2022 Year in Review: a Pivotal Year of Transformation for Concord Servicing

2022 Year in Review: a Pivotal Year of Transformation for Concord Servicing
Scottsdale, AZ, February 09, 2023 --(PR.com)-- Since the company’s inception more than 30 years ago, Concord Servicing has driven strong loan portfolio performance for customers through their investments in people, innovation, technology, and world-class service. Looking back at key highlights from 2022, it is evident this past year was a pivotal one for the organization. Concord embarked on a new journey toward unprecedented growth and innovation and is excited about the opportunities ahead.

Inverness Graham partnership
In February 2022, Inverness Graham, a private investment firm that focuses on high-growth, innovative manufacturing, technology, and services companies invested in Concord. This exciting partnership is providing Concord Servicing with new resources to expand capabilities and solidify market-leading position. It also offers an unprecedented opportunity to accelerate the company’s growth and expansion into new areas of business.

“Technology is the engine that drives businesses today,” says Jason Alexander, Concord CEO. “We want to evolve our business beyond loan servicing to become a key player in the fintech space. To do this, we need to strategically innovate our technology to gain a competitive advantage in the marketplace. With Inverness Graham, we now have the tools to begin that evolution.”

Top-tier performance
Concord experienced record-breaking growth in 2022, securing multiple new client relationships in the residential solar and home improvement markets. In addition, relationships with key existing accounts through services like Blackwell Recovery collections, lien management, and backup servicing expanded. Notable performance highlights for 2022:

· 15% year-over-year revenue growth
· 20%+ increase in portfolio size
· 100% commitment to our clients’ success

Concord’s strong performance in 2022 positions the company for future success, as the company works to achieve notable 2023 growth goals while expanding business into exciting new markets.

New leadership team
In November 2022, Concord introduced a new leadership team to help kick off a new era of growth and innovation at the company. The team’s combined expertise and vision will help advance Concord’s market position and transform the business for the future. Jason Alexander joined Concord as the new CEO, along with Chief Technology Officer/Chief Information Officer Kevin Clark, Chief Innovation Officer Adonis Bitar and Chief Creative Officer Steven Ray.

“As a technology company in the financial sector, we have a tremendous opportunity to add value for our customers by helping them anticipate what’s next for their business,” says Alexander. “This leadership team will be instrumental in helping us to look around the corner and execute on our vision to become a fintech leader.”

Concord has worked hard to earn their reputation as a premier loan servicing provider in the solar, energy efficiency, home improvement and vacation ownership markets. In 2022, Concord made some key investments in human capital and technology that set the foundation for the company’s future. In the year ahead, Concord will continue to enhance capabilities and increase value for customers as new ways to grow and transform the business are explored. The future is looking bright in 2023!
Concord Servicing
Shaun O'Neill