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Luxoft EarlyResolution Default Management software

EarlyResolution™ is the industry-leading default management solution, utilized for all consumer loan types.

Take advantage of intelligent technology to enhance the entire default management process. With a proven 15-years track record, EarlyResolution manages all aspects of default, from initial customer contact, through collections, and downstream until resolution.

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Modern challenges in consumer lending

 

Consumer loan servicers face high costs, rapid business change, and inflexible legacy technology, all while trying to focus on providing an exceptional borrower experience. Disparate, disconnected systems lead to many inefficiencies without a single source of truth, not to mention the eternal cloud/on-premises question, relentless consumer protection regulations, and massive cost pressures due to shrinking margins. 

This leads to serious inefficiencies and long wait times in an era when clients expect service to be fast.

 

Auto loan servicers are facing similar challenges.

 

Auto loan servicers strive to streamline their processes, reduce manual intervention, and improve efficiency to overcome these challenges and enhance operational control, reporting, and audit trails. By implementing modern technology and centralized toolsets, auto loan servicers can also improve the overall borrower experience. 

 

Luxoft’s Solution – EarlyResolution

 

EarlyResolution is designed to address challenges across various loan types, providing a comprehensive approach to streamline the entire loan-default process. It achieves this by automating essential collection scripting, enhancing customer engagement, and optimizing downstream activities. Offered as a Software-as-a-Service (SaaS) package, EarlyResolution is designed to support loan servicers in ensuring regulatory compliance, mitigating credit risk, and ultimately aiding borrowers encountering financial difficulties, across various loan types.

Early Resolution is one single source of truth for all resolution stakeholders. 

Experience the transformative power of Early Resolution software as it automates the entire loan default process, revolutionizing efficiency and productivity 

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EarlyResolution™ borrower portal means better business outcomes

Luxoft’s state-of-the-art software solution engineered exclusively for loan-servicing companies

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EarlyResolution™ streamlines auto-loan default management

EarlyResolution’s Software as-a-Service (SaaS) is a leading default management platform for the auto loan servicing industry

The Luxoft EarlyResolution Advantage

Why choose EarlyResolution

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Proven record of success

EarlyResolution has a 15-year track record as an enterprise-class decisioning engine. Our solution is proven to reduce default operations costs and credit losses.

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Cost efficiency

Self-service borrower portal totally substitutes the call center, minimizing waiting times and eliminating the need for temporary staff during volume spikes.

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Regulatory compliance

EarlyResolution maintains consistency and expertise, minimizing the risk of regulatory breaches and associated fines.

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Unified loan management

A single platform handles various debt types (mortgage, auto, personal), streamlining the lender's technology infrastructure and reducing costs.

 

Key figures

20+

technology partners

750,000

workout decisions run each year 

25% – 30%

savings in call-management cycles

30% – 50%

workflow lift in resource and efficiency gains

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Consult one of our global strategists today!

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The future of default management

Mortgage servicers today are adopting technologies that will transform their operations by leveraging more automation, customer personalization and efficiency. 

To learn more read the article — Digital default management. 

Transform your business now

Our consumer lending platform automates the entire loan default management process from initial contact through underwriting and settlement 

 

News and insights

React to critical change quickly with EarlyResolution

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React to critical change quickly with EarlyResolution

How does EarlyResolution relieve regulatory pressure on loan servicers?

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How does EarlyResolution relieve regulatory pressure on loan servicers?

See more insights

 

FAQ

EarlyResolution™ is a default management automation solution that streamlines the loan-default process by automating various tasks, such as core collection scripting, customer service, short sale, loss mitigation, and foreclosure activities. This Software-as-a-Service (SaaS) package is designed to assist servicers in maintaining compliance with regulations, managing credit risk, and meeting investor requirements. The underwriting feature incorporates investor rules aligned with management and regulatory guidance for retention and liquidation workouts.

