NestReady to Enhance the Homebuying Experience at West Community CU

Courtesy of a partnership with NestReady, Missouri-based West Community Credit Union will soon offer a new and improved homebuying experience to its 26,000 members. The partnership between West Community CU and NestReady came about after the credit union’s president and CEO, Jason Peach, attended an event at fintech accelerator SixThirty.

“Our credit union strives to be very early adopters of technology that will enhance our members’ experience,” Peach said. “Being at the leading edge of innovation is important as there are many larger financial institutions as well as non-banks vying for our members’ business.” He praised NestReady’s technology as “a transparent environment” that “streamlines the more challenging aspects” of buying a home.

NestReady demonstrated its white label, end-to-end, homebuying platform at FinovateFall 2018. The technology automates many of the more cumbersome, labor-intensive steps in the mortgage process. It also leverages artificial intelligence and machine learning to give lenders actionable insights during the customer journey to ensure they are able to effectively engage the homebuyer at critical steps in the purchase process. The goal is to help boost the credit union’s role in the full homebuying experience – from the initial home search and discovery all the way through financing.

“Enabling (credit unions) to offer a true end-to-end homebuying experience and making them the trusted brand for every homebuying need is our primary focus,” NestReady CRO Marcos Carvalho said. He added that the company’s technology would help West Community CU “increase engagement and build loyalty.”

Awarded the Midwest Excellence Institute (MEI) Missouri Quality Award in 2018, West Community Credit Union serves members and businesses in St. Louis, St. Charles, and Boone counties. Founded in 1936 as Brentwood Mutual Credit Union, West Community CU has grown into one of the ten largest credit unions in Missouri, with assets of more than $260 million. The credit union, headquartered in O’Fallon, operates eight branch locations as well as mortgage lender West Community Mortgage, which it launched in 2017.

One of Finovate’s newer alums, NestReady announced in June that it was partnering with technology and marketing credit union service organization, CU Solutions Group (CUSG). NestReady also reported in that announcement that CUSG had made an investment in the company, though the amount was not disclosed. This spring, NestReady announced that a new partnership will also bring its technology to the loan originators of South Carolina mortgage banking company, Resource Financial Services.

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NestReady Inks Deal with CU Solutions

Credit union service organization, CU Solutions Group, is teaming up with NestReady to “expand and enhance the delivery of NestReady solutions to credit unions.” The Newcastle, Delaware-based mortgagetech, which debuted at FinovateFall last year, gives lenders an end-to-end digital homebuying solution that delivers better customer engagement and higher conversions.

“Using AI and machine learning to create transparent environments that allow loan originations at credit unions and real estate professionals to collaborate will create a stellar homebuying experience for members,” NestReady co-founder and CEO Mauro Repacci said. “Our platform eliminates pain points in the homebuying process and gives loan originators the chance to deepen their relationship with members.”

NestReady’s solutions integrate readily into the credit union’s current mortgage lending process. Intent-based marketing powered by machine learning, and automated sales activities driven by AI are among the benefits NestReady provides mortgage lenders. The mobile-first technology offers homeownership engagement platforms to identify when customers are ready to make the next move in their homebuying journey. The company also provides CRM-integrated actionable insights to help lenders best accommodate that moment.

With more than 3,400 customers in the U.S., CU Solutions Group said it will use its existing suite of solutions and its client base to coordinate the marketing and sales of NestReady solutions. The organization is based in Livonia, Michigan, and is majority-owned by the Michigan Credit Union League.

“In today’s changing market, credit unions are always looking for new and valuable resources to help their members,” CU Solutions Group President and CEO Dave Adams said. “Our agreement with NestReady will connect credit unions with a partner that not only provides the online home search capability that members have come to expect, but also resources that (simplify) the home buying process.”

The partnership also includes an investment – amount undisclosed – in NestReady. The company has raised $5.7 million in funding as of the end of 2018, and includes the National Bank of Canada, TechStars, 500 Startups, BDC Capital, 7Seas Partners, Stage1Ventures, and NXT Ventures among its existing investors.

Founded in 2012, NestReady made its Finovate debut last year at FinovateFall 2018, demonstrating its NestReady Total Homeownership Experience platform. The technology uses AI and machine learning to automate much of the mortgage lending process, and leverages consumer behavior analysis and psychographics, real estate transactional data, and other sources to give mortgage lenders insights during the customer lifecycle to ensure “the right action at the right time.”

Recent headlines for NestReady include the company’s partnership with Resource Financial Services, a mortgage banking company based in South Carolina, announced in March. Resource Financial is using NestReady’s machine learning technology and predictive analytics to help its loan originators better understand customer behavior and preferences.

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FinovateFall Sneak Peek: NestReady

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

NestReady uses machine learning to position lenders at the center of the consumer home buying journey.

Features

  • Control over the home buying journey
  • Actionable insight and automation around the customer lifecycle
  • Reduce customer acquisition costs while increasing retention

Why it’s great
Only an integrated digital home buying journey combined with NestReady’s predictive analytics models can empower mortgage lenders with actionable insights to thrive in our challenging landscape.

Presenter

Frederick Townes, Chief Technical Officer
Townes is a serial entrepreneur, technologist, and angel investor from Boston who served as co-founder and CTO of Placester and Mashable. He is the co-founding CTO of NestReady.
LinkedIn

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NestReady Collaborates with Alterna Savings on Home Buying Solution

NestReady, a startup aiming to simplify the home buying process, announced this week it has teamed up with Alterna Savings to help the credit union’s clients find their new home. The move comes about a year after NestReady finalized a partnership with Alterna Savings’ wholly-owned subsidiary, Alterna Bank.

Through the partnership, the NestReady platform will be available on Alterna Savings’ website, allowing its 158,000 members to find properties that match their search criteria. The integration of NestReady with Alterna Savings offers a holistic platform that lets users scan the real estate market, save their favorites, connect with local agents, and finance the home.

Rob Paterson, Alterna Savings president and CEO said, “Thanks to our partnership with NestReady, we’re empowering today’s homebuyers who use the internet as their primary resource to search for their dream home… Our members can now use NestReady’s new homebuying tool.”

Founded in 2012 as Navut, NestReady pivoted in 2017 to broaden its focus from neighborhood data provider to a more robust property search platform. The company has raised $2 million in funding. NestReady will showcase its newest offering for banks at FinovateFall next month. Register today to save your seat.