TORONTO, Dec. 14, 2021 /PRNewswire-PRWeb/ -- Senso, a fintech analytics startup that helps mortgage lenders build proactive relationships with borrowers, has launched Senso Engage, a new SaaS product that enables mortgage banks, lenders, and servicers to build meaningful relationships with borrowers in the months leading up to their home purchase. By providing relevant and personalized information early in the buying process, Senso Engage enables banks to nurture relationships from initial contact to loan closure — and drive higher origination growth and retention rates.
With the MBA forecasting $1.73T in purchase originations in 2022, Senso Engage enables originators and servicers to automate highly personalized nurturing campaigns at a scale and velocity that eclipses typical outbound campaigns, resulting in accelerated mortgage growth and reduced advertising spend. And, most importantly, Senso Engage highlights the bank's role as a proactive, trusted resource which builds advocacy with homebuyers.
Senso Engage is designed for use with Senso Insights, Senso's AI-powered tool that automatically analyzes and engages prospective borrowers at multiple different touchpoints, mapping the steps in a customer's journey and identifying where they might be dropping off. Residential lending teams can integrate Senso Engage with their existing tools to dramatically increase reach and effectiveness by executing campaigns with combinations of email, text, and push notifications.
"Today, most financial institutions simply get to their existing client base too late leaving hundreds of millions in potential income on the table, and borrowers struggling through the tedious and time-consuming process of switching providers. We flip that dynamic on its head, enabling financial institutions to proactively engage prospective buyers months in advance and surface up insights that guide them through the discovery process," said Saroop Bharwani, CEO and co-founder of Senso. "By adding Senso to their customer-engagement strategy, lending partners will be more likely to build trusted and long-lasting relationships with borrowers."
Senso Engage boosts revenue for mortgage lenders
Since 2018, Senso has been refining its AI and machine-learning technology by working closely with select mortgage teams at North America's top banks to proactively engage active borrowers months in advance of their next home purchase or refinance. As a result, Senso has increased close rates for these banks by at least 10%, adding hundreds of millions in additional mortgage balance to their portfolio.
Fully digital process drives customer loyalty and boosts revenue
With refinance transactions trending down, home-purchase transactions are the focus leading into 2022. Senso's proven process transforms the buying process and boosts both new originations and retention/recapture of borrowers in their existing portfolio:
1. Prequal-as-a-Service — digitally extend and embed a financial institution's prequalification, and provide borrowers with ongoing transparency into their purchase power.
2. Proactively identify in-market borrowers — Senso's powerful AI insights automatically analyze prospective borrower behavior at multiple different touchpoints, mapping the steps in their digital journey, and identifying where they might be dropping off.
3. Enhance client experience to increase conversion — provide borrowers with useful insights and recommendations tied to their affordability, and ways to strengthen their application leading up to their next purchase.
4. Supercharge existing CRM platforms — provide loan officers with actionable intelligence to meet and exceed expectations of more borrowers, thereby reducing churn, increasing revenue, and personalizing customer experiences.
Connect with Senso to learn more
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Learn more about Senso Engage
Contact Senso directly via email: [email protected]
About Senso
Senso strives to provide anyone dreaming of their next home purchase with a better experience from their existing financial institution. Built with the homebuyer in mind, Senso is a Toronto-based intelligence and engagement platform designed to help mortgage lenders build long-lasting relationships by proactively engaging borrowers leading up to their next home purchase. Senso enables financial institutions to proactively provide prospective borrowers with highly relevant insights months before their next home purchase. To learn more, visit senso.ai.
Media Contact
Tim Cox, Senso, 650-888-6116, [email protected]
SOURCE Senso
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