Finovate Alumni News

Around the web

  • New partnership makes Venmo a payment option for Uber and Uber Eats.
  • Hedgeable announces plan to end management of accounts by mid-August.
  • IdentityMind Global to provide KYC for Ontology Trust Ecosystem.
  • Socure named to Red Herring Top 100 in North America for 2018.
  • Mortgage Cadence integrates compliance auditing and monitoring into its loan origination platform.
  • Bluefin and Verifone team up to boost payment security with PCI-validated Point-to-Point Encryption (P2PE).
  • Twisto payment platform goes live in Poland this week.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finicity Forges New Partnership with Mortgage Cadence

Financial data aggregator and insights provider Finicity continues to make moves in mortgagetech by partnering with fellow Finovate alum, Mortgage Cadence. The two have teamed up to integrate Finicity’s Verification of Assets (VoA) solution into Mortgage Cadence’s loan origination platform.

“Our goal as a financial data aggregator is to find best-in-class partners who are also committed to data access, quality, and insights, and ultimately a better experience for borrowers,” Finicity CEO Steve Smith said. “We are excited to work with Mortgage Cadence to accelerate and improve the digital loan process.”

A short online process lets borrowers give consent to have their financial data accessed, enabling lenders using Mortgage Cadence with the VoA integration to generate a verification report with a single click. This, according to Finicity, can cut the traditional closing time by as much as six days.

Finicity’s VoA solution provides bank-validated insight into the borrower’s assets including information on accounts at multiple financial institutions, account types, balances, and detailed transactions, as well as the account owner(s) and address(es). Available via a simple API integration, the technology enables lenders to digitize and streamline asset verification.

“Our agreement with Finicity simplifies yet another important step in the mortgage process for both borrowers and lenders, getting everyone involved in the transaction to the closing table more quickly and with fewer steps,” executive managers of Services Center for Mortgage Cadence Brian Benson said.

Finicity demonstrated its Verification of Income (VoI) and Verification of Assets (VoA) credit decisioning solutions at FinovateFall 2017. Founded in 1999 and headquartered in Salt Lake City, Utah, Finicity has raised more than $50 million in funding and includes fellow Finovate alum Experian among its investors. The company has also been a contributor to our developers conference, FinDEVr, presenting “The Frictionless Aggregation Experience” at FinDEVr New York 2017.

Winning the FinTech Breakthrough Awards’ Best Personal Budgeting Service category earlier this month for its Mvelopes solution, Finicity partnered with digital mortgage marketplace provider BeSmartee in March, integrating its Verification of Assets solution into BeSmartee’s point-of-sale mortgage origination platform. The same month, Finicity announced that its asset verification technology would be integrated with Ellie Mae’s Encompass digital mortgage solution.

Making its Finovate debut at FinovateFall 2017 last year, Mortgage Cadence demonstrated its Collaboration Center. The platform provides lenders with a secure, multi-party communications portal that brings all parties, their workflow and information for the loan into a single, secure location.

Mortgage Cadence’s deal with Finicity is the company’s latest initiative to enhance its platform’s asset verification capabilities. In April, Mortgage Cadence integrated FormFree’s AccountCheck asset verification service into its Enterprise Lending Center. In terms of partnerships, the company secured the largest credit union in Oklahoma, Tinker Federal Credit Union with more than $3.6 billion in assets and 360,000+ members, as a technology partner in March.

Founded in 1999 and with offices in Denver, Colorado, and Minneapolis, Minnesota, Mortgage Cadence is a wholly owned subsidiary of Accenture, and serves more than 600 lenders across the U.S.

Finovate Alumni News

On Finovate.com

  • Arxan Brings its App Protection Technology to Android.
  • BondIT Integrates Bond Portfolio Solution with FIIG Securities.
  • Dwolla Launches Start, a Pay-as-You-Go Payment Solution.
  • Intelligent Environments Rebrands as ieDigital.
  • Finicity Forges New Partnership with Mortgage Cadence.

Around the web

  • Low-code development specialist OutSystems launches OutSystems Sentry, a new proactive security monitoring service for the company’s PaaS clients.
  • PayPal acquires Jetlore, an AI-powered prediction engine for retailers.
  • Halma partners with OurCrowd for life protection technologies.
  • CNP Awards recognizes ThreatMetrix for ThreatMetrix ID.
  • EY names Flywire CEO Entrepreneur of the Year finalist in New England.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

FinovateFall Sneak Peek: Mortgage Cadence

A look at the companies demoing live at FinovateFall on September 11 through 14 in New York. Pick up your tickets today and save your spot.

Mortgage Cadence’s product, Collaboration Center, delivers on the company’s vision of being the last lending solution their customers will ever need through secure lending communications.

Features

  • Secure multi-party collaboration
  • Built-in messaging and real-time chat feature with time stamps for audit logging
  • Accelerated processing through automated document comparison

Why it’s a must-see
What if lending communications were safe again? Where traditional email falls short, Collaboration Center delivers with a secure, multi-party communication portal.


Presenters

Todd Hougaard, Product Manager
Todd Hougaard is Product Manager at Mortgage Cadence after formerly being the President and Founder of BeesPath Inc., whose ClosingBridge technology was acquired by Mortgage Cadence in 2017. Prior to BeesPath, he was the founder of Ingeo Systems, which was an early pioneer in in the field of SMART Docs, e-mortgages, eSignatures, eNotarization and eRecording. He was also a principal at GreenFolders, a paperless office solution for title and settlement agents, which was purchased by First American in 2011. At First American, he managed the sales operations of the SMS division and went on to launch the Rizolv consumer complaint management business. He is an active member of the American Land Title Association and serves on the Technology Committee. Todd holds a B.S. in Geography from Utah State University.
LinkedIn


Marc White, Sales Engineering Lead
White leads the national technology evaluation team for Mortgage Cadence. With 6+ years of industry experience, his passion for technology-empowered change inspires his work.
LinkedIn

 


Check out more previews of upcoming FinovateFall presentations. Visit our registration page to save your spot.