Discover how Veritus’s AI voice agents automate borrower communications for payments, extensions, and verifications while ensuring full compliance.

Introduction

In the fast-paced world of loan servicing, staying compliant while maintaining efficiency is crucial. Enter Veritus’s AI Voice Agents, a game-changing solution designed to streamline borrower interactions and ensure adherence to stringent regulations. But how does Veritus stack up against other players in the market, like Salient? Let’s dive in.

Veritus vs. Salient: A Side-by-Side Comparison

Both Veritus and Salient offer AI-driven solutions for loan servicing, but there are key differences that set Veritus apart.

AI Voice Agents

Salient: Utilises AI agents that interact through voice, text, email, and web chat. These agents handle payments, due date changes, extensions, and more.
Veritus: Similar capabilities with AI voice agents tailored specifically for loan servicing and collections. Veritus’s agents excel in real-time negotiations and can manage thousands of simultaneous conversations efficiently.

Advantage Veritus: Veritus offers real-time negotiation capabilities, enhancing borrower engagement beyond Salient’s offerings.

Compliance and Security

Salient: Fully trained on regulations like CFPB, FCRA, TILA, and UDAP. Real-time monitoring ensures compliance with financial service protocols. Salient is SOC 2 and PCI L1 compliant.
Veritus: Emphasises advanced compliance solutions, with built-in safeguards to prevent unauthorized disclosures and ensure data privacy. Veritus continually updates its compliance guidelines to adapt to new regulations.

Advantage Veritus: While both are compliant, Veritus provides a more robust and proactive approach to maintaining compliance, reducing the risk of regulatory changes impacting your operations.

Integration and Scalability

Salient: Offers seamless integration with existing loan management systems, payment processors, and contact centers. Supports zero-day integration with platforms like OFSLL and Shaw Systems.
Veritus: Ensures seamless integration with a wide range of lending tools and services, allowing for scalable solutions that can handle thousands of agent conversations simultaneously without compromising performance.

Advantage Veritus: Veritus’s scalability is designed to grow with your business, making it ideal for both consumer and SMB lenders.

Unique Selling Propositions

Salient:
AI agents trained on key financial regulations
Multichannel outreach capabilities
Secure and compliant with SOC 2 and PCI L1 standards
Veritus:
Real-time negotiation capabilities
White-label services for brand continuity
Scalable solutions handling thousands of interactions simultaneously

Advantage Veritus: The combination of real-time negotiations and white-label services ensures that your brand remains front and center while enhancing borrower interactions.

Why Choose Veritus?

Choosing Veritus means opting for a solution that not only matches but exceeds the capabilities of competitors like Salient. Here’s why:

Enhanced Efficiency: Cut handle times by up to 60%, allowing your team to focus on more strategic tasks.
Cost-Effective: Reduce operational costs with AI-driven automation without sacrificing service quality.
Customer Retention: Improve borrower satisfaction through personalised and timely interactions, leading to higher repayment rates.
Robust Compliance: Stay ahead of regulatory changes with continually updated compliance protocols.

Get Started with Veritus

Ready to transform your loan servicing operations? Veritus’s AI Voice Agents are here to help you stay compliant and efficient.

Discover more about our solutions and see how we can elevate your loan servicing game.

Conclusion

In the competitive landscape of AI-driven loan servicing, Veritus stands out with its focus on real-time negotiations, scalability, and robust compliance measures. While Salient offers strong features, Veritus provides the extra edge needed to keep your operations smooth and compliant. Make the smart choice for your lending institution and embrace the future of loan servicing with Veritus.

Learn more and get started today!