Partnership
June 13, 2023
Coforge and FundMore partner to deliver compliance automation solutions for mortgage lenders in Canada
A state-of-the-art platform designed to automate QC, risk management, and regulatory compliance in the mortgage industry.
FundMore, an award-winning mortgage LOS, has partnered with Coforge Limited (NSE: COFORGE), a global digital services and business operations provider, to develop a state-of-the-art platform designed to automate QC, risk management, and regulatory compliance in the mortgage industry.
The mortgage industry is subject to heightened regulatory scrutiny, requiring efficient and accurate loan production. As a result, quality control and compliance have emerged as top priorities for financial institutions. QC automation substantially reduces the time and effort needed for reviewing loan files using OCR technology, rules engines, and automated workflows — enabling comprehensive audits and quality control measures that consider every relevant data point.
“We spoke with many lenders and identified a gap in the current process. Lenders and insurers are unable to perform QC at scale for the loans that they are producing or insuring. Working with Coforge, we have developed a way to automate these compliance tasks using their Copasys® platform. We can now ensure that every loan is reviewed against lending guidelines to identify deficiencies upfront.”
Chris Grimes, CEO of FundMore
“Coforge is excited to partner with FundMore to deliver this game-changing solution to the market. Lenders and insurers will have greater transparency into risks at a loan level, empowering them to make more informed decisions going forward.”
Maddee Hegde, EVP and Head, Coforge BPS
About Coforge
Coforge is a global digital services and solutions provider that leverages emerging technologies and deep domain expertise to deliver real-world business impact for its clients. Coforge's proprietary platforms power critical business processes across its core verticals. The firm has a presence in 21 countries with 25 delivery centers across nine countries.
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