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Our vision is to revolutionize and automate the loan servicing workflow of the global financial community.
KM2 Solutions and Shaw Systems: A Shared History in Providing Cutting-Edge Solutions for the Loan Servicing Lifecycle
For over 50 years, Shaw Systems has been a ubiquitous presence in the financial services sector. As a leading provider of innovative loan servicing software, Shaw Systems enables organizations to manage the entire loan servicing lifecycle for some of the top financial institutions in the U.S. and abroad. Similarly, for two of those decades, KM2 Solutions has been a complementary leading provider of nearshore outsourcing services to many of the same institutions, with Shaw Systems software shared across its client platforms in all its six countries of operation. And the commonalities don’t end there.
Aside from a significant number of shared clients, both Shaw and KM2 have a mutual commitment to solving pain points in the loan servicing lifecycle. On the technology side, Shaw Systems provides a highly customizable suite of software products that enables financial institutions to streamline operations, reduce risk, and make data-driven decisions. On the customer experience side, KM2 Solutions tailors outsourcing solutions to a client’s needs, improving performance, reducing costs, and enhancing the overall customer experience. Both companies place an emphasis on efficiency, reporting, and compliance.
In this article, we look at how both companies have a shared approach to meeting the unique and evolving needs of the financial services sector.
History and Expertise:
Founded by Roy Shaw in 1967 with a vision to deliver cutting-edge technology solutions to financial institutions, Shaw Systems has grown exponentially over five decades. Today, it serves a global clientele through its deep understanding of the unique challenges faced by financial institutions and develops software that addresses these complexities. Albeit founded sometime later, in 2004, KM2 Solutions partners with many of the same institutions today and has a mission of providing high-quality outsourcing solutions to leading organizations, offering better performance at a lower cost, no matter the size or complexity of the task.
Scalability and Flexibility:
Shaw Systems' software is designed to scale as organizations grow, ensuring it can handle increasing volumes of loans and customers. The solutions integrate smoothly with existing systems, such as core banking platforms and data analytics tools. Similarly, KM2 Solutions can integrate client platforms seamlessly with its own suite of innovative tools to provide an enhanced customer experience. With its broad geographic footprint and multilingual support, KM2 is also an agile outsourcing partner with the ability to ramp up or down on demand and grow with your business.
Compliance and Risk Management:
Shaw Systems' solutions incorporate robust compliance frameworks, ensuring adherence to industry regulations and reducing risk. The software, by design, also provides comprehensive reporting capabilities to monitor and manage risk effectively. KM2 Solutions also prides itself on maintaining the highest standard of integrity when servicing its clients. Regular monitoring and audits are conducted to ensure compliance with all industry acts and standards, including FDCPA, HIPAA, TCPA, FCRA, TCFAPA, and PCI DSS.
Enhanced Customer Experience:
Shaw Systems software facilitates a seamless customer journey by providing self-service options, real-time information access, and personalized interactions, improving customer satisfaction and loyalty. Through its technology partnerships and AI-powered platforms, KM2 Solutions can reach your customer at any touchpoint of their choosing, maximizing convenience while enhancing the customer experience and gathering data-driven insights to improve the overall brand experience.
Clientele:
Shaw Systems serves a diverse range of clients in the financial services industry, including commercial banks, credit unions, auto finance companies, Fintechs, consumer finance lenders, and asset-based lenders. Their clientele spans the United States and extends to international markets. KM2 Solutions, with its deep expertise, is not restricted to the financial services sector. However, it serves many of the same institutions in North America, along with other major organizations and Fortune 500 companies in the insurance, healthcare, home services, travel and hospitality, retail and e-commerce, cable and wireless, and utilities verticals.
Conclusion:
With rich histories, deep industry expertise, and a commitment to innovation, Shaw Systems and KM2 Solutions have become trusted partners for financial institutions seeking advanced software and business process outsourcing solutions. Shaw’s comprehensive suite of customizable products, including the flagship Spectrum software, empowers organizations to streamline operations, manage risk, and deliver superior customer experiences. And KM2 Solutions, with its exclusively nearshore strategy, improves performance and processes while delivering exceptional service to its clients and their customers. So, whether you are a Shaw Systems client, KM2 Solutions client, or looking to streamline your loan servicing lifecycle, combining Shaw Systems' robust suite of software solutions with KM2 Solutions’ enhanced customer experience expertise could be the best way to successfully meet the diverse needs of the modern financial services provider.
About Shaw Systems
Shaw Systems is a leading provider of modern web-based servicing and collections software with over five decades of experience. We provide out-of-the-box loan servicing configuration and business rules so your team can hit the ground running. Our pre-configured product allows any size lender to accelerate their project and leverage best practices right away. Our fully integrated solution offers seamless support for the needs of the borrower, dealer/merchant, internal staff, and management. Shaw's solution manages every aspect of the servicing life cycle. This includes the welcome call/email/text, accounting, customer service, delinquency management, recovery, and placement. Financial organizations can obtain business faster and at a lower cost with our industry-leading servicing software.
About KM2 Solutions
KM2 Solutions operates omnichannel contact centers throughout the Caribbean and Latin America, providing outsourced inbound and outbound customer service contact services for voice, chat, email, and mobile. KM2 Solutions provides these services to clients in financial services, multi-unit healthcare, insurance services, travel and hospitality, eCommerce, technology and telecommunications, home services, and other sectors. The company provides clients with a host of solutions, including customer support and care, telesales and retention, claims management and processing, appointment setting and schedule management, loan origination and verifications, back-office processing, and technical support. KM2 Solutions maintains PCI DSS compliance, completes a SOC 2 audit annually, and has a Compliance Management System that meets the FDIC standards.