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Banks Know the Right Mortgage Technology Is Critical to Their Businesses, That’s Why They’re Choosing OpenClose

Banks Know the Right Mortgage Technology Is Critical to Their Businesses, That’s Why They’re Choosing OpenClose

In a transitioning and ultra-competitive market, it’s more crucial than ever that banks get the right tech in place now

When it comes to mortgage lending, banks understand that technology plays a crucial role in their ability to close more loans and keep their borrowers happy. With so many options available to prospective borrowers these days, it’s no longer a given that people will choose to take out a mortgage at their local bank’s branch.

Standing out among the rest with exceptional offerings through premier, efficient and cost-reducing mortgage technology has become critical to your mortgage business.

That’s why more and more banks are turning to OpenClose for cutting-edge mortgage technology solutions that streamline operations for the optimal borrower experience. We hear from many of our bank customers that OpenClose’s tech stack gives them the ability to remain competitive not only in growing markets, but more importantly, today, in tight markets. Here are the top five reasons why more and more banks are choosing to work with a true mortgage technology partner rather than stay with their historic technology vendor:

#1 Increased efficiencies

Consumers have little patience for cumbersome systems that can drag out the lending process. Our bank customers recognize this, and that’s why they seek out our solutions that keep things running as smoothly as possible. Communication between lender and borrower are key during the mortgage process, and OpenClose embraces that fact with best-in-class technology that ensures that borrowers are fully informed and up-to-speed while their loan file is active.

#2 Easy implementation

At OpenClose, we understand that adopting a new technology can be trying for banks when they’re still trying to keep up with the day-to-day. Many feel that the devil they know is better than the devil they don’t…no matter how many problems they have with their current solution. That’s why our dedicated team of mortgage lending experts ensure that implementation is seamless from end to end, so our costumers never experience anything other than a streamlined transaction. We begin our relationship with a thorough implementation strategy that will allow a bank’s team to become subject matter experts in industry-leading timeframes. It’s just one of the reasons why OpenClose had the highest lender loyalty score in a recent, independent study.

#3 The ability to scale with Growth-Friendly Pricing™

Our bank customers appreciate the fact that OpenClose is here to help them scale when the market moves unpredictably. Our pricing model gives banks the ability to grow, both their number of customers and the number of loans flowing through the system when times are rolling. Then, if the next month sees volume slip, we enable customers to flex below their newly established minimums to revert back to their contracted minimums, if need be.

#4 Configurable solutions to your bank’s specific problems

At OpenClose, we recognize that no two banks are the same, and that’s why we’re committed to configuring our technology to address the specific needs and challenges facing our bank customers. Every business has its own stumbling blocks and suffers its own pain points, and our team of talented specialists work with our bank customers to find ways to ease their burdens using smart technology.

#5 An omnichannel solution

OpenClose provides our bank customers with a single platform for Web, POS, PPE, LOS, imaging, OCR and BI – a feature not commonly found with other mortgage technology providers. Using our system, banks can automate their workflow entirely in one, omnichannel solution, moving a loan through to close quickly and efficiently so no time is lost.