Sagent Lending Technology is expecting to take the lead in the subscription space tapping into a similar strategy that the company uses to help captives and lenders manage loan and lease originations, Charles Sutherland, chief product officer, told Auto Finance News.
“Historically we have strength in helping [auto finance] companies manage the strength of their portfolios,” Sutherland said. “The same thing will occur with subscribers when [subscription models] evolve from pilot to mainstream.”
Sagent Lending Technology was a result of Fiserv’s rebranding last month, and a joint venture between Fiserv and Warburg Pincus helped form Sagent Lending Technologies, which gives their captive clients grander scale in trending markets — like subscription services, powersports finance, and automation.
Sagent Chief Executive Bret Leech believes what’s most important to lenders is the ability to move into new spaces — such as subscriptions — in a compliant and scalable manner.
“OEMs and finance companies look at subscription models differently, and we’ve built a facility that allows them to configure for their unique approach in the market,” Leech told Auto Finance News. “Our obligation to our clients is for them to be able to approach this space in a compliant fashion and scalable manner so they can approach [subscriptions] in a way that works for them.”
The company is also expecting to take the mantle of further automation in originations, servicing, and business process outsourcing efficiency within 2019.
Sagent Technology’s clients and partners can expect extended brand introduction at the Auto Finance Summit this month, Sutherland said.
“Being independent helps us excel in investments and growth in 2019 and beyond,” he said, noting that brand awareness outside of the products is a part of the company’s efforts.
For more content like this, check out the upcoming Auto Finance Summit 2018, October 24-26 at Wynn Las Vegas. Visit www.AutoFinanceSummit.com to register.
Source : AutoFinanceNews
