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Pavaso value presentation to schedule your online demo
- 1. The Digital Mortgage Journey Bruce Meissner bmeissner@pavaso.com www.pavaso.com
- 2. PROCESS DIAGRAMS Ready to Evolve & Close Business Differently? PAPER DIGITAL MOBILE Yesterday TomorrowToday
- 3. Schedule an Online Meeting: Our Agenda • Introductions • Pavaso Background • Understanding Your Current Point of View • Pavaso Process & Approach- Step by Step – Goals for Better Customer Experience – Involve All Stakeholders – Provide Lender Confidence & Control w/Closings – Operational Efficiency • Overview of What to Look For- In Today’s Demo • Online Demo of “All Users’ Experiences” in the Pavaso Platform • Questions & Concerns • Agree on our Next Steps
- 4. Pavaso’s end to end service platform and solutions helps us take our closings to a new level, the ability to stay in our current systems, seamless workflow with all our internal and external servicing stakeholders and securely connecting with our members on a wide variety of devices opens the door to an innovative customer experience with greater operational efficiencies.” Amy Moser, VP Mortgage Services Mountain America Credit Union Consumers Lenders Realtors Settlement Agents Investors Service Providers
- 5. Goals for Efficient Growth with Pavaso • Real Time Digital Document Delivery to Any Stakeholder • Centralized Communication and Collaboration • All Digital, Hybrid or Paper Closings • Accurate, Consistent Closings • Audit & Tracking • Timely Communication • Rate Lock Changes • Buy Backs • Know before you Owe • Online Closing Options in One Place • Direct connectivity, collaboration and communications with All the closing parties • Do business the way Borrowers consume loans Improved Consumer Experience Improved Operational Efficiency Reduced Errors/Costs Mitigate Lender Compliance Risks • CFPB “Good Faith Effort” • 3rd Party Service Providers • Service Reputation • Penalties and Fines • CFPB “complaints” database
- 6. Online Demo/Phase 1- Lender/Title Collaboration
- 7. Demo/Phase 2- Borrowers Online Review, Intent to Sign
- 8. Demo Phase 3- Pavaso’s Unique Digital Closing Events
- 9. Pavaso Pathway for Growth STRATEGY & OBJECTIVES ANALYSIS & CUSTOMIZATION PILOT PROCESS TRAIN USERS LAUNCH & ROLLOUT Next Step-Meet to define Business Requirements Schedule analysis- document current process & transition approach Live Experience- Value of process & platform ease of use Schedule Commitment- Lender, Title partners names & dates Post-Pilot Report- assess & plan expansion Date:_____ Date:_____ Date:_____ Date:_____ Date:_____
- 10. Value & rank your Demo from Pavaso? • Providing each stakeholder specific functionality for their part of the process? • Creating a communication and collaboration platform where each business partner can work together with the other? • Establishing a single point of contact for the Consumer for both collaborative and individual relationships with stakeholders contributing to closing their home? • Providing control and confidence with 3rd party providers- right way, same way, on time, every time!
- 11. Why Pavaso, Why Now, Next Step? Business Requirements Checklist: Transform the way you do business by adapting a New business model with New metrics & outlook Greater operational efficiencies, service flexibility & creativity Improved compliance, audit protection & positive view from the CFPB World class consumer experience & enhanced service platform One flexible service platform that grows with your business Improved collaboration, control, & communication with all stakeholders New ways to market to & with realtors, service partners & consumers Not an IT Project, No capital expenditure Long term marketing & service platform resulting in More Business
Editor's Notes
- Purpose: Set expectation and Assess/Qualify the Prospect and Determine what the Prospect knows about how the digital environment works, i.e., digital symmetry. Challenge Questions Are you prepared to rely on your current best practices or looking to change how you do business?
