Connection of OpenClose’s LenderAssist™ LOS and ABT’s MortgageExchange® platform opens doors to more financial institutions
WEST PALM BEACH, Fla.—July 31, 2020—OpenClose®, the industry-leading mortgage fintech provider and omni-channel loan origination system (LOS), announced that it integrated with Access Business Technologies’ (ABT) MortgageExchange interface solution, a secure cloud-based environment that enables multiple platforms and applications to share data between disparate systems. Now, OpenClose and ABT are able to conduct business with more lending entities.
ABT’s MortgageExchange extracts mortgage loan data fields and properly places all information into the connecting fields within other applications (using respective APIs when available). Each integration is customized between OpenClose and ABT to model the customer’s business workflow, which eliminates data input redundancy, prevents errors, and saves time.
“Teaming with ABT allows our mutual customers to instantly access and share accurate data with different software systems both inside and outside of the mortgage industry,” says Vince Furey, CRO at OpenClose. “ABT’s MortgageExchange enables two-way data flow where relevant information is passed from our LenderAssist LOS to the target platform and from the target platform back to the LOS. This ability provides time savings and increased accuracy by populating client information directly from a system of record. This new integration further supports the fact that OpenClose is the best way to lend from open to close.”
Organizations leveraging ABT’s MortgageExchange solution do not require additional servers, software, coding, or maintenance. ABT builds fully functional interfaces using custom-configurations that follow the clients’ business processes. Engagements for MortgageExchange are completed, tested, and in production within 90 days. OpenClose’s RESTful API Suite enabled ABT to efficiently connect to its LenderAssist™ LOS and facilitate the secure transfer of data between advanced workflows that lenders leverage daily. As a result, it is simple for customers using ABT’s MortgageExchange to connect to the OpenClose LOS and virtually any other software platform using contemporary APIs.
“Partnering with OpenClose unlocks a lot of doors for lending entities that use the MortgageExchange interface,” said Justin Kirsch CEO. “At ABT, everything we design and build lives in the cloud and our teams manage all maintenance and upkeep, freeing lenders from concern or worry about any added cost and time required to maintain applications and the connecting interfaces. We firmly believe that time is money, and our clients invest the time saved building a more profitable operation.”
Lenders using the OpenClose and ABT integration receive a report from MortgageExchange that provides full transparency showing what transpired with the data, identifying any issues with the loan data before it is sent to the target software platform, ensuring data accuracy.
Founded in 1999 and headquartered in West Palm Beach, Florida, OpenClose® is a leading enterprise-class, multi-channel loan origination system (LOS), POS digital mortgage and Fintech provider that cost effectively delivers its digital platform on a software-as-a-service (SaaS) basis. The company provides a variety of innovative, 100 percent web-based solutions for lenders, banks, credit unions, and conduit aggregators. OpenClose’s core solution, LenderAssist™, is comprehensive loan origination software that is completely engineered by OpenClose using the same code base from the ground up. The company offers a RESTful API suite that standardizes system-to-system integrations, making them easier to develop, quicker to implement and more cost effective. OpenClose provides lending organizations with full control of their data and creates a truly seamless workflow for complete automation and compliance adherence. For more information, visit https://www.openclose.com/ or call (561) 655-6418.
Access Business Technologies (ABT) was established in 1999 by mortgage technology veterans who offered the first Infrastructure as a Service “SaaS” products designed specifically for the mortgage industry. With cybersecurity being a critical issue for financial companies, security is at the core of every product and service delivered by ABT. ABT delivers enterprise grade technologies and services to mortgage companies, banks, and credit unions. Our close partnerships with Microsoft, Mortgage Cadence, Ellie Mae, Calyx Software, OpenClose, Jack Henry, Finastra and Fiserv provide us with the unique ability to efficiently deploy mortgage specific technology to your organization regardless of size or monthly loan volume. ABT is the only Microsoft Cloud Solutions Provider “CSP” dedicated to serving only those companies who originate mortgages. Visit ABT’s website for additional information https://www.myabt.com/.
Profundity Communications, Inc.