Integritas Solutions has launched LPORS, which is a cloud-hosted loan payoff request platform.
FREMONT, CA: Integritas Solutions, a Georgia-based technology solutions company, has launched LPORS, which is a cloud-hosted loan payoff request platform. The platform helps the financial institutions offer its clients seamless customer experience (CX) during the loan payoff request process. The solution even assimilates with the financial institutions' online and mobile banking platforms, allowing clients to enjoy self-service convenience.
"Today's borrowers expect speed and convenience for customer service interactions like loan payoff requests from their financial institution," says Jeremy Poole, Integritas Solutions Sr Account Manager. "Unfortunately, a lot of financial institutions still fall short in meeting these expectations because they still process these requests manually."
Compared with the prompt services that the clients enjoy while using mobile banking, several banks and other financial providers need their customers to either submit an online form or call the contact center to receive a loan payoff letter. The procedure can be excruciatingly slow, according to Poole.
With the help of LPORS, borrowers can auto-generate the loan payoff statements in only a few minutes. The clients can choose their target payoff date, and the platform can analyze the estimated total payoff amount, factoring in the interest and fees necessary for the payoff. Then, the LPORS delivers the loan payoff statement promptly through email, fax, or print whichever channel the customer selects.
According to Poole, its fast, convenient, and can decrease financial institutions' expense for every loan by 25 percent or more. Furthermore, in only 90 days, the LPORS solution can assimilate with a financial institution online and mobile banking platforms producing payoff letters from any loan servicing system.
This is where the savings start to add up because when the borrowers start utilizing 24/7 availability, call center and loan servicing personnel will spend less time handling loan payoff phone requests and manually processing the forms. Therefore, these employees can focus on more complicated customer problems than they formerly would spend on routine requests.