First Associates Implements Artificial Intelligence to Enhance Customer Satisfaction and Boost Portfolio Performance
- May 2, 2017
- Posted by: admin
- Category: Competitive research, Finance & accounting, Funding trends, Innovation, press
San Diego, CA – May 2, 2017 – First Associates has announced today that it has implemented A.I. enabled speech analytics as part of its third-party loan and lease servicing. The speech analytics platform facilitates higher quality customer interactions while ensuring compliance with financial industry regulations.
Using speech analytics, First Associates monitors, scores and provides agent feedback on 100% of voice interactions with consumers using data-driven benchmarking. Traditional loan servicing management techniques call for a 1% sample size of voice interactions using human quality assurance agents to assess quality and effectiveness. The company has already seen significant improvements across quality and performance metrics from the implementation.
First Associates’ speech analytics platform enhances the company’s already robust compliance structure. The system confirms that all required identity verifications and disclosures have been made on each call and flags potential compliance issues. The system also automatically redacts data restricted under PCI standards.
“A defining feature of First Associates is driving service improvement through enabling technology,” said David Johnson, CEO of First Associates Loan Servicing. “We are committed to continuing to bring the best technology available to market to help our clients drive growth and performance in their businesses. A.I. enabled speech analytics is key to building out our servicing platform to deliver on that commitment.”
About First Associates Loan Servicing, LLC
First Associates Loan Servicing is the fastest growing third party servicer of loan and lease portfolios in the United States. For over 30 years, First Associates has provided superior levels of service to lenders and borrowers in the consumer finance industry. With a focus on technology enabled solutions, the company has quickly grown to become a leader in the emerging fintech industry. The San Diego based company works with a wide range of assets including marketplace lending, purchase finance, automotive, powersports, small business and others. First Associates offers turnkey services for lenders including loan and lease servicing, first party servicing, backup servicing, custodial, document verification, and administrative services. For more information, visit http://www.1stAssociates.com.