Informative Research now offers Finicity’s full digital verification suite of products: assets, income and employment. Our VOA, VOI and VOIE solutions can now help lenders at every step of the loan cycle.
For the third consecutive year, Finicity has been named to the HousingWire Tech100 Mortgage list. The list includes companies who are the most innovative in the U.S housing economy. Finicity simplifies the mortgage process for lenders and borrowers with digital verification of assets, income and employment. Read more about Finicity or view the entire mortgage list.
Finicity CEO Steve Smith discusses what Utah’s canyons, ski resorts and recreation opportunities have meant to the growing fintech and technology industries as well as what needs to happen in the future to make sure it’s still a draw and not a hindrance. Read his and other’s thoughts on connecting Utah’s ski resorts.
SALT LAKE CITY, Utah — February 5, 2020 — Finicity has been named one of the 2020 Best Places to Work in Financial Technology by Arizent and the Best Companies Group. This is the third consecutive time Finicity has received this Best Place to Work in Financial Technology award. Finicity is one of 10 companies to have been included on every Best Places to Work in Financial Technology list.
At Finicity, the company culture centers around one word — Uplift. Our uplift values include urgency, purpose, leverage, insight, focus and teamwork. Read about how Finicity develops a meaningful culture across our entire company and keeps team members inspired and motivated by the work they do.
The 2020 list was published by Arizent brands American Banker, National Mortgage News, PaymentsSource, Financial Planning and Digital Insurance.
“The competition for talent in technology is intense and companies named to Arizent’s Best Places to Work in Financial Technology are setting the standard in terms of cultures that help people thrive,” said Richard Melville, Group Editorial Director at Arizent.
This annual survey and awards program is designed to identify, recognize and honor the best employers in the financial technology industry. Companies recognized on this year’s list operate in and serve companies and consumers in a wide range of financial services including banking and mortgages, insurance, payments and financial advisory.
To be considered for participation, companies must provide technology products, services, or solutions that enable the delivery of financial services. Companies must also have been in business for at least one full year and employ at least 15 people in the U.S.
For more information on Arizent’s Best Places to Work in Financial Technology program, including full eligibility criteria, visit www.BestPlacestoWorkFinTech.com.
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About Finicity:
Finicity’s mission is to help individuals, families and organizations make smarter financial decisions through safe and secure access to fast, high-quality data. The company, which launched its first financial product in 2000 and has since grown to provide financial data APIs, credit decisioning tools and financial wellness solutions, partners with influential financial institutions and disruptive FinTech providers alike to give consumers a leg up in a complicated financial world. Finicity was awarded API World’s 2016 Finance API of the Year and is a 2018, 2019 HousingWire Tech100 winner. To learn more or test drive its API, visit www.finicity.com.
Watch a demo of Finicity’s digital verification of asset solution inside Ellie Mae Encompass and Consumer Connect \
Finicity CEO Steve Smith, writing for the Scotsman Guide, describes the benefits of a truly digital income and employment verification that flips the expectation of succes in the industry. Income and employment are the two key elements that demonstrate a borrower’s ability to manage and repay a loan. Extracting data from paystubs and matching it with permissioned bank account data results in a high-value data for lenders and much higher success rates than existing solutions. It also provides a better experience for borrowers.
Leading asset verification available in Point of Sale platform and Loan Officer portal
SALT LAKE CITY, UTAH and WOBURN, MASS.—January 13, 2020—Finicity, a provider of real-time financial data access and insights, announced that it has integrated its digital Verification of Assets solution into Volly’s Point Of Sale platform and Loan Officer portal. Volly is an industry-leading provider of SaaS-based marketing automation, CRM and POS solutions for banks and mortgage companies.
The partnership dramatically improves loan officer productivity, streamlines back-office processes, improves employee and partner experiences, enhances accuracy and reduces funding times. Finicity’s solution enables borrowers to rapidly share bank and brokerage asset data and eliminates the overly manual process of locating, downloading and uploading bank statements. It also provides a more secure process for asset verification.
“This integration brings our industry one step closer to a completely digital mortgage experience,” said Jerry Halbrook, CEO of Volly. “It also enables mortgage lenders to reduce originating costs, makes loan officers more productive and enhances the customer journey.”
“Today’s consumers expect a painless mortgage process powered by modern technology,” said Steve Smith, CEO of Finicity. “Our asset verification on Volly’s technology platform improves operational efficiency and the borrower experience.”
Finicity delivers asset verification through consumer-permissioned data, providing borrowers more control and insight over data used in the decisioning process. Finicity is known for high-quality data, which is accessed direct from financial institutions to verify asset balances, transaction data and account details.
Finicity is an authorized, integrated provider of asset verification reports for Fannie Mae’s Day 1 Certainty™ initiative and is a Freddie Mac Asset and Income Modeler (AIM) service provider.
