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Press release content from Business Wire. The AP news staff was not involved in its creation.
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Press release content from Business Wire. The AP news staff was not involved in its creation.

Fairstone Financial Inc. Extends Sagent Software Partnership Five Years to Power its Personal Loans Offerings

May 17, 2022 GMT

KING OF PRUSSIA, Pa.--(BUSINESS WIRE)--May 17, 2022--

Sagent, a fintech company modernizing mortgage and consumer loan servicing for North America’s top banks and lenders, today announced a five-year partnership extension with Fairstone Financial Inc. (“Fairstone”) to continue powering its personal loan servicing ecosystem. This is the latest in a series of recent deals for Sagent to transform the consumer borrower experience for financial organisations servicing millions of consumers with trillions in mortgage balances.

Fairstone will continue to drive scale servicing operations using Sagent’s cloud-based LoanServ system of record. Fairstone currently uses the nimble, highly configurable LoanServ platform to deliver a better customer experience and adjust in real-time to constantly evolving customer and regulatory needs.

“Fairstone is proud to partner with Sagent as we set the standard for the 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 individual customer’s needs, iterate more quickly on providing tailored experiences, and continue on building meaningful relationships with our customers.”

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Sagent will continue to power Fairstone’s industry-best consumer loan servicing experience by automating complex, high-volume tasks and workflows. By using Sagent technology to consolidate its installment loan tech stack, Fairstone simplifies complex financial transactions for customers by enabling customer service teams to manage quick, “one-call” outcomes.

“Powering servicing for consumer loans with 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 powers every aspect of loan servicing for trillions of dollars in outstanding balances for both mortgage and consumer loans. We’re honored to build on our partnership with Fairstone and keep working together to exceed investor, auditor, regulator, and borrower expectations.”

As the housing industry’s modernized, consumer-first loan servicing system of record, Sagent powers America’s top bank and nonbank lenders to engage, care for, 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.

About Sagent

Sagent powers America’s top bank and nonbank lenders to engage, care for, retain, and modernize the homeownership experience for millions of borrowers. Servicers use our flexible, scalable, and configurable solutions to engage borrowers and earn customer loyalty, lower servicing costs, ensure compliance, and increase the value of servicing rights throughout full market cycles. Sagent is backed by Warburg Pincus, one of the world’s leading private equity investors, and powers trillions in outstanding mortgage servicing for its customers. Visit sagent.com to learn more.

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About Fairstone Financial, Inc.

Fairstone is a leading Canadian provider of responsible lending solutions, with close to a 100-year history. Fairstone is an operating subsidiary of Duo Bank of Canada and, combined, have over 1.5 million customers and $5 billion in assets on a consolidated basis. With nearly 1,500 employees nationally, the combined entity provides services through two business lines. The Direct Lending business offers near-prime customers unsecured personal loans, secured personal loans, mortgages and optional ancillary products such as creditor insurance to consumers online and in over 240 branches from coast to coast. The Indirect Lending business encompasses credit cards, rewards programs, retail point-of-sale (“POS”) financing through merchants, automobile and power sports through dealerships. Fairstone has again been named one of Montreal’s top employers for 2022.

More at: www.fairstone.ca

View source version on businesswire.com:https://www.businesswire.com/news/home/20220517005876/en/

CONTACT: Fairstone Financial Inc. Contact:

Caroline Morin

Vice President, Corporate Communications

media@fairstone.ca

+1 833-461-2900Sagent Contact:

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Chelsea Mize

Director of Marketing

chelsea.mize@sagent.com

(208) 220-4654

KEYWORD: UNITED STATES NORTH AMERICA CANADA PENNSYLVANIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES TECHNOLOGY OTHER TECHNOLOGY SOFTWARE FINANCE BANKING

SOURCE: Sagent

Copyright Business Wire 2022.

PUB: 05/17/2022 09:39 AM/DISC: 05/17/2022 09:39 AM

http://www.businesswire.com/news/home/20220517005876/en