Mortgagebot has announced the introduction of a new consumer lending module to PowerSite, its integrated point-of-sale solution (IPOS). The module enables financial institutions to apply the flexibility, efficiency and innovation of advanced online technology to their entire lending business—to both mortgage loans and now consumer loans. Mortgagebot adds consumer loan origination in a frictionless, easy-to-use platform for end users. Lenders who have deployed the product are already reaping benefits—operational efficiency, automated compliance, and affordable scalability—in their consumer lending operations.
“All the experiences and best practices that Mortgagebot amassed in the last twelve years are now available to lenders in their consumer lending space,” said Matt Cotter, senior vice president of sales and marketing for Mortgagebot. “Now, another superior advantage of PowerSite is its seamless integration and comprehensive management of mortgage and consumer loans, one that maximizes efficiency and ease-of-use for end users across the board. Our parent company, D+H, also furthers its mission as the leading provider of technology and managed services to the North American financial services industry—including lending institutions of all asset sizes.”
Mortgagebot designed the new module in response to market demand and feedback from clients who were already using PowerSite to optimize and support their mortgage operations. These clients desired an innovative, convenient solution to handle the consumer lending side of their businesses. Since the launch, five clients from a focused group have integrated the new functionality and boosted the quality of their lending operations.
“Our credit union has already had great success with Mortgagebot’s online application system [for mortgages],” said Christopher Ercole, senior vice president and chief lending officer at National Institutes of Health Federal Credit Union. “We view consumer lending as an integral part of our business model and are looking to the new module to grow our consumer lending business.”