Finovate Alumni News

On Finovate.com

  • Ping Identity Preps for $100 Million IPO.
  • ProfitStars Reaches 500 Bank and Credit Union Customers for Commercial Lending Solution.

Around the web

  • PYMNTS interviews  Bento for Business Co-Founder and CEO Farhan Ahmad.
  • OnPay partners with Xero to bring back-office services to the agricultural industry.
  • Innov8tif selects ID R&D’s Passive Facial Liveness for remote customer onboarding.
  • LoanScorecard to power new QuickQual loan solution from Angel Oak.
  • ACI Worldwide to help Massachusetts-based Nichols College enhance its payment processes.
  • Revolut bolsters executive ranks with appointment of new treasurer, deputy Chief Financial Officer, and director of financial crime risk.

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.

Finovate Alumni News

On Finovate.com

  • Analyst All Stars: Top Takes on Fintech’s Hottest Trends.
  • Artivest Inks Deal with WM Partners.

Around the web

  • Schmidt List podcast hosts ClickSWITCH CEO and Cofounder Cale Johnston.
  • LoanScorecard partners with LoanStream Mortgage to power QualONE.
  • Avaloq onboards Banque Morval onto Intesa Sanpaolo’s BPaaS solution.
  • Jumio joins NICE Actimize’s financial crime, risk management based ecosystem, X-Sight Marketplace.
  • CashFlows partners with Akamai to defend against cybercrime, including Distributed Denial of Service (DDoS) attacks.
  • Bpm’online wins Best CRM Solution for Enterprises at MarTech Breakthrough Awards.
  • Kony launches Conversational AI DevKit to enhance the customer experience.
  • Trustly appoints Louise Nylén as Chief Marketing Officer.
  • Expensify adds CPE credits to its accountant training and certification course.

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.

Finovate Alumni News

On Finovate.com

  • Content Capture Innovator Ephesoft Allies with Grant Thornton.
  • Gusto Raises $200 Million with $3.8 Billion Valuation.

Around the web

  • TD Ameritrade offers voice-activated investing technology.
  • NIIT Technologies’ revenue grew 16+% YoY, and its after-tax profit increased 2% YoY.
  • Scalable Capital partners with Futurae to add multi-factor authentication technology into its investment platform.
  • LoanScorecard goes live with its Bank Statement Analyzer tool.
  • Betterment adds savings and checking accounts to its offerings.
  • U.K. neobank revverbank to deploy cloud banking technology from Finastra.
  • CardFlight partners with PAX Technology to make SwipeSimple terminal available to clients on the PAX A920 and PAX A80.
  • Australia’s Volt Bank teams up with FIS to power its mobile and card payment services.
  • Alterna Bank unveils its new advanced digital platform, Forge, powered by Backbase.

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.

Finovate Alumni News

On Finovate.com

  • Workday Buys Blockchain-Based Identity Management Innovator Trusted Key.
  • nCino Acquires Analytics and Insights Specialist Visible Equity.

Around the web

  • Token.io announces partnership with U.K. property marketplaces StuRents and Mashroom.
  • Identity verification specialist Onfido partners with international payments provider Currencies Direct.
  • NewFi Wholesale implements LoanScoreCard’s automated underwriting system Portfolio Underwriter.
  • Apply Financial, Currencycloud collaborate to simplify cross-border payments.
  • Lending Club offers Levered Certificates backed by over $100 million in loans on its marketplace.

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.

LoanScorecard Partners with Nations Direct Mortgage to Power Pricing and Scenario Tool

Non-agency automated underwriting systems (AUS) provider LoanScorecard announced its latest partnership this week. The company is teaming up with Nations Direct Mortgage (NDM) to power its loan pricing and scenario solution, DirectQual.

Calling broker education on non-qualified mortgage products a major challenge for wholesale lenders like Nations Direct Mortgage, LoanScorecard Executive Director Ben Wu highlighted why NDM’s new tool will be part of the solution. “DirectQual allows brokers who work with or are considering working with NDM to not only see products and pricing, but also determine borrower eligibility – so they can accelerate the Non-QM origination process and provide a better borrower experience,” Wu said.

Driven by LoanScorecard’s Portfolio Underwriter technology, DirectQual will enable brokers to import loan scenarios and assess eligibility for Nations Direct Mortgage’s Non-QM loan programs. The solution both simplifies the process and makes it easier for brokers to match the right program with the right borrower.

Director of Lending for NDM Martin Warren called the technology “a tremendous tool for our brokers to simplify the pre-qual process and get results for their Non-QM borrowers – consistently and quickly.” He listed broader engagement with more brokers, better broker education on Non-QM products, and the ability to deliver quick pre-qualifications among the bigger benefits of the platform.

A wholesale mortgage lender founded in 2007, Nations Direct Mortgage originates and purchases residential mortgage loans, including FHA, Conventional, VA, USDA, and Jumbo products. The Santa Ana, California-based company also offers three Non-QM loan products: Income Direct, Credit Direct, and Investor Direct.

