Conduent and Servicing Solutions Working Together to Transform Loan Servicing

Rhea-AI Summary

Conduent (Nasdaq: CNDT) has partnered with Servicing Solutions to implement its Loan Manager application for consumer loan servicing. This SaaS solution aims to enhance efficiency for servicing operations, managing over 13 million loans and $120 billion in assets. Servicing Solutions chose Loan Manager for its cost-effectiveness and easy integration with existing systems. Both companies aim to improve customer experience through innovative technology and established best practices in the loan servicing industry.

Positive

• Conduent's Loan Manager now supports a new contract with Servicing Solutions.
• Servicing Solutions will enhance its loan servicing capabilities using Conduent's scalable SaaS application.
• Conduent manages over 13 million loans worth more than $120 billion, indicating strong market presence.

Negative

• None.

FLORHAM PARK, N.J., Sept. 21, 2020 (GLOBE NEWSWIRE) -- Conduent Incorporated (Nasdaq: CNDT) today announced that Servicing Solutions, a leading consumer loan servicing company, has selected Conduent’s Loan Manager loan servicing application services.

Under this new contract, Servicing Solutions will be utilizing Conduent’s Loan Manager SaaS offering to support their end-to-end loan servicing solution for consumer finance industry clients. Loan Manager is flexible, scalable and customizable and provides Servicing Solutions with a web-enabled platform to support their operating processes and third-party integration requirements.   

Conduent currently hosts more than 13 million loans and leases and manages more than $120 billion in consumer loan assets, helping lending clients enhance customer experience through efficient and improved usability. The solution is designed to assist loan servicing organizations of any size to streamline their operations, drive efficiency with intuitive interfaces and manage collections.

Servicing Solutions selected Loan Manager because of its cost-effectiveness, ease of use and simplicity to integrate into their existing systems. Conduent continues to make investments in technology solutions to improve business processes and customer experience, such as automated workflows and real-time posting.

“There is a significant growth opportunity in loan servicing for companies that can provide a differentiated, high quality customer experience,” said Louis Ochoa, president and CEO of Servicing Solutions. “By combining Conduent’s more than 30-years of experience in consumer finance solutions with Servicing Solutions’ focus on implementing best practices with new technologies, we can now offer our customers an innovative, integrated resource to manage the life of a consumer loan.”

“At Conduent, we have built long-term relationships with clients that have a similar vision and commitment to delivering the best and most innovative customer experiences in the market,” said Dharma Rajagopalan, Global Head, Business Operations Solutions at Conduent. “By working together, Servicing Solutions and Conduent can provide financial services clients with full service on a wide array of loan assets.”

About Conduent  
Conduent delivers mission-critical ​services and solutions on behalf of businesses and governments – creating exceptional outcomes for its clients and the millions of people who count on them. Through people, process and technology, Conduent solutions and services automate workflows, improve efficiencies, reduce costs and enable revenue growth. It’s why most Fortune 100 companies and over 500 government entities depend on Conduent every day to manage their essential interactions and move their operations forward. 

Conduent’s differentiated services and solutions improve experiences for millions of people every day, including two-thirds of all insured patients in the U.S., 11 million employees who use its HR Services, and nearly nine million people who travel through toll systems daily. Conduent’s solutions deliver exceptional outcomes for its clients including $17 billion in savings from medical bill review of workers compensation claims, up to 40% efficiency increase in HR operations, and up to 40% improvement in processing costs, while driving higher end-user satisfaction. Learn more at www.conduent.com. 

Media Contact:
Jennifer Wadsworth, Conduent, +1-678-488-2806
jennifer.wadsworth@conduent.com

Investor Relations Contacts:
Alan Katz, Conduent, +1-973-526-7173, alan.katz@conduent.com
Rebecca Koar, Conduent, +1-862-308-7105, rebecca.koar@conduent.com

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Conduent is a trademark of Conduent Incorporated in the United States and/or other countries.

FAQ

What did Conduent announce on September 21, 2020?

Conduent announced a partnership with Servicing Solutions to implement its Loan Manager application for loan servicing.

How does Conduent's Loan Manager benefit Servicing Solutions?

Loan Manager provides Servicing Solutions with a cost-effective and customizable platform that supports their loan servicing operations.

What is the market reach of Conduent's Loan Manager?

Conduent's Loan Manager currently manages over 13 million loans and $120 billion in consumer loan assets.

Why did Servicing Solutions choose Conduent's Loan Manager?

Servicing Solutions selected Loan Manager for its ease of use, flexibility, and seamless integration capabilities.

What are Conduent's goals with the new Loan Manager contract?

Conduent aims to enhance the customer experience and operational efficiency in the loan servicing industry through this partnership.