on, constantly crunching real-time customer data, AI Dan makes offering hardship relief at all stages a breeze.
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