Deal enables Capital One customers to more securely share their data with popular third-party apps and services

SALT LAKE CITY, Utah – August 8, 2018 – Capital One Financial Corporation (NYSE: COF) and Finicity, a leading provider of real-time financial data aggregation and insights, have signed a data sharing agreement that enhances access and security through Capital One’s Customer Transactions application programming interface (API). As a result, Capital One customers can more securely share financial data with the third-party apps and services that Finicity supports in a way that is safe, secure and within the customer’s control.

“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. This starts with superior data access, quality and intelligence,” said Finicity CEO Steve Smith. “Capital One has proven to be 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.”

Establishing a formalized API integration with the bank allows the broader FinTech and financial services community to more securely automate needed financial account data while delivering a variety of apps and services for financial management. The result is significant time savings, added stability and greater accuracy. Capital One customers will also have increased control over how and when their data is used.  This secure access to data provides the ability to have an on-demand and accurate view of their finances.

“Technology is enabling us to bring waves of new financial tools into the marketplace,” said Becky Heironimus, Managing Vice President of Enterprise Digital Products and Data Connections at Capital One. “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. Our agreement with Finicity helps our mutual customers take full advantage of their platform. Through the API, our mutual customers can securely connect with thousands of leading fintech applications and enable access to accurate account information that gives them control and transparency over how and when they choose to share their Capital One financial data.”

The API used in this direct-access relationship leverages Open Authorization (oAuth) technology to eliminate the need for the user to share their banking credentials with third-party apps. Instead, it is replaced with secure, tokenized access providing direct authorization through Capital One.

Finicity has established relationships with a wide variety of service and application providers that allow individuals and organizations to manage financial processes and payment initiation. This includes providing data aggregation for several of the most popular PFM (personal financial management) tools available on the market today, generating Finicity verification reports for many of the largest lenders and supporting ACH verification for innovative payment providers, among other services. Once the API-based method of data sharing is in place – customer migrations are expected to start in Q1 of 2019 – Capital One customers can directly and securely connect with financial tools and services that use the Finicity financial data API.

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About Finicity:

Finicity enables a financial data-sharing ecosystem that is secure, inclusive and innovative. Through its real-time financial data aggregation and insights platform, Finicity provides solutions for financial management, payments and credit decisioning, while also leading the development and promotion of industry standards. The company has developed more than 16,000 bank integrations, with the vast majority through connections that provide access to formatted bank data, improving information access and accuracy. Finicity was awarded API World’s 2016 Finance API of the Year and is a 2018 HousingWire Tech100 winner. To learn more or test drive its API, visit www.finicity.com.

About Capital One:

Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had $248.2 billion in deposits and $364.0 billion in total assets as of June 30, 2018. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has branches located primarily in New York, Louisiana, Texas, Maryland, Virginia, New Jersey and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol “COF” and is included in the S&P 100 index.

Capital One launched its Customer Transactions API in 2017, providing its customers with the ability to more safely and securely share their transaction data with participating third-party organizations that they trust. As of August 2018, Capital One has executed contracts for its Customer Transactions API with Finicity, Abacus, Clarity Money, eMoney Advisors, Expensify, Intuit, and Xero.

Visit the Capital One newsroom for more Capital One news.

Finicity’s Verification of Assets solution is integrated into SimpleNexus’ Enterprise Digital Mortgage Platform and mobile app

SALT LAKE CITY, Utah – July 18, 2018 – Finicity, a leading provider of real-time financial data aggregation and insights, announced today it is working with SimpleNexus to automate borrower asset verification for lenders using the SimpleNexus Enterprise Digital Mortgage Platform. The agreement will make the process of applying for a mortgage more efficient and improve the mobile loan origination experience for SimpleNexus’ customers.

Finicity’s suite of credit decisioning solutions, including Verification of Assets (VoA), gives lenders access to the data insights they need to digitize their loan process, free up resources, reduce fraud and improve accuracy. Automating VoA reduces friction with borrowers and can reduce the verification process from days to minutes.

“As the leading financial data aggregator in the credit decisioning industry, we are always looking for ways to bring valuable insights to lenders and provide faster, simpler and more modern lending experiences to consumers,” said Steve Smith, Finicity CEO. “We’re excited to work with SimpleNexus to continue to drive innovation in the digital lending space.”

