Home / Default Servicing / Collections / Central Bank Agrees to Six-Year Partnership With Sagent
Print This Post Print This Post

Central Bank Agrees to Six-Year Partnership With Sagent

Sagent, a fintech software company modernizing mortgage servicing for banks and lenders, has announced a six-year partnership extension with The Central Trust Bank to accelerate its growth with scalable mortgage servicing fintech.

The Central Trust Bank is a $19 billion Missouri state-chartered trust company with 150 locations in 78 communities serving consumers and businesses in Missouri, Kansas, Illinois, Oklahoma, Tennessee, North Carolina, Colorado, Iowa, and Florida. Divisions of The Central Trust Bank include Central Trust Company, Central Investment Advisors, Jefferson Bank, Bank Central, Central Travel, and Central Technology Services.

Central Bank will continue powering its scale servicing operations with Sagent’s cloud-based LoanServ, relying on Sagent’s configurable servicing technology to automate high-volume tasks and workflows, deliver superior customer experience, and adapt in real-time to evolving customer and regulatory requirements.

“Central Bank is a shining example of high-touch, empathetic community banking powered by industry-best tech innovation, and Sagent is honored to power this customer experience,” said Dan Sogorka, CEO of Sagent. “Long-time partners like Central Bank help lead the evolution of Sagent’s cloud-based core, default, and consumer platforms, and we’re thrilled they trust us to continue bringing the best of core banking and mortgage servicing technology as they accelerate their growth.”

Since 1902, Central Bank has built a legacy as a community-first institution, playing a role, and fostering deep roots in the local communities it serves in more than 140 locations across the Midwest. Over the last century, the Missouri-headquartered bank has established a reputation as a service-oriented bank, earning a slate of accolades including “Best Customer Service Bank” by Newsweek and recognition in the “Top 25 Banks” for 13 consecutive years on Forbes’ List of “America’s Best Banks”, ranked as 16th by Forbes in 2022, and 33rd in 2023.

“Central Bank remains committed to its strong community roots while embracing growth opportunities through partnerships with industry leaders like Sagent to power ultra-personalized, full-service banking that helps us engage, care for, and retain our customers through every step of the homeownership journey,” said Steve Komaromi, COO of Loan Servicing at Central Bank. “With Sagent powering our mortgage servicing technology, we operate more efficiently, stay ahead of the fast pace of fintech innovation, and deliver the modern bank-on-my-phone experience our customers expect. We’re thrilled to expand our partnership with Sagent as we grow our servicing customer base and innovate even faster for them.”

Sagent’s partnership with Central Bank is the latest in a series of Sagent moves to transform the homeowner experience for financial organizations servicing millions of consumers with trillions in mortgage balances. Sagent also recently closed on a seven-year partnership with American Savings Bank (ASB) to continue powering its mortgage servicing ecosystem. Through the deal, ASB will continue powering its scale servicing operations with Sagent’s cloud-based LoanServ system of record. For more than two decades, ASB has relied on Sagent’s servicing technology to automate complex, high-volume tasks and workflows, deliver a better customer experience, and adapt in real-time to constantly evolving customer and regulatory requirements.

About Author: Eric C. Peck

Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com.

Check Also

Federal Reserve Holds Rates Steady Moving Into the New Year

The Federal Reserve’s Federal Open Market Committee again chose that no action is better than changing rates as the economy begins to stabilize.