Mortgage lenders spend significant resources attracting borrowers, but many applications never make it to the closing table. Finastra is betting that better visibility into where borrowers drop out of the process can help lenders improve pull-through rates and fund more loans.
The company announced the launch of Data Insights 2.0, a new analytics platform available for its Originate Mortgagebot digital mortgage solution. The tool is designed to help banks and credit unions identify friction points in the mortgage application process, benchmark their performance against peers, and make operational changes aimed at improving conversion rates.
The release comes at a time when lenders remain under pressure to maximize efficiency and profitability in a mortgage market defined by affordability challenges, elevated rates, and intense competition for borrowers. For many lenders, improving conversion rates may be more cost-effective than spending additional dollars on lead generation.
According to Finastra, Data Insights 2.0 provides a detailed view of how borrowers move through the application process and where they abandon applications. The platform is designed to replace fragmented reporting with actionable data that lenders can use to identify performance gaps and address operational bottlenecks.
The solution includes peer and industry benchmarking based on anonymized data from more than 1,000 mortgage originators. Lenders can compare their performance against industry standards, drill down into specific metrics, and export data for further analysis.
"We knew we were losing applicants at specific points in our process, but we couldn't figure out why," said Brenda Stoerkel, vice president and mortgage production manager at United Bank. "Data Insights showed us exactly where the process was breaking down. By fixing our mobile experience and adjusting our communication timing, we saw our completion rates improve. Having the right information to make better decisions makes both our operations and our borrower experience stronger."
Among the platform's capabilities are real-time tracking of application exit points, conversion analysis, borrower demographic and credit score insights, channel performance metrics, submission timing analysis, and geographic heat maps showing application activity.
The system also provides visibility into loan-to-value ratios and point-of-sale underwriting data, allowing lenders to better understand the characteristics of borrowers moving through their pipelines.
"Lenders have access to a considerable amount of data, but they need real insights to help them optimize their business," said Rick Foresta, chief product officer for lending at Finastra. "We built Data Insights 2.0 to cut through the noise. It tells you what's actually happening in your mortgage pipeline and what you should do about it to make it easier for people to buy homes."
What It Means
For mortgage executives, branch managers, and loan originators, the announcement reflects a growing industry focus on conversion optimization rather than simply generating additional leads.
Many lenders already track application volume and funded-loan metrics, but identifying exactly where borrowers encounter friction can be more difficult. Common obstacles can include lengthy application forms, poor mobile experiences, slow follow-up times, document collection challenges, and inconsistent borrower communication.
By identifying where fallout occurs, lenders may be able to improve pull-through rates without increasing marketing spend. Even modest gains in application completion and loan conversion can translate into meaningful increases in funded volume, particularly in a market where borrower acquisition costs remain elevated.
The launch also underscores the industry's broader push toward data-driven mortgage operations. As lenders seek to lower costs per loan and improve borrower experiences, analytics platforms are increasingly being used to uncover inefficiencies that may otherwise go unnoticed.