SimpleNexus provides a private-label digital mortgage platform and mobile app that connects mortgage lenders with borrowers and real estate agents, allowing all parties to easily exchange data and documents through the lifecycle of a mortgage loan. Through its smartphone app, loan officers are able to instantly view new loan applications, pull and view credit reports, run live-pricing scenarios, see real-time CRM feeds and send pre-approval letters.

“Finicity’s focus on digitizing the lending process and reducing user friction aligns perfectly with our mobile-first mindset,” said Matt Hansen, SimpleNexus CEO. “This integration agreement will create more efficiencies throughout the entire loan lifecycle for mortgage lenders, borrowers and real estate agents.”

Finicity and SimpleNexus are both part of the Silicon Slopes business community of Utah, coined in the vein of Silicon Valley due to the large number of tech startups and high level of innovation taking place in the region. Furthermore, this partnership has already seen success with Synergy One Lending.

“We’re thrilled to now have access to automated VoA reports for our borrowers,” said Torrey Larsen, Synergy One CEO. “This automated process will simplify the experience for our loan originators and borrowers while reducing time to close. Improvements to the digital mortgage process, like Finicity and SimpleNexus’ integration, are crucial to our pursuit of excellence in the client experience.”

Finicity is also an authorized, integrated provider of asset verification reports within Fannie Mae’s Desktop Underwriter® (DU®). This gives lenders a validated asset report through Fannie Mae’s Day 1 Certainty™ initiative. Finicity is also part of the Single Source Validation (SSV) pilot, meaning Fannie Mae will utilize transaction data from Finicity reports to validate assets, income and employment. A broader rollout of SSV is planned later this year and will build on Fannie Mae’s Day 1 Certainty initiative.

To stay up to date on all Finicity company and product announcements, visit the website at Finicity.com.

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About Finicity:

Finicity enables a financial data-sharing ecosystem that is secure, inclusive and innovative. Through its real-time financial data aggregation and insights platform, Finicity provides solutions for financial management, payments and credit decisioning in mortgage lending, while also leading the development and promotion of industry standards. The company has developed more than 16,000 bank integrations, with the vast majority through connections that provide access to formatted bank data, improving information access and accuracy. Finicity was awarded API World’s 2016 Finance API of the Year and is a 2018 HousingWire Tech100 winner.

About SimpleNexus:

SimpleNexus, LLC is a digital mortgage solution provider, enabling lenders to originate and process loans from anywhere. The platform connects loan officers to their borrowers and realtors to easily communicate and exchange data in a single location throughout the entire loan life cycle. Loan officers can manage their loan pipeline, order credit, run pricing and send pre-approvals — all on the go. The app can easily be shared with borrowers and realtors, giving them the modern mortgage tools they want and need. Using state-of-the-art mobile technology, SimpleNexus is dedicated to providing its wide array of services to mortgage corporations and branches, as well as individual loan officers. Today, SimpleNexus serves more than 180 enterprise mortgage companies and more than 17,000 loan officers nationwide. To learn more, visit simplenexus.com.

Finicity’s asset verification solution to be integrated into Lender Price’s digital pricing platform

SALT LAKE CITY, Utah – July 12, 2018 Finicity, a provider of real-time financial data aggregation and insights, announced today it has signed on to work with Cre8tech Labs, Inc., a provider of innovative technology products for the financial services industry, to streamline and speed up the verification process in mortgage lending. The initial focus is on the integration of Finicity’s Verification of Assets (VoA) solution into Cre8tech’s Lender Price Digital Lending™ platform to further digitize the mortgage experience for lenders and borrowers.

Finicity’s credit decisioning solutions allow lenders to free up resources, improve accuracy and reduce fraud, all while giving borrowers a paper-free, hassle-free experience that utilizes transaction data direct from financial institutions. Lender Price provides a digital application for the loan officer and borrower to collaborate to apply for a mortgage that is fully integrated with the Lender Price pricing and eligibility engine.

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

“At Lender Price, we highly value speed and accuracy within the mortgage lending process, which directly correlates with Finicity’s mission,” said Lender Price president, Dawar Alimi. “Together, we’re equipping lenders with the innovative tools they need to streamline mortgage originations.”

The partnership has already seen success with a variety of customers, including Mountain West Financial, Inc.

