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Chicago-based Guaranteed Rate, a financial technology-based mortgage lender, announced Tuesday that it is investing in developing additional “end-to-end digital” financial products beyond mortgages.
The company has rolled out digital home-equity lines of credit (HELOCs) in 41 states and Washington, D.C., and is piloting personal loans in Illinois with the intent to roll out that product nationwide.
"Guaranteed Rate is committed to becoming the nation's No. 1 Fintech," Guaranteed Rate President and CEO Victor Ciardelli said. "Our company has long been the digital leader in mortgages, and we are perfectly positioned to use our incredible technology platform to offer awesome new end-to-end digital solutions that will make our customers' lives easier and better."
The new Fintech solutions will be designed for rapid scaling nationwide and feature customer experiences that emphasize speed, flexibility, and convenience, the company said. Alongside its digital mortgage customer experience, the new digital products will enable Guaranteed Rate to develop broader, deeper, longer-lasting, and higher value relationships with its customers, the company said.
To help drive these initiatives, Guaranteed Rate said it has added three Fintech executives to its leadership team. Raman Muralidharan will serve as president of New Financial Products, reporting to Ciardelli. Reporting to Muralidharan are Anand Cavale, executive vice president and head of Unsecured Lending Products; and Arun Tripathi, executive vice president and head of New Secured Lending Products.
Before joining Guaranteed Rate, Muralidharan was EVP of Lending at HSBC, USA, where he led the digitization and growth of the mortgage business and helped launch digital-first personal loan and credit card products. At Guaranteed Rate, he will direct the company's overall expansion into new financial products.
"Guaranteed Rate has a tremendous opportunity to grow by offering additional products and services that meet our customers' needs," Muralidharan said. "Our goal is to produce game-changing Fintech solutions that provide unparalleled speed, ease and convenience for our customers."
Cavale has previously held global leadership positions at Citi as managing director, consumer banking, and later as the head of consumer lending at SoFi. In his new role, he is responsible for building new businesses that facilitate consumer borrowing and spending.
Tripathi most recently served as the head of mortgage products, pricing and capital markets at HSBC, before coming to Guaranteed Rate. Earlier, he worked at Bank of America and USAA in various leadership roles. In his new role, he is responsible for launching and growing new lines of business focused on offering new secured lending products to customers and prospects.
Headquartered in Chicago, the Guaranteed Rate Cos. have more than 10,000 employees in over 850 branches across the U.S., serving all 50 states and Washington, D.C.