Dovenmuehle, one of the oldest companies in the business, is changing the way it approaches subservicing.
The shift to what the company calls a diagnostic approach aims to address hurdles in the onboarding process, which many have cited as a point of potential friction for
The new strategy, drawn up in consultations with clients who have completed servicing transfers, intends to address challenges in the technical exchange of data, such as when there is inconsistent terminology in different operations.
"Better preparation at the start of a servicing relationship changes what the rest of onboarding looks like," said Matt Budy, a senior vice president at Dovenmuehle, in a company press release.
New steps in a dynamic market
The new onboarding protocol starts with a survey aimed at assessing a portfolio's complexity, organization, technology, resources, and processing speed.
Professionals with expertise in automation and onboarding then evaluate the survey and use the results of that analysis to set up operations based on customer priorities for processing and risk management.
"The survey questions are designed to characterize the client and the conditions they are in at the moment of transfer. That allows us to address concerns up front," said Jonas Brickus, the company's head of innovation culture. Brickus led the diagnostic process' development.
The shift in the company's strategy arrives at a time of broader change in servicing as some other longtime players