“We’re excited to provide our borrowers with the exceptional customer experience of automated VoA reports,” said Cindy Douglas, Mountain West Financial implementation and onboarding specialist. “It makes our loan officers more efficient, providing them asset data faster and helping reduce the time to close. Improvements to our digital mortgage process are crucial to making homeownership a reality for our communities.”

Finicity is an authorized, integrated provider of asset verification reports within Fannie Mae’s Desktop Underwriter® (DU®). This gives lenders a validated asset report through Fannie Mae’s Day 1 CertaintyTM initiative. Finicity is also part of the Single Source Validation (SSV) pilot, meaning Fannie Mae will utilize transaction data from Finicity reports to validate assets, income and employment. A broader rollout of SSV is planned later this year and will build on Fannie Mae’s Day 1 Certainty initiative.

To stay up to date on all Finicity company and product announcements, visit the website at www.finicity.com.

 

About Finicity:

Finicity enables a financial data-sharing ecosystem that is secure, inclusive and innovative. Through its real-time financial data aggregation and insights platform, Finicity provides solutions for financial management, payments and credit decisioning in mortgage lending, while also leading the development and promotion of industry standards. The company has developed more than 16,000 bank integrations, with the vast majority through connections that provide access to formatted bank data, improving information access and accuracy. Finicity was awarded API World’s 2016 Finance API of the Year and is a 2018 HousingWire Tech100 winner.

 

About Cre8tech Labs Inc DBA Lender Price:

Cre8tech Labs, Inc. was founded by Dawar Alimi, Ly Kou Nhiayi, and Ly Kao Nhiayi to create simple, open, flexible technology to enable our partners to grow. For more information, please visit LenderPrice’s website.

 

Mortgage Cadence to integrate Finicity’s asset verification solution with its loan origination software platform

DENVER and SALT LAKE CITY; May 31, 2018 Mortgage Cadence, an Accenture (ACN) company, has signed an agreement to integrate Finicity’s Verification of Assets solution with its loan origination platforms, enabling clients to streamline and accelerate the loan process by generating a verification report with a single click, shaving up to six days off the traditional closing timeline.

The integration of the Finicity solution with Mortgage Cadence’s loan origination software platform is designed to further streamline and enhance the borrower experience. Borrowers consent to the use of their financial account data through a short online process, which then rapidly generates a verification report.

“Our goal as a financial data aggregator is to find best-in-class partners who are also committed to data access, quality and insights, and ultimately a better experience for borrowers,” said Steve Smith, Finicity CEO. “We’re excited to work with Mortgage Cadence to accelerate and improve the digital loan process.”

A leading provider of real-time financial data aggregation and insights, Finicity offers solutions that help lenders digitize and modernize the lending process, reducing friction for borrowers while providing better, cleaner data that reduces verification time to minutes instead of days. Upon consumer-permissioned account identification, reports can be generated in as little as 30 seconds.

“Our agreement with Finicity simplifies yet another important step in the mortgage process for both borrowers and lenders, getting everyone involved in the transaction to the closing table more quickly and with fewer steps,” said Brian Benson, executive manager of Services Center at Mortgage Cadence.

Finicity is an authorized, integrated provider of asset verification reports within Fannie Mae’s Desktop Underwriter®, giving lenders a validated asset report through Fannie Mae’s Day 1 Certainty™ initiative. Because Finicity is also part of Fannie Mae’s single source validation (SSV) pilot, Fannie Mae can use transaction data from Finicity reports to validate assets, income and employment. A broader rollout of SSV is planned later this year and will build on Fannie Mae’s Day 1 Certainty initiative. Finicity is also an authorized Freddie Mac asset validation report provider, and the two organizations are working together on new methods to validate income from payroll deposit data from bank statements.

About Mortgage Cadence:

Since 1999, Mortgage Cadence, champions of the lending process, have been providing the best people, process and technology for enterprise and mid-market lenders who desire to deliver an exceptional borrower experience. From point-of-sale through post-closing, Mortgage Cadence offers reliable software and dedicated people, supporting lenders every step of the way. For more information about Mortgage Cadence’s products and services, visit www.mortgagecadence.com.

About Finicity:

Finicity enables a financial data-sharing ecosystem that is secure, inclusive and innovative. Through its real-time financial data aggregation and insights platform, Finicity provides solutions for financial management, payments and credit decisioning, while also leading the development and promotion of industry standards. The company has developed more than 16,000 bank integrations, with the vast majority through connections that provide access to formatted bank data, improving information access and accuracy. Finicity was awarded API World’s 2016 Finance API of the Year and is a 2018 HousingWire Tech100 winner. To stay up to date on all Finicity company and product announcements, visit the website at www.finicity.com.

