Case Study: a top-5 U.S. loan servicer increases assistance plans and cuts technology footprint in half with Luxoft's EarlyResolution

U.S. Loan Servicer cuts technology footprint by 50% with Luxoft

A top-5 U.S. loan servicer faced the challenge of manually evaluating customers struggling with payments, a process that tied up excessive resources, wasted cycle time, and employed multiple technology solutions. This manual approach also created significant regulatory risk by lacking a singular audit trail, which exposed the loan servicer to potential fines and reputational harm. To address this, they worked with vendor Luxoft to implement its EarlyResolution solution.

Luxoft's solution automated the client's disparate processes into a single technology, leveraging workflow and decisioning capabilities. This new automated process dramatically improved accuracy and timeliness, achieving a 1% overall error rate and significantly reducing manual intervention. As a result, loan modification offers increased to over 5,000 per month, and the technology footprint was reduced by over 50%.