Fintech, Finance, Technology, Banking Highlights – 3 May 2018
BOK Financial Implements Partnership With Roostify to Streamline Mortgage Process
BOK Financial, a top-25 regional financial services company, has implemented a partnership with Roostify, a digital lending platform that gives customers more control of their home buying process while allowing loan officers to utilize the latest technology to more easily process loans.
The new digital platform is a tool that offers functionality and efficiency to customers including:
• Customers can start an application, provide documentation and follow their loan’s progress online.
• Applicants have a secure way to upload, send, and receive loan documents. Homebuyers can add other involved parties to transaction, such as the real estate agent.
• Users don’t have to guess where they are in the process – they will receive timely loan status updates.
For BOK Financial’s loan officers, this means less time spent processing paper documents or in repeat phone calls, and more time to work on actually moving loans forward. Loan officers like John Yancey are benefiting from the partnership.
“This is a big help in my day-to-day work,” said Yancey. “With my buyers submitting their documents online, I am able to get the loan into processing much faster and keep it moving forward more easily, particularly if the buyer’s information comes in electronically verified as accurate.”
“The technology investment complements BOK Financial’s increase in purchase loan production across the company’s eight-state retail footprint as well as the consumer direct channel over the past year,” said BOK Financial Mortgage President Glenn Brunker. “The bank is leveraging Roostify’s dynamic technology to deliver a unique offering to both the employee and customer in the different markets and channels. This will affirm our commitment to the implementation of a streamlined digital experience for our customers.”
CAIS Selects SEI to Provide An Innovative Front-Office Technology Solution for Alternative Investment Platform
SEI announced that CAIS, an industry-leading alternative investment platform for independent wealth advisers, has entered into an agreement with SEI to bring both advisers and fund managers dramatically improved automation and security when investing in funds that require subscription documents.
The CAIS platform will integrate SEI Trade, SEI’s innovative, cloud-based solution for automating the paperwork-intensive process of handling, documenting, and tracking investors’ private fund transactions. Providing users with a high-touch, seamless, end-to-end platform experience, this integration will accelerate CAIS’s ongoing efforts to eliminate the cumbersome paper-driven and manual processes associated with investing in alternative investment funds.
The SEI Trade integration offers CAIS an industry-leading, technology-driven platform that provides intelligent subscription document completion, digital document management, workflow automation, and real-time tracking and transparency. SEI’s highly configurable solution will both strengthen and efficiently integrate with CAIS’s open-architecture platform offering, which includes access to a broad menu of alternative investment funds, due diligence and educational content, and performance reporting.
As usage of alternative investment strategies has increased within the independent wealth management channel, so has the demand for simplified investment workflow. CAIS and SEI believe the industry has reached an inflection point where key industry platforms can integrate to harness their respective core strengths and deliver a complete solution for advisers and their clients.
Constellation and TwinStar Credit Union announce strategic partnership and $3 million investment
Constellation Digital Partners, LLC is eager to announce a new strategic partnership and $3 million investment from TwinStar Credit Union.
TwinStar serves approximately 120,000 members in Washington and Oregon, and has $1.3 billion in assets. Constellation founder and CEO Kristopher Kovacs closed the investment April 17 with TwinStar Credit Union CEO Jeff Kennedy.
This announcement marks the 13th investment made in the revolutionary software platform since launching almost one year ago. With TwinStar’s investment, Constellation has now reached $29 million in total capital raise. Investment opportunities in the CUSO will be closing soon.
“TwinStar is an excellent partner for us and we truly value their investment in our platform,” said Kovacs. “Along with them, we will be able to take Constellation to the next level for credit unions and members everywhere. Constellation is uniting fintechs and credit unions together to bring our digital services platform to market and TwinStar is helping bring our vision to life.”
