The explosion of digital streamlining in the mortgage industry has mainly targeted originations, so servicers are hungry for meaningful innovation at the root level of their operations. Sagent’s Chief Technology Officer Uday Devalla sat down with HousingWire’s Sarah Wheeler to discuss how his team — along with Sagent’s data-driven and borrower-focused approach to servicing — will transform the industry.
Sarah kicked off the interview inquiring about what led Uday to join Sagent.
What attracted me here is primarily an opportunity to transform the servicing industry because while we’ve seen a lot of transformation on the origination side, nothing has really changed on the servicing side. And at Sagent, we have an opportunity to do that. So we’re focused on this new platform that is making the whole experience more borrower-centric with automation and AI.
Uday goes on to explain the foundation for Sagent’s approach to its new end-to-end servicing technology data approach.
We start with data because ultimately, data is the foundation for everything else. And one of the biggest drivers for what we’re doing is end-to-end data.
If your [data] sources are not good, then even if you try to build a large data warehouse or large platform, you will have a lot of challenges with data. And that’s what we are addressing: we are ensuring that the source data, from an end-to-end servicing perspective, is immediately available for our customers.
As with any ongoing project in the tech world, AI has played a major role in the development of new features. Uday broke down for HousingWire how Sagent is currently leveraging AI and the role he sees for generative AI in servicing:
We’ve been using AI for a while now in terms of predictive modeling and we have a really sophisticated platform for document classification and extraction of data and so on, that is performing very, very well at scale.
From a use-case perspective, we want to use [generative AI] for two things. One is definitely to make the consumer experience better in terms of handling some service requests, and to guide the consumer to whatever is needed on their side. And then two is to increase the efficiency of the operators by using generative AI to provide them the right assets at the right time. So, they can go faster and bring down call resolution times.
Uday then took a moment to shout out the powerful, modern technology Sagent provides to its customers.
We support more than 40 servicers in the industry and our platform handles billions in payments on a monthly basis. And as we are focused on the transformation of the industry, I think a lot of people don’t realize that the tech that we are building into the platform is very, very sophisticated. It’s highly scalable, in terms of making open APIs to our customers, and there’s a lot of modern tech that we are enabling to our customers.
To end the interview, HousingWire asked Uday about how Sagent promotes innovation as part of the company’s culture.
We think of ourselves as a fintech, so we have smaller teams and decision-making is not necessarily centralized… We empower our teams to focus on consumers and address the needs of our customers’ consumers first before we do anything else — and that is pervasive across the whole organization.
Check out the full HousingWire piece here: Sagent CTO Uday Devalla on how to transform servicing – HousingWire