- Purpose of the Frame: Gain Alignment with the target executive(s) and gain their perspective for where the industry is heading Industry Point of View Customer-Driven – All decisions focused on conforming to individualized customer needs: This requires offering more transparency, education, accountability and convenience of doing business. No Barriers to Entry for New Lenders (Action.com, Quicken) and No Barriers to Exit by Consumers Collaboration – Outsourcing will continue to exist for lenders and partners in our industry due to ever-changing consumer expectations. Scale – Declining profits must be mitigated through best in class technology to deliver products and services to the mass market at lower margins; costs must be substantially reduced through minimizing product and service complexity with streamlined technology and operations to remain viable. More Digital and Mobile – Focus on applying digital and mobile capabilities to both Front and Back Office Online-Channel – More than half of business is conducted through digital channels. Physical locations will diminish in importance, lenders will not have the ability to rely on them for survival. Innovative – Being on the cutting edge of technology at all levels of the organization will be necessary to stay ahead of the market. Pavaso Point of View: Your current business processes have been established for some time and have been useful in getting you to this point. This issue is the world around is being changed by regulators and a changing consumer base. Consumer, Costs, Competition and Compliance pressures pose tremendous challenges and expose the extreme difficulty in shifting your organization from one business model to another. Your competitors will take a traditional approach of buying “spot” solutions and augment or insert them into old processes resulting in very little gains and very high frustration. Getting stuck with the current “box of software” to do more with less. The Pavaso approach to change involves aligning your staff’s knowledge and expertise and our to create a whole new business model with the spirit of change and flexibility built in. This method also includes various risk mitigation techniques so you are not investing in runaway projects and massive capital investments before seeing anything at the finish line. We know and understand the frustrations these new regulations are creating for you, we understand the partners you work with, and we understand how to take you from where you are to and entirely new world giving you clear and distinct methods to stay on top of your markets. Challenge Question: Can you afford not to invest NOW given these imperatives and some of the following the Opportunity ahead: Maintain/Gain Competitive Advantage Transparent Compliance End-to-End Operational, Process and Production Efficiency Enterprise Viability
- Purpose of the Frame: Validate our assertions by telling the customer story and the Pavaso Solution with the Case Study Key Discussion Points: What we Do: We deliver a service platform, tools and expertise to help you transform your lending business We focus on improving operational efficiencies while delivering a better consumer experience to include: Consumer Experience & Management Industry Closing Process Management Audit Control & Tracking Perpetual Consumer Marketing The growth and efficiency initiatives for MACU began when the CEO decided to transform the business and gain a competitive advantage through the use of an all-digital platform which highly differentiated them, resulting in an increase in growth @ 20% annually. Some of MACU’s immediate benefits from the Pavaso platform included: Drastically reduced closing times and the ability to provide a superior consumer experience Optimized their investments in the consumer experience by simplifying their process and utilizing Pavaso technology to extend the ultimate closing experience to the consumer in creating a seamless workflow for all stakeholders. MCAU has assumed the majority of the risk with their servicing partners by choosing to do business this way. Adopting Pavaso has minimized the risks for all stakeholders involved and allowed them to do business in a new, efficient and elegant fashion. Challenge Question: How strategic is this type of initiative for your business ?
- Purpose of the Frame: Position Pavaso as the Best Pathway for Efficient Growth = Consumer Experience + Production Efficiency + Risk Mitigation Key Discussion Points: Pavaso re-positions the Lender as the provider of a superior, more efficient experience overall, from Consumer to all parties involved. Immediate business benefits include: The Consumer Experience - The “Know to Owe” experience (education, transparency and accountability) at their own time and in the comfort of their own surroundings in amore interactive and collaborative way with all the closing stakeholders. Production Time - Significant decreases in the time to produce all the closing documents in compliance with the CFPB Production Costs - Significant decreases in the cost to produce all the closing documents Mitigate the Risks - Pavaso is highly compliant and has met the CFPB standards What is the Alternative: Continue with the current business model and process by augmenting it with software and people to the point where the business produces very little profit and is subjected to the hostile intents of multiple government agencies. Remain constant as your competition moves in different direction, expanding their market share while cutting off your methods for growing your business. Continue to produce products and service the way you have for a growing consumer population that wants to do business completely different (millennial). Perform a “me too” strategy following other companies as they implement software with mixed and expensive results. Continue with the current staff believing there is only one way to do this job, no flexibility, and a reliance on “working harder to get the job done” as your main differentiator. Go out of business as others change or at the hand of unintended violations of CFPB and others. Reach a point of inability to compete as the world around you takes quantum leaps in technical capability and you can’t keep up. Cahlenge Question: What are you key prioriites for more efficinent growth and did we miss any?
- Purpose of the Frame: Call to Action for how to get started partnering with Pavaso MVO’s Produce, test and launch the business model, process and and tools Provide plan and checkpoints that help ensure and measure that the key Executive(s) business objectives can be achieved Opportunity to provide decision points at each phase of the pathway whether to proceed with the next phases limiting your risk and costs and ensuring greater success Phase 1 – Planning – Planning for the project Phase 2 – Customize – Aligning the business process new and old modeling and what can be accomplished Phase 3 – Pilot – constructing and test the new business model, supporting process and tools Phase 4 – Train – Ensuring that solution accomplishes your company objectives and greater deployment with your staff Phase 5 – Launch – Executing on the go-to-market plan and dominating the market place Key Next Steps: Set your top 5-10 Executive Objectives for this strategic initiative Commit to leading this effort “actively” Assign your best people to plan and customize a solution for the first 30-90 days Allow Pavaso to demonstrate and validate new ways of doing business Complete Phase 1 & 2, make an educated decision to move forward Test and Train and develop the launch and go-live plan Be a successful “Pavaso Certified” provider leading the way in your market Challenge Question: How does this line up with how you start new strategic initiatives ?
- Purpose of the Frame: Call to Action and Gain a PACT to Agree on the Prospective Value Key Message: Cultural Change, “Can’t becomes What if” Discussion Points: With the pending requirements of the CFPB’s new ruling, Pavaso creates a new approah to the market with a level of consistency that expands your current business model with the ability for real time delivery and very little impact to your current processes. Pavaso limits your expenses risks and exposure to help your transform your lending business. Challenge Question: What do you recommend is the next step step(s) if any to begin transforming your lending business?