How we are inventing ways to use technology to create value
BSI Financial Services is digitally transforming financial services, providing lenders complete transparency into loan operations, servicing and condition, and borrowers access to technology to improve their choice and control in loan financing.
Our quality control auditors are incredibly detail-oriented and steeped in lending regulations and guidelines. Today, we complement their insight with an automated checklist that digitally scores and reports loan file exceptions and details the QC steps that were applied.
Digital scoring is based on a number of criteria, from government regulations to agency guidelines and business best practices. Scoring helps guide auditors to exceptions while providing clients a final checklist of what was addressed during QC.
Quality control audits are produced and delivered through BSI CARES, our configurable order management platform that ensures the efficiency and consistency of the QC process. Clients receive reports that detail exceptions at the Area of Accountability (AOA) level while meeting investor standards.
Digital scoring does not replace human judgment. But it does add a new level of integrity and transparency to the QC process.
When it comes to loans, numbers don't often tell the whole story. You may want to know what borrowers are saying and thinking. Who is speaking to whom and about what. What promises are made.
Each day we extract from our loan servicing platform servicing notes from conversations we have with borrowers and load them into BSI Asset360, our advanced analytics and reporting platform. These rich, loan-level notes cover all communication between BSI Financial and borrowers as well as conversations with our collection and foreclosure attorneys.
You can access these comments using powerful search and sorting features, including keyword searching, to gain rich insight into collections history and loan status. You can meet your surveillance requirements or perform loan due diligence from the convenience of your location simply by logging in to BSI Asset360, 24 hours a day, 365 days a year.
You can download full comment history to Excel. Soon, you will be able to perform searches across an entire portfolio.
Every loan has a unique story. We put it into words for you.
We use ePresentment to deliver information that is digitally tailored to individual borrowers. Communication is more timely because we eliminate the delays in postal mail. We can produce statements and announcements that borrowers can view on any electronic platform.
Borrowers can engage when they want and how they want. And our lender clients now have a new channel for marketing to their borrowers. It's a marriage made in heaven.
Enhancing the borrower's online experience is core to our mission of helping our clients form lasting relationships with their customers. We are improving information liquidity to create a more personalized relationship and to provide borrowers choice and control.
To our way of thinking, ePresentment is more than technology; it's a strategy. And a way to build lasting relationships.
It doesn’t hurt that it we're making our planet a little greener.
We cast a big net when it comes to finding exceptions in loans we on-board and service. Using a “big data” approach to managing quality, we perform daily exception-based analysis of every loan we service using more than 600 business rules applied to 10,000 loan-level data elements that are updated each day.
Nothing slips through the net thanks to BSI ASSET360™, our proprietary life-of-loan decisioning and loan management platform. It's RegTech that enables us to examine every loan every day for imperfections in documentation and condition before they become problems. Reports produced by ASSET360 are used in compliance testing, exception reporting and data integrity management.
By zeroing in on loans with potential performance, compliance or customer documentation issues, we are working smarter to manage operating risk and improve loan quality. We accomplish more and spend less, which delights our clients.
The Big Idea
Exception processing is a smarter way to manage quality.
Tell your Account Manager you would like to sign up for BSI ASSET360.
Each day we load 10,000 data elements that pertain to every loan we service into BSI Asset360, our advanced analytics and reporting platform. This gives us unparalleled visibility into loan status, condition and performance.
Asset360 isRegTech, part of a new breed of information technology that enhances efficiency and creates transparency. Using predictive and rules-based analytics, it enables us to identify issues before they become problems, presenting us a granular view of the portfolio down to the loan level.
Using Asset360, our clients see the forest and the trees. They can view the current status of any loan in their portfolio. They can track loan workouts, including dates and milestones. With the help of Asset360, the discussions we have with clients are not only about loan status, but the steps we can take to improve it.
RegTech unmasks risk. Asset360 is RegTech that powers a cycle of continuous improvement to reduce risk and improve ROI. It's working smart, not hard.
The Big Idea
Transparency enabled by technology creates choice and control.
The digital era has redefined us: we are all technologists now. We have heightened expectations for the way things work. We demand speed, convenience and performance. We seek the digital experience.
We recently launched our own borrower portal to deliver a digital experience to borrowers whose loans we service. Owning the technology enables us to evolve it at a faster pace, meeting the demands for speed, convenience and performance. It also inspires innovation because we have a commanding view of how borrowers engage technology.
Lenders benefit because we can tailor the portal so it looks like it is their own technology. This makes us a valuable partner in their quest to deliver a digital experience for their borrowers.
The business case backing our decision to invent rather than rent is that we can affect borrower satisfaction and engagement and foster greater customer loyalty. Our portal offers a variety of self-serve functions, including the ability to review electronic loan statements, schedule payments and even submit a financial hardship package.
All of this contributes to faster and more efficient processing and lower operating risk. And who doesn't want that?
The Big Idea
Owning the technology enables us to fast-track the digital experience.