Bret Leech on Fiserv's Change to Sagent Lending Technologies
By MBA Insights Staff
December 17, 2018
Bret Leech is President and CEO of Sagent Lending Technologies, King of Prussia, Pa. Previously, he served two years as Fiserv's Division President of Lending Solutions, providing technology services for home and automotive clients across North America. Before that, he served three years as Fiserv's Senior Vice President of Human Resources.
In September Fiserv announced launch of its new brand identity, Sagent Lending Technologies, a joint venture between Fiserv and Warburg Pincus. The name Sagent is a combination of two words, sage and agent. It also introduced the tagline "grow wisely."
MBA INSIGHTS: Fiserv was a widely known brand for many years. Why change now?
BRET LEECH, SAGENT LENDING TECHNOLOGIES: Fiserv is an excellent brand, very well-known and respected as a leading fintech provider across a wide range of technology that moves money. For us at Sagent Lending Technologies, a brand change is an opportunity for us to focus on the area of technology most relevant to our client base. We are fortunate to partner with terrific clients and together we are making our vision of making lending better for everyone a reality for automotive, consumer and mortgage lenders.
INSIGHTS: What was the process behind becoming Sagent Lending Technologies? How long ago did Fiserv and Warburg Pincus start talking about this?
LEECH: In 2017, we started to look at how we can accelerate our growth in the lending technology marketplace. As a first step, we reached out to our clients, who we've been honored to support over the years, and we asked them what they needed from us in order to be more successful. They responded that they were looking to increase the effectiveness of their business at speed and to respond to the increasing digitization of automotive, consumer and mortgage lending. To make this happen we decided to partner with an investor to accelerate our pursuit of scale at speed. Warburg Pincus stood out as an investor partner who not only understood our business but shared a common vision of growth within our space. They have done this for a long time and know what it takes.
INSIGHTS: Has anything changed with the company structurally?
LEECH: No, our associates have joined us in this journey and I am pleased our leadership team and key players all made the choice to stay with us and our clients. Fiserv has also remained part of our business as an investor, infrastructure provider and partner with integrated solutions for mortgage lenders such as LoanComplete. We have created the best possible structure for our clients: continuity in solutions coupled with the independence to invest in the best possible future for our business.
INSIGHTS: Where do you see technology for the mortgage industry moving in the next few years? How is Sagent adapting to meet those needs?
LEECH: For us, it always starts with our clients, this is our number one focus. We have the maximum positive impact when we focus on helping our clients reduce their operating costs and delight their borrowers. We have made demonstrable progress on both these elements in the last several years. Borrowers and users respond positively to our real-time intuitively designed user experiences. Increasing satisfaction and effectiveness of our clients, associates and their borrowers. Our clients can operate on one system for both consumer loans and mortgages and don't have to wait for the night time batch cycle like servicers on other solutions. Whether quickly boarding new loans or delighting existing borrowers our clients know that now is the time to win a customer for life and our Sagent solutions can help make that a reality.
(Views expressed in this article do not necessarily reflect policy of the Mortgage Bankers Association, nor do they connote an MBA endorsement of a specific company, product or service. MBA Insights welcomes your submissions. Inquiries can be sent to Mike Sorohan, editor, at email@example.com; or Michael Tucker, editorial manager, at firstname.lastname@example.org.)