LoanScorecard demonstrated its Portfolio Underwriter technology at FinovateFall 2018. Portfolio Underwriter is an agency-agnostic, underwriting engine that gives capital market investors, banks, and credit unions the ability to quickly analyze loan information based on their own unique offerings and specifications. The solution makes it easier to deploy capital most effectively, is more efficient and consistent than manual underwriting, and helps ensure that mortgage operations comply with fair lending regulations.

Founded in 2012 and headquartered in Irvine, California, the company has been on a strong partner-making pace of late. Last month, LoanScorecard announced it would power the new automated underwriting system Acorn from Sprouts Mortgage. In May, the company integrated Calyx Software’s Path LOS into its SimpleCECL solution to make it easier for FIs to conduct loan level current expected credit loss (CECL) analysis.

Finovate Alumni News

On Finovate.com

  • Mambu and Salt Edge Team Up to Boost PSD2 Compliance.
  • RightCapital Partners with Wealth Manager CircleBlack.
  • Mastercard Works with P27 to Launch Real Time Payments in the Nordics.

Around the web

  • Product and pricing control solution provider Zafin announces alliance with end-to-end IT services firm DXC Technology.
  • Trade finance and supply chain expert David Hennah joins IGTB.
  • LoanScorecard to powerACORN, the new automated underwriting system from Sprout Mortgage.
  • FinovateFall Best of Show winner SpyCloud takes home top honors at SourceMedia’s 2019 Digital Banking conference.

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.

Finovate Alumni News

On Finovate.com

  • Onfido Delivers ID Verification to Mobility-as-a-Service Firm Drover.
  • Segmint powers data analytics for Buzz Points.

Around the web

  • Paysend announces its new stablecoin will be available on the Stellar Network in June.
  • LoanScorecard forges partnership with Calyx Software, merging its SimpleCECL solution with Calyx’s Path LOS.
  • Digital Onboarding will join Best of Show winners Voleo and Neener Analytics as part of the fourth annual FIS Fintech Accelerator program.
  • Chartis Research recognizes FICO as a category leader in AI for Financial Services.
  • Judo Bank of Australia goes live with Temenos’ T24.
  • Xero launches new feature in the Xero Projects iOS app that suggests project time based on geolocation

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.

Finovate Alumni News

On Finovate.com

  • Five Degrees Teams Up with ieDigital to Launch Digital Banking Portfolio.
  • Sezzle’s $100 Million Line of Credit to Fuel Delayed Payment Tool.

Around the web

  • LoanScorecard unveils SimpleCECL, its solution for loan-level analyses for Current Expected Credit Loss (CECL).
  • Onfido wins 7th place in Deloitte’s 11 fastest growing tech companies in the U.K. roster.
  • OutSystems earns recognition in two categories of the 2018 Gartner Peer Insights Customers Choice reviews: Mobile App Development Platforms and Enterprise High-Productivity Application Platform as a Service (HPaPaaS).
  • Payment Ninja introduces new invoice management feature of its platform.
  • Diebold Nixdorf inks Memorandum of Understanding with Europol to boost cybersecurity knowledge sharing.
  • Entersekt announces plans to expand to Nordic region.
  • RightCapital partners with Commonwealth.
  • Onfido, Azimo, TransferWise, and Kantox earn spots on Deloitte U.K.’s Fast 50.

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.

Finovate Alumni News

On Finovate.com

  • CardFlight Launches SwipeSimple Customers to Support Card Data Management.
  • Roostify Teams Up with Ellie Mae to Boost Efficiency in Mortgage Lending.

Around the web

  • Experian and Close Brothers Retail Finance pilot Mobile for Credit service for U.K. gamers.
  • New Penn Financial goes live with Portfolio Underwriter from Loan Scorecard.
  • PasswordPing earns finalist spot in 2018 “Innovation Quotient” IQ Awards.
  • Ukraine’s Akhmetov Bank leverages Corezoid’s cloud-based operating system.
  • ebankIT and Enterprise Engineering forge strategic partnership for the North American market.
  • Bambu, Eltropy, Moxtra, and Onfido are among the startups selected for Plug and Play Singapore’s inaugural fintech and insurtech program.
  • TECHdotMN profiles Sezzle founder and CEO, Charlie Youakim.
  • Forbes Middle East highlights Ayasdi and ThetaRay in look at how AI is helping solve financial crime.

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: Loan Scorecard

A look at the companies demoing live at FinovateFall on September 24 through 26, 2018 in New York. Register today and save your spot.

Portfolio Underwriter from LoanScorecard is the only underwriting engine outside of the agency box. Investors, banks, and credit unions can analyze loan data for unique product guidelines in seconds.

Features

  • Underwriting Efficiency / Consistency / Increased Production
  • Risk & Compliance Management / Protects from Fair Lending Violations
  • Growth for Non-QM Channels / Serve More Borrowers

Why it’s great
Along with DU and LPA, Portfolio Underwriter is the third leg to the automated underwriting ecosystem and the key to serving more borrowers and increasing production.

Presenter

Raj Parekh, Digital Mortgage Strategist
Parekh leads the development and delivery of digital mortgage solutions that increase efficiency for investors, portfolio lenders and brokers, and improve the customer experience for borrowers.
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