Choosing EarlyResolution as a lending solution is a strategic decision backed by a multitude of compelling reasons:

  • Proven record:
    With a remarkable 15-year track record as an enterprise-class decisioning engine, EarlyResolution stands out for its consistent success in reducing default operations costs and credit losses. This established history underscores its reliability and effectiveness in optimizing lending processes.
  • Highly scalable and secure architecture:
    The solution's architecture is not only highly scalable but also designed to maintain robust security. This ensures that servicers can easily adapt to regulatory and compliance changes without the need for extensive alterations to the software code. The agility of the system allows financial institutions to add or modify functionalities swiftly, within days or weeks, providing a level of responsiveness crucial in today's dynamic financial landscape. 
  • Alignment with industry demands:
    EarlyResolution is not a static solution; it has been crafted in response to industry demands. Regular updates are part of its DNA, ensuring that it evolves to meet changing business needs. The close collaboration with industry stakeholders ensures that the solution remains aligned with the latest industry standards and practices.
  • Knowledge and expertise:
    The depth of scalability, security, and flexibility offered by EarlyResolution reflects the extensive knowledge and expertise embedded in our lending solutions. The integration capabilities extend to the fintech ecosystem, with rapid integration of applications from vetted third-party providers, facilitating a comprehensive and seamless lending experience.
  • Impressive metrics:
    • Partner network: EarlyResolution boasts a network of 20+ technology partners, enhancing its ecosystem and functionality
    • Operational efficiency: With 750,000 workout decisions executed annually, the solution demonstrates its capacity to handle a substantial workload
    • Call-management cycle time: Users experience significant savings, with a 25% – 30% reduction in call-management cycle time, contributing to resource productivity
    • Workflow efficiency: EarlyResolution brings about substantial workflow improvements, achieving a 30% – 50% lift in resource and efficiency gains
    • Decision timelines: Decision timelines are streamlined, with a notable 20% reduction, ensuring prompt and effective decision-making processes

EarlyResolution provides significant advantages to borrowers, servicers, and lenders alike. This innovative SaaS solution is tailored to meet the diverse needs of these key roles by bringing them together within a unified platform. Borrowers benefit from a streamlined and efficient process, ensuring a user-friendly experience. Servicers find increased ease in managing complex tasks and providing consistent service, all within a single platform. Lenders, too, experience enhanced efficiency and simplified compliance efforts, making EarlyResolution a comprehensive solution that positively impacts the entire lending ecosystem.

EarlyResolution has gained recognition for its advancements in several critical areas, each contributing to a more efficient and effective lending ecosystem:

  • Collections:
    EarlyResolution excels in collections by guiding collections counselors through calls, ensuring consistent results and efficient workout plans. Addressing borrower needs and viable workouts upfront not only saves over 20% in time and resources but also reduces the need for future mitigation efforts. This proactive approach to collections enhances overall effectiveness and borrower satisfaction.
  • Workflow:
    Through advanced process automation, EarlyResolution eliminates paper processes and provides instant file access. This automation results in a substantial 20–25% lift in productivity gains within the workflow. Staff benefit from at-a-glance dashboards and customized reporting, facilitating rapid and informed decision-making. The streamlined workflow contributes to operational efficiency and a more agile lending process.
  • Decisioning:
    EarlyResolution stands out in decisioning with automated rules engines, integrated applications, and a unified platform for sharing documentation. This seamless decisioning process not only reduces errors but also leads to a 25–30% improvement in the number of loans serviced by underwriters. Decisioning times are significantly reduced by 20%, demonstrating the solution's commitment to expediting and improving the decision-making process.
  • Borrower self-service:
    The borrower portal offered by EarlyResolution is a testament to its commitment to enhancing the borrower experience. Providing secure online account access and management, the portal allows borrowers to easily upload required documents. The system, in turn, automatically provides users with account status and progress towards resolution, resulting in a notable reduction in inbound call volume by as much as 30%. This not only benefits borrowers by offering convenient self-service options but also contributes to operational efficiency for lenders.