News > Equitable Bank Enhances Lending Operations with FundMore’s LOS

Equitable Bank Enhances Lending Operations with FundMore’s LOS

[email protected] | June 19, 2024

FundMore, an industry-leading fintech company dedicated to modernizing lending processes, is thrilled to announce that Equitable Bank, Canada’s Challenger Bank™ on a mission to drive change in Canadian banking to enrich people’s lives, has chosen FundMore’s cutting-edge Loan Origination System (LOS), to enhance its lending operations. This collaboration marks a significant step forward for Equitable Bank in delivering a superior mortgage experience to its broker partners, while also improving employee engagement through streamlining processes.

FundMore’s AI-enhanced LOS is set to disrupt legacy software systems by offering a cloud-native, user-friendly, and technologically advanced platform. Designed to improve the lending experience, FundMore’s LOS makes the process more efficient and streamlined, which translates to a better experience for borrowers, reduced workloads for underwriting teams, and significant opportunities for scale, all while upholding rigorous underwriting standards and compliance.

“Since founding FundMore, our goal has been to provide streamlined solutions that cater to the evolving needs of lenders,” said Chris Grimes, CEO of FundMore. “Our partnership with Equitable Bank underscores our commitment to innovation in the financial services sector. Equitable Bank’s forward-thinking approach aligns perfectly with FundMore’s mission to bring transparency, efficiency, and speed to the mortgage process. We are excited to support Equitable Bank in delivering unparalleled value to its customers.”

With the deployment of FundMore’s LOS, Equitable Bank aims to optimize its lending experience by significantly reducing processing times, decreasing error rates, and enhancing overall operational efficiency. This strategic move will enable faster decision-making and a more user-friendly mortgage application process for its customers and employees alike.

“Partnering with FundMore to implement the new LOS is a natural extension of Equitable Bank’s challenger commitment to drive change in Canadian banking. This AI-enhanced tool will allow us to unlock new levels of turnaround time, satisfaction, and engagement for our mortgage broker partners and employees,” said Mahima Poddar, SVP and Group Head of Personal Banking with Equitable Bank. “We are excited to work alongside a like-minded organization in FundMore as we continue to advance our innovation agenda and set new industry standards for excellence in mortgage lending.”

Equitable Bank’s selection of FundMore’s LOS highlights a broader trend within the financial industry towards embracing advanced technology solutions to improve service delivery, operational efficiency and overall customer and employee satisfaction. This partnership sets a new benchmark for innovation in the mortgage industry and opens up new opportunities in North America’s financial technology space.

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