Integration between leading mortgage technology providers will help lenders eliminate lengthy, frustrating paper chase to verify borrowers’ assets

SALT LAKE CITY, Utah – May 30, 2018 – Finicity, a leading provider of real-time financial data aggregation and insights, announced it has signed an integration agreement with Blue Sage Solutions, an innovative, cloud-based digital mortgage lending platform. Under terms of the agreement, Blue Sage will integrate Finicity’s Verification of Assets (VoA) solution into its multi-channel digital lending platform to accelerate the credit decisioning process for mortgage lenders.

Finicity’s credit decisioning solutions allow lenders to free up resources, improve accuracy and reduce mortgage fraud, all while giving borrowers a paperless and hassle-free experience. By partnering, Blue Sage and Finicity can provide mortgage lenders with validated insights of a borrower’s assets in seconds.

“Our goal is to find top-notch partners who are also committed to creating a frictionless experience for lenders and borrowers through a digitized process,” said Steve Smith, Finicity CEO. “We’re excited to work with Blue Sage to accelerate the process of verifying a borrower’s assets, which has traditionally been a painful paper chase that takes several days or longer.”

Blue Sage’s digital lending platform allows mortgage lenders and borrowers to collaborate together in real-time to communicate, exchange required information and track progress. Since Blue Sage operates as a cloud-based platform, both parties can access VoA reports at virtually any time during the process.

“We look forward to working with Finicity as an asset verification provider,” said Joe Langner, CEO of Blue Sage. “The company’s credit solutions align well with our mission to empower mortgage lenders with best-in-class, consumer-centric tools to achieve an excellent origination performance—every time.”

Finicity is an authorized, integrated provider of asset verification reports within Fannie Mae Desktop Underwriter® (DU®). This gives lenders a certified asset report through Fannie Mae’s Day 1 Certainty™ initiative. Finicity is also part of the Single Source Validation (SSV) pilot, meaning Fannie Mae will utilize transaction data from Finicity reports to validate assets, income and employment. A broader rollout of SSV is planned later this year and will build on Fannie Mae’s Day 1 Certainty initiative.

Finicity is also an authorized Freddie Mac asset validation report provider, and Freddie Mac and Finicity are working together on new methods to validate income from payroll deposit data from bank statements.

To stay up to date on all Finicity company and product announcements, visit www.finicity.com. For more information about Blue Sage’s products and services, visit www.bluesageusa.com.

 

About Finicity:

Finicity enables a financial data-sharing ecosystem that is secure, inclusive and innovative. Through its real-time financial data aggregation and insights platform, Finicity provides solutions for financial management, payments and credit decisioning in mortgage lending, while also leading the development and promotion of industry standards. The company has developed more than 16,000 bank integrations, with the vast majority through connections that provide access to formatted bank data, improving information access and accuracy. Finicity was awarded API World’s 2016 Finance API of the Year and is a 2018 HousingWire Tech100 winner. To stay up to date on all Finicity company and product announcements, visit www.finicity.com.

 

About Blue Sage:

Blue Sage is an innovative, cloud-based digital lending platform for retail, wholesale and correspondent lenders that provides a superior lending experience for every borrower. The company’s technology is 100% browser-based and provides end-to-end functionality for the entire lending and fulfillment process, regardless of channel. All Blue Sage solutions include mobile applications and are delivered through a secure, fully managed cloud service. The company’s technology was developed over the past four years by the founders of Palisades Technology Partners, developers of Impact, the first end-to-end web-based loan platform which was used by five of the 10 largest U.S. originators. Blue Sage Solutions is headquartered in Englewood Cliffs, New Jersey. For more information about Blue Sage’s products and services, visit www.bluesageusa.com.

As a Sovrin Steward, Finicity will promote the adoption of self-sovereign identity technology

SALT LAKE CITY — April 11, 2018 — Finicity, a leading financial data aggregator, has today been announced as a founding Steward with the Sovrin Foundation, a private-sector, international non-profit whose mission is to promote self-sovereign identity online. Stewards are tasked with the operation and maintenance of the foundation’s decentralized digital identity platform.

