A new partnership between Ellie Mae and First Data will make it easier for Ellie Mae customers to securely accept payment for costs related to loan origination, processing, underwriting and credit reports.
First Data will integrate with Ellie Mae’s Encompass Consumer Connect lending platform. Part of Ellie Mae’s Digital Mortgage Solution, Consumer Connect enables borrowers to apply for mortgages online, engage with loan officers, and securely eSign and upload documents. The technology provides lenders with a customized digital mortgage workflow that leverages automation to deliver a streamlined experience across functions. Ellie Mae will leverage First Data’s BluePay Gateway, part of the company’s CardConnect ISV platform, which helps companies add secure payment processing within SaaS, mobile, and POS apps.
“First Data is thrilled to deliver our fast, simple and secure payment technology to the banks, credit unions, and mortgage lending companies Ellie Mae serves,” EVP and Head of CardConnect at First Data, Jeff Shanahan said. “Our relationship will enable Ellie Mae to deliver a simple and secure solution for its clients and further enhanced consumer engagement for lenders.”
Ellie Mae demonstrated Encompass Consumer Connect at FinovateSpring 2017. In addition to the lending platform, the company introduced its set of developer tools – including APIs, interactive documentation, and API playground – called Encompass Developer Connect. Earlier this year, Ellie Mae teamed up with mortgagetech innovator Blend, who will leverage Ellie Mae’s electronic disclosure delivery, part of its Encompass mortgage solution. Also this spring, the company announced an integration with Lender Price, the digital mortgage platform from Cre8tech Labs, and partnered with fellow Finovate alum Finicity. The agreement between the two companies will integrate Finicity’s digital verification of assets technology into Ellie Mae’s Encompass solution.
Headquartered in Pleasanton, California, and founded in 1997, Ellie Mae has more than 1,000 U.S.-based workers and revenues in 2017 of $417 million. The company serves 3,500 financial institutions and mortgage lending firms, and processes more than a third of all mortgage loan applications in the U.S. Ellie Mae trades on the New York Stock Exchange under the ticker “ELLI” and has a market capitalization of $3 billion. Jonathan Corr is CEO.