Ellie Mae Completes Acquisition of Velocify
October 3, 2017
Ellie Mae has announced that it has completed its acquisition of sales acceleration platform Velocify. The acquisition brings together leading mortgage technologies to accelerate the vision of offering a fully digital mortgage. Nick Hedges, former President and CEO of Velocify, will assume the role of Senior Vice President at Ellie Mae.
Going forward, Ellie Mae will integrate Velocify’s lead management, engagement and distribution capabilities with Ellie Mae’s Encompass CRM’s unique approach to automated one-to-one personalized marketing and the Encompass Consumer Connect digital consumer experience. The robust solution will meet the needs of today’s lenders by delivering a complete digital lead capture and conversion solution for creating interest, turning that interest into an application and then funding that loan quickly and at a low cost. Many of Ellie Mae’s Encompass customers use the Velocify solution today.
“Ellie Mae’s North Star is to automate everything automatable for the residential mortgage industry, and we believe that a true digital mortgage must encompass the entire loan lifecycle, from targeted marketing automation to lead generation to application to automated investor delivery. The acquisition of Velocify accelerates our delivery of a true digital mortgage solution for the industry,” said Jonathan Corr, President and Chief Executive Officer of Ellie Mae. “In the coming months, we will integrate Velocify’s lead management, engagement and distribution capabilities with our own CRM and Consumer Connect solutions to help lenders turn consumer interest into applications through a personalized, high-tech and human-touch experience.”
Hedges said, “Velocify and Ellie Mae are longtime partners in the mortgage space thanks to our integration with their Encompass solution. We’re both fueled by the mission to simplify and speed up the mortgage process to help lenders originate more loans, lower costs and reduce time to close. Velocify has built the leading software solution for consumer sales engagement during the early stages of the sales process and with this acquisition, we will extend that capability throughout the consumer buying cycle.”
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