As a Steward, Finicity will actively contribute intellectual and infrastructure resources to the Sovrin Network, while working with other Sovrin Stewards to accelerate the mission of the organization by promoting the adoption of self-sovereign identity (SSI) technologies. At its core, this network uses a purpose-built distributed ledger — commonly referred to as a blockchain — to enable the secure exchange of cryptographically signed credentials possessed by individuals, organizations and connected devices, thereby providing the internet with the true identity layer long absent in its original architecture.

“There has been no digital equivalent of a passport, driver’s license, birth certificate or other identity document that the owner exclusively possesses and uses to verify their rights and privileges in the online world,” said Nick Thomas, president and co-founder of Finicity. “Instead, we have dozens of user names and passwords across a multitude of vulnerable databases. Supporting Sovrin’s efforts to solve this, and other identity issues, will bring about a tectonic shift in our digital lives as consumers are put back in control of their identities and data.”

Finicity is one of more than 25 Stewards — organizations spanning the globe and representing a diverse cross-section of industries — charged with ensuring that the network is available, public, secure and independent of outside control.

“As a leading consumer-permissioned financial services data platform, Finicity brings a unique perspective and exciting new use case to the Sovrin Network, since identity and data protection are at the core of their business,” said Dr. Phillip Windley, chairman of the Sovrin Foundation. “Our organizations share a common goal of empowering and protecting consumers through decentralized identity and data management and more trusting interactions.”

Sovrin Stewards are governed by the Sovrin Foundation’s constitutional Trust Framework, within which the ‘diffused trust model’ seeks to prevent undue influence over the network from any single source. Other Sovrin Stewards include IBM, Deutsche Telekom, Brigham Young University and the law firms of BakerHostetler and Perkins Coie.

“We are committed to helping individuals and organizations maintain true control of their data, while empowering them to readily use it to their benefit across a variety of applications and services,” said Steve Smith, CEO and co-founder of Finicity. “But control of data starts with control of identity. We are excited to be working within the Sovrin ecosystem and its wide ranging group of Stewards that share such a powerful vision of giving control back to the individual.”

To learn more about Finicity, visit www.finicity.com. To learn more about the Sovrin Foundation, visit sovrin.org.

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About Finicity:

Finicity enables a financial data-sharing ecosystem that is secure, inclusive and innovative. Through its real-time financial data aggregation and insights platform, Finicity provides solutions for financial management, payments and credit decisioning. It is also leading the development and promotion of industry standards. The company has developed more than 16,000 bank integrations, with the vast majority through connections that provide access to formatted bank data, improving information access and accuracy. Finicity is the winner of API World’s 2016 Finance API of the Year.

About the Sovrin Foundation:

The international, non-profit Sovrin Foundation is governed by a constitutional Trust Framework that ensures its independence from government or industry influence and codifies its dedication to providing self-sovereign digital identity for all. The Sovrin network is operated by independent stewards and uses the power of a hybrid distributed ledger as a fast, private and secure framework for providing every person, organization, and connected device a permanent identity with which to transact online and operate securely in everyday life. Learn more about the Trust Framework underlying the Sovrin network here.

Finicity’s asset verification solution to be integrated into BeSmartee’s digital lending platform

SALT LAKE CITY, Utah – March 27, 2018 – Finicity, a leading provider of real-time financial data aggregation and insights, announced today an integration agreement with BeSmartee, a digital mortgage marketplace provider, to further streamline and accelerate the digital loan origination process for lenders and borrowers. The agreement will integrate Finicity’s Verification of Assets (VoA) solution into BeSmartee’s next generation point-of-sale platform for mortgage originations.

Finicity is committed to utilizing consumer-permissioned data in the credit decisioning space to increase accuracy and decisioning speed while reducing fraud. Through bank-validated data and data intelligence, Finicity provides solutions to lenders that assist them in digitizing and modernizing the lending process — reducing friction with borrowers while providing better, cleaner data that can shorten verification to minutes instead of days.

In BeSmartee’s platform, lenders can request an asset verification report with one click. Borrowers are prompted to complete a short online process to permission use of their financial account data, which is then used to generate a real-time verification report.

“Finicity is improving the lending process through superior data access, quality and insights,” said Steve Smith, Finicity CEO. “We’re proud to be working alongside BeSmartee to accelerate the digital loan process, improving efficiency for lenders and transparency for borrowers.”