Finicity’s verification solution is also delivered under the CRA framework, which allows borrowers to directly obtain information on reports or resolve discrepancies. Finicity’s status as a registered CRA is a symbol of its consumer-centric model as well as its dedication to the requirements of the lending space.
About Volly
Volly is powering the dream of home ownership through industry-leading technology and dynamic marketing that drives the customer journey. The Volly Platform is a fully integrated, cloud-based Software-as-a-Service platform that combines Customer Relationship Management (CRM), Point of Sale (POS), Marketing Automation and Custom Websites, all integrated with digital and print marketing capabilities and industry-leading creative marketing services. For more information, visit www.MyVolly.com or call (866) 435-7050.
About New Capital Partners
New Capital Partners (NCP) is a private equity firm headquartered in Birmingham, Alabama. NCP partners with niche, tech-enabled services companies in the healthcare, financial and business services industries. Leveraging its extensive operational experience, NCP helps create significant value in portfolio companies by focusing on one core goal: building great companies. For more information, please visit www.newcapitalpartners.com.
About Finicity
Finicity’s mission is to help individuals, families and organizations make smarter financial decisions through safe and secure access to fast, high-quality data. The company, which launched its first financial product in 2000 and has since grown to provide financial data APIs, credit decisioning tools and financial wellness solutions, partners with influential financial institutions and disruptive FinTech providers alike to give consumers a leg up in a complicated financial world. Finicity was awarded API World’s 2016 Finance API of the Year and is a 2018, 2019 HousingWire Tech100 winner. To learn more or test drive its API, visit www.finicity.com.
Steve Smith, Finicity CEO and co-founder, shares his thoughts on five key requirements that financial services providers need to emphasize to truly empower customers in this article entitled, “Financial Services Can Secure Innovation by Focusing on Trust.” He focuses on control, access, transparency, traceability and security and calls for an industry-wide commitment to enhancing each of these within the data sharing space. Read the full article here on Forbes.
Digital verification report speeds up lending process while improving digital experience for lenders and borrowers
SALT LAKE CITY, Utah – Dec. 4, 2019 – Finicity, a provider of real-time financial data access and insights, and Ellie Mae®, the leading cloud-based platform provider for the mortgage finance industry, today announced that Finicity’s digital Verification of Assets (VoA) solution is now available through Ellie Mae’s Encompass® Consumer Connect, part of the Encompass® Digital Lending Platform.
Today’s consumers expect an increasingly simple, fast and accurate application process. This has been made possible by digital solutions such as Finicity’s Verification of Assets which can shorten the application process by as many as 6 days. Now borrowers can access this solution through Encompass Consumer Connect matching an automated, enhanced customer experience with the efficiency of digital verification.
“We believe that consumer expectations are driving the mortgage lending experience to one that is simple and intuitive,” said Steve Smith, CEO and co-founder of Finicity. “We’re excited to partner with Ellie Mae through the Encompass Consumer Connect platform to deliver a next gen experience to borrowers while helping lenders create a more efficient origination process.”
Tedious applications and piles of paperwork detracts from the excitement of buying a first home. Integrating the Finicity solution into Consumer Connect streamlines the application and origination process for borrowers and helps lenders be more efficient and engaging while closing loans faster.
In addition to the availability of digital verification functionality in Consumer Connect, the companies have enabled data mapping for required fields into the 1003 application and loan officer notifications, as well as other enhancements, in Encompass.
Finicity is an authorized, integrated provider of asset verification reports within Fannie Mae’s Desktop Underwriter® (DU®), giving lenders a validated asset report through Fannie Mae’s Day 1 Certainty™ initiative, and the company is part of Fannie’s Single Source Validation (SSV) pilot. Finicity is also an authorized Freddie Mac Asset and Income Modeler (AIM) validation report provider within Freddie Mac’s Loan Product Advisor.
Finicity VOA reports in Encompass and Consumer Connect are available from our resellers including through our Experian partnership and their CRA resellers. To stay up to date on all Finicity company and product announcements, visit the website at www.finicity.com.
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About Finicity:
Finicity’s mission is to help individuals, families and organizations make smarter financial decisions through safe and secure access to fast, high-quality data. The company, which launched its first financial product in 2000 and has since grown to provide financial data APIs, credit decisioning tools and financial wellness solutions, partners with influential financial institutions and disruptive FinTech providers alike to give consumers a leg up in a complicated financial world. Finicity was awarded API World’s 2016 Finance API of the Year and is a 2018, 2019 HousingWire Tech100 winner. To learn more or test drive its API, visit www.finicity.com.
Andy Sheehan, President and COO at Finicity, chats with Kevin Kauffman on episode 3 of season 2 of Home Starts Here, Freddie Mac’s mortgage industry podcast. Broadcast live from the 2019 MBA Annual event in Austin, Texas, this episode focuses on loan repayment. Andy and Kevin discuss how Freddie Mac’s Loan Product Advisor® asset and income modeler (AIM) facilitates this critical repayment and best practices for automating borrower capacity. Listen to the full episode here.