Equiant’s client-centric culture delivers innovative solutions for loan and maintenance fee billing servicing. As a result, it has become one of the U.S.’s leading timeshare servicers with an active serviced portfolio exceeding $1.5 billion and with more than 1.2 million loan receivables and 400,000 maintenance fee accounts. Their strategy is to continuously improve existing solutions and introduce new ones through innovation and integrated partnerships that offer long-term value and consistency.
Traditionally, vacation ownership companies have had to choose between hiring an outside organization specializing in professional loan servicing or developing their own technology and systems. Loan servicing requires specialized knowledge and infrastructure, so it benefits greatly from economies of scale. Most developers lack the critical mass, in terms of portfolio size, to invest in the infrastructure required to achieve maximum efficiency.
Even the largest timeshare mortgage and maintenance fee portfolios pale in comparison to the size and volume of accounts Equiant handles.
Equiant’s PaaS model erases the need to make that choice, keeping developers firmly in the driver’s seat. The complete account receivables system includes loan servicing, maintenance fee/dues servicing and invoicing, a collections module, document custody, and multi-option reporting tools. This seamless platform allows clients and lenders to configure user portals like loan servicing, maintenance fee/dues and HOA servicing, reporting and collections. They have access to a Microsoft SQL data server, which supports “big data” analysis in the cloud environment.
Equiant leading-edge contact center technology, eqConnect, is powered by NICE inContact, the global leader in cloud contact center software. It features seamless campaign integration, agentless dialing, real-time performance indicators, complete contact recordings, long-term storage, advanced recovery call routing, multi-channel contact handling, full skill-based routing and prioritization, total contact blending, multiple dialer modes and customizable dashboards and reports.
Equiant’s Learning Management System, eqLearning, simplifies training and provides answers to technical questions. “It’s not something you’ll only use when you’re new to the system, there’s a wealth of information to help you understand all the capabilities that Equiant’s tools provide,” one client says.
Equiant’s Platform as a Service (PaaS) model has allowed its clients to achieve industry-leading portfolio performance with the highest levels of data security and regulatory compliance. Their state-of-the-art technology solutions for developer/lenders include integrated payment, reporting, communications and contact center tools for early-stage recovery and delinquency control.
The platform transforms the payment processing function and improves portfolio performance. Developers can customize the system’s built-in safeguards, including validating new sales with Social Security, bank account, and credit card data. They can establish permission levels, allowing only certain users access to data, or alerts if information is copied or removed from the system. They can also customize controls to meet lender requests.
Equiant’s Business Intelligence Tool Set (BITS) reporting allows developers to create their own detailed reports with the information they find most valuable—such as custom charts and graphs for historical and current trend analysis—from a high level or to drill down to specific data.
Equiant hosts developer accounts under SSAE 18 compliance requirements on the ultra-secure Microsoft Azure cloud platform, securing data from hacking as well as natural disasters, power outages and business interruptions.
Equiant is a member of the prestigious Visa Global Registry of Service Providers, demonstrating full compliance with the strictest Payment Card Industry standards.
In 2020, the benefits of Equiant’s servicing technologies became even more evident. In response to the COVID-19 pandemic. Equiant activated its Business Continuity Plans so their business processes, including payment processing, reporting, and account management were not impacted.
Equiant’s contact center and client-service teams remained productive while working remotely on secure company laptops, logging into their Virtual Private Network via two-factor authentication. Equiant’s cloud-based integrated phone solutions meant that clients using eqConnect could continue to manage outreach campaigns through advanced preview dialer and Interactive Voice Response technology.
Clients’ employees could work remotely while staying current on productivity even in the most challenging times. Throughout the pandemic, Equiant focused on client and consumer needs by implementing forbearance and Covid-related coding to allow developers and lenders to optimize portfolios and meet consumer needs. One industry lender noted, “The solution you provided to developers/lenders to track and report on people impacted by COVID-19 has been fantastic. I work with many different servicers and your solutions have been head and shoulders above the rest. Thanks again for the hard work.”
The best part? Equiant’s superior technology leads to substantial cost savings with improved KPIs. Recent new clients report saving up to 30 percent in the first year!