BeSmartee is a complete digital origination process, which gives borrowers greater control and guidance while providing lenders with a customizable platform to improve efficiency and the overall experience.

“Integrating with Finicity is a key step in helping us continue to provide exceptional services to our clients in the form of speed, accuracy and reliability within our best-of-breed mortgage origination point of sale platform,” said Arvin Sahakian, BeSmartee co-founder. “We look forward to working with Finicity. They have great technology and, more importantly, great people behind that technology.”

Finicity is an authorized, integrated provider of asset verification reports within Fannie Mae’s Desktop Underwriter® (DU®). This gives lenders a validated asset report through Fannie Mae’s Day 1 Certainty™ initiative. Finicity is also part of the Single Source Validation (SSV) pilot, meaning Fannie Mae will utilize transaction data from Finicity reports to validate assets, income and employment. A broader rollout of SSV is planned later this year and will build on Fannie Mae’s Day 1 Certainty initiative.

Finicity is also an authorized Freddie Mac asset validation report provider, and Freddie Mac and Finicity are working together on new methods to validate income from payroll deposit data from bank statements.

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 enables a financial data-sharing ecosystem that is secure, inclusive and innovative. Through its real-time financial data aggregation and insights platform, Finicity provides solutions for financial management, payments and credit decisioning. It is also leading the development and promotion of industry standards. The company has developed more than 16,000 bank integrations, with the vast majority through connections that provide access to formatted bank data, improving information access and accuracy. Finicity is the winner of API World’s 2016 Finance API of the Year.

About BeSmartee:

BeSmartee has developed an automated mortgage origination technology the company private labels and licenses to lenders. By utilizing artificial intelligence, BeSmartee’s process enables lenders to take their borrowers from the initial contact into underwriting in 20 minutes with a complete loan application, credit report, income/asset documents, eSigned/eDelivered disclosures and paid appraisal. Founded in 2008 and headquartered in Huntington Beach, Calif., the BeSmartee team has worked on the front and back-end of mortgage originations for over a decade, applying their knowledge to develop a truly unrivaled user experience, with an array of tools and features catering to the specific needs of lenders and their customers.

Integration provides verification of assets report to speed up lending process while improving the experience for lenders and their customers

SALT LAKE CITY, Utah and PLEASANTON, California – March 19, 2018Finicity, a provider of real-time financial data aggregation and insights, and Ellie Mae® (NYSE: ELLI), the leading cloud-based platform provider for the mortgage finance industry, today announced an integration agreement to provide Finicity’s digital Verification of Assets (VoA) solution through Ellie Mae’s Encompass® digital mortgage solution.

The mortgage origination process has increased in cost over the past several years, reaching almost $8,000, according to the Mortgage Bankers Association, doubling the cost since 2009. Additionally, consumers have increasing expectations for a fast and simplified experience. To address this, Finicity is leading the delivery of digital verifications that can help speed the process up to 11 days. First to market is the Finicity VoA report, providing a streamlined digital experience that rapidly and accurately validates a borrower’s assets and will be accessed through Encompass.   

“Increased access to financial data is changing the way lenders look at underwriting and is playing a major role in moving lending to a fully digital experience,” said Steve Smith, CEO and co-founder of Finicity. “Working with a market leader like Ellie Mae to deliver on the promise of digitization is very exciting and will have significant impact on the origination process.”

Finicity is one of the largest financial data aggregators and uses consumer-permissioned financial data for its credit decisioning solutions. Through a digital verification process, lenders can shorten the time to close and reduce personnel and financial resources. Utilizing transaction data direct from financial institutions also improves accuracy and reduces fraud. Additionally, it provides borrowers a paper-free, hassle-free experience.

Ellie Mae is offering a true digital mortgage experience covering the entire loan lifecycle, so lenders can originate more loans, lower origination costs and reduce time to close. Ellie Mae’s connected community includes 230,000 users and thousands of service providers, and the Ellie Mae Network processes millions of transactions every month, touching approximately 30 percent of the residential loans originated in the United States. Finicity will leverage Partner Connect as part of the early partner program to offer income and asset verification to Ellie Mae customers.

Through the integration, lenders will be able to request an asset verification report in a single click. Once requested, a borrower will be prompted to complete a simple online process that identifies the financial information they want included and permissions the creation of the report. Lenders can review reports with bank-validated data in near real-time, shortening the verification process to minutes — instead of days.

