With TeleVoice's IVR, borrowers have the ability to quickly access their loan information, including the ability to easily make payments via one-time drafts. Users who opt to get agent assistance are transferred to the correct group based upon loan-level criteria. This improves customer service while simultaneously generating operational efficiencies for Fay Servicing's team of account managers.
‘Often, the difference between a borrower remaining current – or returning to current status – and slipping into default lies is a servicer's ability to easily facilitate a payment request, regardless of channel,’ says Barry Hays, co-founder and senior vice president of TeleVoice, in a release. ‘Fay Servicing has long established itself as a leader in leveraging relationship-based servicing strategies to maximize the performance of its portfolio, and with the implementation of our pay-by-phone capabilities, its borrowers will have another payment option at their disposal.’