Finastra has partnered with Monotto,
a premier tech start-up, to launch two new solutions that are built on the
company’s FusionFabric.cloud open development platform.
The solutions, Allied Bill Payment and RoboSave, which is Monotto’s automated savings tool, were both built-in collaborations with banks and credit unions to go live and include a real-time bill payment application from Allied Payment Network, in use at Certified Federal Credit Union.
According to the company, Allied Bill Payment is designed to help financial
institutions retain and grow their customer base, whereas RoboSave uses artificial
intelligence to calculate how much a consumer needs in their safety net by analyzing
how they spend their money.
“Consumers today have so much choice in financial providers,
which is driving financial institutions to find new ways to engage their
clients and remain relevant,” said Ralph Marcuccilli, founder and chief executive
officer at Allied Payment Network. “Allied Bill Payment puts the financial
institution right at the center of a consumer’s finances, allowing them to
receive, store and pay their bills all in one place.”
technology solutions provider Mace Innovations announced
its suite of automation tools are now available through Ellie Mae’s Encompass digital platform.
integration permits Encompass lenders to
streamline data between critical systems, which the company hopes will help
users save money and time.
“Technology plays a major role in
today’s lending environment, and the more lenders can do to refocus critical
man hours away from tedious task and onto more impactful, high-level
assignments, the more efficient their operations will be, which ultimately
drives down costs and increases profitability,” said Chris Mace, Mace
Innovations’ founder and CEO. “Given Ellie Mae’s position in the market
and how well our company goals align, we are especially delighted to partner
with them to connect our suite of automation tools with the Encompass Digital
Lending Platform and we look forward to a long and mutually beneficial
Resources announced it has partnered with Finicity to provide its business partners and their
borrowers with a faster and more secure way to verify assets and income while
Through Finicity’s verification platform, the company says borrower assets can be confirmed within minutes, therefore reducing the mortgage origination time by more than a week while eliminating the hassle of manual processes.
“We’re thrilled to partner with providers that simplify and accelerate the loan process for our business partners and the mortgage applicant,” said Bill Packer, AFR’s executive vice president and COO. “Finicity is at the forefront of the industry and its technology plays an important part in turning a time-intensive process into a simple, customer-friendly and therefore more satisfying experience for borrowers and their loan officers.”