“At Ellie Mae, our mission is to provide our lenders with innovative solutions to automate the entire loan lifecycle for a true digital mortgage,” said Parvesh Sahi, senior vice president of business development for Ellie Mae. “We will continue to embrace technology partners like Finicity to change the way lenders and consumers engage in the loan manufacturing process. We’re happy to partner with Finicity to provide solutions through our Encompass NG Lending Platform and our Encompass Connect product suite to help realize the vision of a truly digital mortgage.”

Finicity is an authorized asset report provider as part of Fannie Mae’s Day 1 CertaintyTM initiative.  Finicity is also part of the Single Source Validation (SSV) pilot, meaning Fannie Mae will utilize transaction data from Finicity reports to validate assets, income and employment. A broader rollout of SSV is planned later this year and will build on Fannie Mae’s Day 1 Certainty initiative. Finicity is also an authorized Freddie Mac asset validation report provider, and Freddie Mac and Finicity are partnering on new methods to validate income from payroll deposit data from bank statements.

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 enables a financial data-sharing ecosystem that is secure, inclusive and innovative. Through its real-time financial data aggregation and insights platform, Finicity provides solutions for financial management, payments and credit decisioning. It is also leading the development and promotion of industry standards. The company has developed more than 16,000 bank integrations, with the vast majority through connections that provide access to formatted bank data, improving information access and accuracy. Finicity is the winner of API World’s 2016 Finance API of the Year.

About Ellie Mae:

Ellie Mae (NYSE:ELLI) is the leading cloud-based platform provider for the mortgage finance industry. Ellie Mae’s technology solutions enable lenders to originate more loans, reduce origination costs, and shorten the time to close, all while ensuring the highest levels of compliance, quality and efficiency. Visit EllieMae.com or call 877.355.4362 to learn more.

Finicity’s Verification of Assets solution to be integrated into MortgageHippo’s digital lending platform

SALT LAKE CITY, Utah – March 6, 2018 – Finicity, a provider of real-time financial data aggregation and insights, announced today it is working with MortgageHippo, creators of the leading borrower-centric digital lending platform, to streamline and speed up the verification process in mortgage lending. The initial focus is on integration of Finicity’s Verification of Assets (VoA) solution into the MortgageHippo platform, further digitizing the mortgage experience for lenders and borrowers.

Finicity’s credit decisioning solutions allow lenders to free up resources, improve accuracy and reduce fraud, all while giving borrowers a paper-free, hassle-free experience that utilizes transaction data direct from financial institutions. Through the MortgageHippo platform, lenders will request an asset verification report, which will then inform the borrower to complete a simple online process to identify the financial information they want included and to permission creation of the report. Lenders can review reports with bank-validated data in near real-time, shortening the verification process to minutes instead of days.

“Consumers are looking for experiences that are simple and fast. Lenders are looking to meet these expectations while improving efficiency and profitability,” said Steve Smith, CEO and co-founder of Finicity. “We’re excited to work with MortgageHippo, another innovator that is enhancing the mortgage lending experience for borrowers and lenders with a smart, digital process.”

“Finicity has shown significant market leadership in digitizing the verification process for mortgage lending,” said Michael Salichs, president of MortgageHippo. “Having their solution integrated into our platform is a perfect fit with our vision of an omnichannel digital experience that makes the lending process easier, faster and more pleasant for everyone.”

MortgageHippo is integrated with several industry leading loan origination system (LOS) providers, further simplifying access to and management of reports.

Finicity is an authorized, integrated provider of asset verification reports within Fannie Mae’s Desktop Underwriter® (DU®). This gives lenders a validated asset report through Fannie Mae’s Day 1 CertaintyTM initiative. Finicity is also part of the Single Source Validation (SSV) pilot, meaning Fannie Mae will utilize transaction data from Finicity reports to validate assets, income and employment. A broader rollout of SSV is planned later this year and will build on Fannie Mae’s Day 1 Certainty initiative.

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 enables a financial data-sharing ecosystem that is secure, inclusive and innovative. Through its real-time financial data aggregation and insights platform, Finicity provides solutions for financial management, payments and credit decisioning. It is also leading the development and promotion of industry standards. The company has developed more than 16,000 bank integrations, with the vast majority through connections that provide access to formatted bank data, improving information access and accuracy. Finicity is the winner of API World’s 2016 Finance API of the Year.

