Equiant Backup Servicing Plans Provide Assurance, Disaster, Data Security and BC Plans

In light of recent events, many businesses are reviewing their BC plans.

As a result, Equiant, Chandler, AZ-based loan servicer and financial technology provider is seeing increased interest in its backup servicing options.

“When there is a triggering event, such as a natural disaster or a data breach, our backup servicing clients can rely on Equiant to ensure that their portfolio performance continues at current levels,” says Ericka Schwarm, director, client development. “Putting a plan in place is simple, and once everything is set up, we’re invisible to our clients unless there is an issue where we can be of assistance.“

Whether businesses service their own portfolio or rely on an outside loan servicer, having backup servicing in place should be part of any BC or disaster plan. In addition, there is a growing demand by rating agencies, originators and investors to mitigate the risk of a disruption to the servicing of loan portfolios by having a backup servicing plan.

The company offers customized solutions, ranging from ‘hot,’ ‘warm’ or ‘cold’ servicing, which denotes the time required for the firm to assume the duties of a primary servicer. Providing additional assurance to its clients, the firm secured a MOR ABS2 asset-backed consumer finance ranking of Stable from Morningstar Credit Ratings LLC in 2019, as well as the Payment Card Industry Security Standards Council’s highest level of certification: PCI Certification Level 1.

Another company’s product that has been in demand is eqConnect, which is powered by NICE inContact, in cloud contact center software. Anyone using eqConnect, including remote workers, can manage outreach campaigns through an advanced preview dialer and interactive voice response technology. Its performance dashboards make it easy to monitor employees even when work is being completed remotely.

“At Equiant, we are committed to providing best in class services and technology to our clients,” Schwarm says. “We are continually investing in our staff, technology and systems, which allows us to deliver outstanding client support while providing a wide range of services and products at a compelling fee structure.“

About Equiant
It is one of the US’ structured finance servicers with a portfolio that exceeds $1.5 billion and includes more than 175,000 individual consumer loans. Its array of financial products and services includes loan receivables and maintenance fee servicing on a fully hosted web platform, PaaS receivables technology, point of sale merchant processing with PCI Level I compliance, document custody (including digital), integrated payments, integrated reporting, integrated communications and now integrated contact center tools for early stage recovery and delinquency control.