Customer Story

Leader Bank reduces inbound calls by 27% by helping clients understand escrow adjustments

“This is a win/win! Mortgage clients are getting the help that they need, and we are saving time and money by greatly reducing the number of phone calls that we receive. The Digital Onboarding engagement platform helps us deliver highly personalized campaigns that clients truly value.”

Lindsey Rohan
First VP of Bank Innovation

Overview

Loan clients were inundating Leader Bank with phone calls because they needed to understand how the annual escrow adjustment process worked. Common questions included:

Why is my monthly payment going up?
What will my monthly payment be if I pay the shortage versus if I don’t?
How do I pay for the shortage?
How can I access my escrow statement?

Although clients received emails that directed them to review their statements and a list of frequently asked questions, they required human support to navigate the process.

Campaign goal

Help clients better understand their situation regarding the annual escrow adjustment process and the steps they need to take to fund the shortage or receive their surplus payment.

Campaign tactics

Leader Bank tapped into the annual loan escrow statement data to create a more personalized campaign using the Digital Onboarding engagement platform. The new campaign helped clients understand their unique situation regarding the escrow adjustment process and the steps needed to fund the shortage or receive their surplus payment.

Clients received an email linked to a personalized microsite that displayed their escrow shortage or surplus, the escrow disbursement for the next 12 months, and payment plans and options. The microsite also included a call-to-action button that enabled clients to make one-time payments.

Campaign results

The new campaign reduced phone call volume from loan clients with an escrow account by 27%, as tracked by Leader Bank’s client service ticketing system.