Mr. Cooper has announced a partnership with AI platform Persado that is says will help its customers discover more options when managing their finances.
The mortgage servicer piloted Persado's AI-generated language platform to help its existing customers better understand their options for several available services, such as mortgage check-ups, paperless enrolment, and home loan refinancing.
Based on the early testing, Mr. Cooper reported seeing "double and triple-digit" conversion lifts across those services, resulting in strong return on investments and customer retention.
"Mr. Cooper is a leader in the mortgage servicing industry, and we're pleased that Persado's AI-based language is driving stronger customer relationships and business results," Persado President Jason Heller said. "We look forward to our continued work with Mr. Cooper and helping more of their customers."
As the coronavirus pandemic changes the priorities of individuals and organizations, Mr. Cooper emphasized the importance of better conveying mortgage options to customers during this crisis.
"At Mr. Cooper, we are hyper-focused on providing a customer-centric experience, and we aim to provide our customers with helpful information and resources as they manage their home loan – which all starts with the communication they receive from us," said Kelly Ann Doherty, chief people and communication officer at MR. Cooper. "Persado set ambitious goals for how their AI platform would perform for us, and they exceeded expectations for both levels of service and overall results. We're excited to see the positive impact this is having on our customers' experience with more effective communications at each touchpoint."