The mortgage industry has undergone significant transformation in recent years. At Cenlar, technology is driving that evolution that keeps Cenlar at the forefront.
Our strategy for digital innovation revolves around enriching every interaction we have with our homeowners, from their initial visit to the website, through our call center, our industry-leading bots and the mobile app. Every communication with homeowners is seamless because of our commitment to customer centricity.
Today’s consumer behavior and expectations have changed. Understanding these shifts, we continually invest in digital technology to provide better service and quick access to account-related information. We’ve used data to build personalized and highly secure digital experiences to meet homeowners when, where and how they prefer to do business with us.
And it’s working.
We’ve seen the results of this investment across every measurable metric; 81% of Cenlar’s loans have registered for our homeowner website or our mobile app, beating the MBA average and is one of the highest in the industry. In late 2022, we reached a milestone of more than 1 million homeowners who elected to “go paperless.” Our bots handle 150,000 interactions a month, with 85% of those people never having to speak with a live representative. And, nearly 94% of all payments Cenlar receives are handled via self-service, digital channels.
The benefits of our technological investments are evident in improved customer satisfaction feedback, expedited response times and increased adoption. For example, our mobile app ranks 4.9 stars out of 5 on Apple iOS, with more than 7,000 reviews, and our paperless account statements are at 42%, well above the industry average.
We understand that homeowners need to engage with us at multiple touchpoints easily. These are just the most recent examples of what we are doing to streamline and enhance the process. To that end, we’ve focused on hiring industry experts, collaborating with technology providers and listening to our clients and homeowners to establish and implement best-in-class digital experience across all touchpoints.
Cenlar’s differentiators across the industry are founded in our processes, state-of-the-art platforms and seamless integration of digital technology. We prioritize empowering our employees, advancing technology and fostering a culture of innovation at every level.
Our long-term perspective on innovating through education programs, IVR/bots powered by speech analytics and tech-led efficiencies allows us to drive meaningful change while focusing on reducing compliance and operational risk.
Innovation isn’t just a buzzword, it’s the cornerstone of our commitment to delivering exceptional service and driving industry-wide progress on behalf of our homeowners.
Cenlar, At the Forefront Digital Transformation
