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Customer Spotlight: 5 Questions With PRMG

by | Sep 29, 2020

We virtually sat down with PRMG’s VP of Products and Training, Lara Rausch, to get her thoughts regarding the partnership between Capacity and PRMG. In her role, she is responsible for ensuring loan product guidelines incorporate agency and investor requirements and are accurate and up-to-date. We’re happy to report that our product is helping her and her team do their best work. 

Q: Why did you choose to work with Capacity?

A: PRMG was on the lookout for technology that it could use to advance and streamline the lending process for not only borrowers and our customers but also for our loan originators and operational employees.

Even before learning about Capacity, the PRMG team was actively looking for a solution where employees could access instant answers to their questions. Capacity gained our attention through its ability to instantly provide loan information to staff’s fingertips via the AI bot.

We started a COVID-19 pilot with Capacity to get a feel for the experience and gauge our employee’s interest in using the tool. Once the team provided positive feedback and we saw that it was easy to maintain and implement, we knew that we wanted to start using Capacity for day-to-day activities in the loan process.

Even by just starting to work with your team, we’ve already seen developments that you’ve created to accommodate our needs, and I can already tell it’s going to open the door for our users to self help themselves to our loan products.

Q. What problem were you looking to solve?

A. Maintenance was an ongoing concern from the very beginning. We were looking to find a solution that would keep products and support material up to date since information and guidelines go stale so quickly. Capacity’s ability to crawl pdf documents and guidelines and provide answers to questions based on the information in those pdfs lifted the burden of maintaining data in multiple places. PRMG values the ability to point originators to the internal Capacity AI bot for answers regarding source material and the loan product.

We were also looking for a solution that could help us scale. Right now we have so many places that everybody has to go to find information, which results in people going to multiple places to find a single answer. We really wanted to streamline that for simplicity and efficiency for our staff members. By getting everyone on board with one single source that can answer all of their questions, it’s really going to streamline the process.

The more we use Capacity, the better it gets at answering questions, which means we can proactively use our support staff to encourage the use of Capacity and enhance the knowledge base to support more and more inquiries. 

Q. What were you afraid of before buying our solution?

A. We couldn’t have a tool that we had to manually update every time that we needed to update our guidelines. It would be overwhelming to use a solution that required us to make all of the updates in multiple locations. We needed software that was smart enough to monitor changes and make the updates for us, and that’s what we found in Capacity.

Q. How would you describe our product?

A. Capacity is an automated self-help tool that allows us to streamline information in a single source so that our team members can use it to access answers to their questions. 

Q. Where do you see Capacity working with your company in the future?

A. Ultimately, we want everyone to go to Capacity (or what we refer to as MOBI, which is an acronym for My Online Business Intelligence) whenever they have questions about any areas in the organization including tech support, HR, benefits, servicing, pricing, loan status, loan guidelines and really any area you can think of. 

Though we are currently looking to use Capacity to support PRMG staff, ultimately, I could see us enabling borrowers with Capacity, so they can find information about their loan status, who is servicing their loan, or who they should reach out to if they have a specific question. I also could see brokers using Capacity to get a status on their loans or find product information. Basically, there are a ton of applications that we could use Capacity for in our business. 

While we recognize that every organization has different needs, we realized that sharing first-hand feedback from our customers might help another organization take another step towards doing their best work!