In its latest integration with Capsilon, real-time financial data aggregation and insights specialist Finicity is bringing mortgage origination into the 21st century – one partner at a time. An intelligent process automation software provider, Capsilon will combine Finicity’s Verification of Assets (VoA) solution with its own borrower and loan officer workspaces to automate the asset verification process.

“We’re excited to work alongside Capsilon with the shared goal of transforming the difficult manual mortgage origination processes of today into a modern and digital experience of the future,” Finicity CEO Steve Smith said. “Finicity’s VoA reports are a key part of the next-generation mortgage process.”

Capsilon COO Jim Obsitnik underscored the importance of digital transformation in the mortgage industry. “Those who invest in the right technology now will gain a competitive advantage to help them minimize risk and accelerate growth as the market changes,” Obsitnik said. He added that the partnership would “speed up the application process and deliver better borrower and loan officer experiences.”

Demonstrated live at FinovateFall last year, Finicity’s Verification of Assets (VoA) reports are part of the company’s suite of credit decisioning solutions. VoA provides bank-validated insights into the assets of prospective borrowers to enable lenders to readily identify those issues that impact the credit decisioning process. VoA reports include information on multiple financial institutions and accounts, as well as data on account types, balances, and detailed transactions. These reports, along with those from the company’s Verification of Income (VoI) solution, are delivered under the CRA framework, enabling borrowers to access information in the reports directly, as well as submit any disputes.

Headquartered in Salt Lake City, Utah, Finicity has spent much of 2018 in partnership mode. Last month, the company signed a secure data exchange agreement with Capital One. In July, Finicity partnered with Cre8tech Labs’ Lender Price, integrating its VoA solution into the Lender Price’s digital lending platform. Fellow Finovate alum Mortgage Cadence integrated Finicity’s VoA technology into its loan origination platform in May. This spring, the company teamed up with another fellow alum, BeSmartee, to add VoA to BeSmartee’s POS mortgage origination platform.

Finicity has raised nearly $80 million in funding, and includes Bridge Bank and Experian among its investors. The company was founded in 1999.

More data sharing and more security are the goals of a new secure data exchange agreement signed between Capital One Financial and real-time financial data aggregation and insights specialist Finicity. The announcement follows the company’s July data sharing agreement with USAA.

“Finicity is hyper-focused on delivering the data insights our partners need to drive their services and enable their customers to make better financial decisions,” Finicity CEO Steve Smith said. He called Capital One Financial an “excellent partner in pursuing these common goals of empowering consumers to have more access to their financial data and better manage their financial health.”

The agreement leverages Capital One’s Customer Transactions API to enable Capital One customers to securely share financial data with Finicity-supported third-party solutions and services. In addition to being able to access a broader range of resources for financial management, customers also will benefit from having increased control over how and when their data is used. The partnership with Finicity, according to Capital One, was in many ways spurred by the firm’s customers, whose demand for fintech solutions encouraged the bank’s decision.

“We know many of our customers actively use and rely on third-party services to help them manage and track their finances, and we appreciate the value these services provide,” Managing VP of Enterprise Digital Products and Data Connections at Capital One Becky Heironimus said. Customer migrations are expected to begin in the first quarter of 2019. At that time, Capital One customers will be able to connect with the financial solutions that use Finicity’s financial data API.

Finicity’s real-time financial data aggregation and insights platform provides FIs with financial management, payment initiation, and credit decisioning solutions. The company seeks to empower account owners by democratizing financial event data, improving the security of data delivery, and driving innovation by making it easier for consumers to access the fintech solutions they want most.

Founded in 1999 and based in Salt Lake City, Utah, Finicity demonstrated its Credit Decisioning solution at FinovateFall 2017. The company is also an alum of our developers conference, having presented The Frictionless Aggregation Experience at FinDEVr New York 2017.

Last month, Finicity announced a pair of new partnerships. The company integrated with SimpleNexus’ enterprise digital mortgage platform and mobile app to automate the borrower asset verification process for lenders. Finicity also integrated its asset verification technology into Cre8tech’s Lender Price Digital Lending platform. Other major partnerships this year include collaborations with digital lender Blue Sage and fellow Finovate alum Mortgage Cadence.

Awarded API World’s 2016 Finance API of the Year and named to the 2018 HousingWire Tech100, Finicity has developed more than 16,000 bank integrations. The company has raised more than $50 million in funding, and includes fellow Finovate alum Experian and Bridge Bank among its investors.

With the goal of streamlining and improving the customer experience in mortgage lending, real-time financial data aggregation innovator Finicity has announced a new collaboration with financial services technology provider Cre8tech Labs. The first step in the partnership will integrate Finicity’s Verification of Assets (VoA) solution into Cre8tech’s Lender Price Digital Lending platform.

“Consumers understandably want the most accurate information when making a life-altering purchase like a new house,” CEO and co-founder of Finicity Steve Smith said. “Lenders want to meet those expectations while improving efficiency and profitability.” Smith praised Lender Price as a “disruptor” that was “enhancing the mortgage lending experience for borrowers and lenders with a smart, digital solution.”

The new digital lending experience will combine the improvements in accuracy and fraud reduction from Finicity’s credit decisioning technology with Lender Price’s pricing and eligibility engine. Borrowers benefit from a seamless, paper-free process that draws financial information directly from financial institutions, and a digital application experience that supports collaboration between the loan officer and borrower.

Cindy Douglas, Mountain West Financial implementation and onboarding specialist, praised the technology for improving efficiency for loan officers and reducing time to close. “We’re excited to provide our borrowers with the exceptional customer experience of automated VoA reports,” Douglas said. She added, “improvements to our digital mortgage process are crucial to making homeownership a reality for our communities.”

Founded in 1999, Finicity demonstrated its Credit Decisioning technology at FinovateFall 2017. In addition to unveiling a new status page for administrators and developers (status.finicity.com) to enable visibility into real-time API and FI connection uptime, the company demonstrated its Finicity Reports product. Finicity Reports is an online portal that enables lenders to order consumer financial reports that leverage consumer-permissioned data.

Finicity is also a veteran of our developers conference, having most recently presented The Frictionless Aggregation Experience at FinDEVr New York 2017.

Headquartered in Salt Lake City, Utah, Finicity has raised more than $50 million in funding, and includes Bridge Bank and fellow Finovate alum Experian among its investors. The company acquired Aurora Financial Systems – also a Finovate alum – in 2015.

In recent months, Finicity forged a data sharing agreement with USAA, and announced a new partnership with Mortgage Cadence to integrate its Verification of Assets solution into Mortgage Cadence’s loan origination platform. This spring, the company integrated its VoA technology with digital mortgage marketplace provider BeSmartee, and teamed up with borrower-centric digital lending platform MortgageHippo.