About MortgageHippo:

MortgageHippo works with lenders to devise and implement their digital mortgage strategies using its borrower-centric digital lending platform. The MortgageHippo platform allows lenders to deliver a modern borrowing experience, improve borrower conversions, significantly reduce origination costs and integrate with other innovative technologies. MortgageHippo’s platform is fully customizable to lender preferences and configurable to lenders’ workflows and processes. For more, visit www.mortgagehippo.com.

Partnership broadens availability of digital verification for improved mortgage lending experience and profitability

SALT LAKE CITY, Utah and MILFORD, Pennsylvania – March 1, 2018 – Finicity and Advanced Data today announced a partnership that includes Finicity verification reports as part of Advanced Data’s suite of fraud prevention and enhanced verification tools for mortgage lending.

The mortgage industry is rapidly moving to a more digital experience for borrowers and lenders alike. Finicity is a leader in this transformation, starting with its digital verification of assets (VoA) report. This report can be ordered through Advanced Data and is interfaced with multiple loan origination system (LOS) providers such as Ellie Mae, Black Knight, Byte Software, Calyx Software and more, in addition to Advanced Data’s own lender-facing SaaS platform.

“In today’s digital world, borrowers and lenders have high expectations for a streamlined process that improves both the experience and the bottom line,” said Steve Smith, CEO and co-founder of Finicity. “We’re excited to align with a like-minded organization in Advanced Data to bring to market the most advanced verification solutions that will accelerate next-gen mortgage lending.”

Finicity is one of the largest financial data aggregators and uses consumer-permissioned financial data for its credit decisioning solutions. A digital verification process allows lenders to free up financial and personnel resources while improving accuracy and reducing fraud. Additionally, it provides borrowers a paper-free, hassle-free experience that utilizes transaction data direct from financial institutions.

Through Advanced Data, which has provided compliance, fraud prevention and enhanced verification services to the mortgage industry for more than a decade, lenders will be able to request an asset verification report in a single click. Once requested, a borrower will be prompted to complete a simple online process that identifies the financial information they want included and permissions the creation of the report. Lenders can review reports with bank-validated data in near real-time, shortening the verification process to minutes — instead of days.

“Providing Finicity asset verification reports to our customers reflects our reputation for delivering innovative, high-quality products to the mortgage industry,” said Allen Johnson, CEO of Advanced Data Corporation. “Finicity helps us deliver on our ongoing commitment to provide our clients with competitive advantages and great customer service.”

Advanced Data, with its tax transcript validation report, and Finicity, with its asset verification report, are authorized, integrated report providers within Fannie Mae’s Desktop Underwriter® (DU®). This gives lenders validated reports through Fannie Mae’s Day 1 Certainty™ initiative.

Finicity is also part of the Single Source Validation (SSV) pilot, meaning Fannie Mae will utilize transaction data from Finicity reports to validate assets, income and employment. A broader rollout of SSV is planned later this year and will build on Fannie Mae’s Day 1 Certainty initiative.

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 enables a financial data-sharing ecosystem that is secure, inclusive and innovative. Through its real-time financial data aggregation and insights platform, Finicity provides solutions for financial management, payments and credit decisioning. It is also leading the development and promotion of industry standards. The company has developed more than 16,000 bank integrations, with the vast majority through connections that provide access to formatted bank data, improving information access and accuracy. Finicity is the winner of API World’s 2016 Finance API of the Year.

About Advanced Data:
Advanced Data is recognized as the standard for enterprise-wide mortgage data integrity, specializing in fraud prevention and enhanced verifications. Its proprietary technology is integrated with loan origination systems, and the firm offers a SaaS platform for clients that prefer a custom solution. Its services include eTax Verification Form 4506-Ts, proprietary eVoE™ technology, streamlined verifications and reverifications of employment, fraud reports, social security number verifications, AVM plus property inspection, and flood zone determinations. Advanced Data’s proprietary Fraud Report identifies each loan’s fraud risk before and after funding. The firm prides itself on delivering superb customer service, hiring experienced employees, and developing customized, sophisticated technology. It’s one of the only firms in its sector to employ an in-house development group, which ensures its technology provides a competitive advantage to clients and can be customized to their needs. Advanced Data was named to Housing Wire’s prestigious 2017 Tech 100. For more information, visit advanceddata.com.