NEWS > FundMore, powered by Opta's data, enables frictionless lending for Canadian banks
FundMore.ai | September 15, 2022
FundMore, an award-winning mortgage underwriting software, is pleased to announce an industry-leading integration with Opta Information Intelligence (Opta), Canada's largest property location intelligence provider and a Verisk business.
This collaboration enables lenders to retrieve property information from Opta's databases which contain details on 18+ million Canadian properties. Automating the process for property details and valuations during the application procedure can expedite the process dramatically; improving the time to close a file. Automation may also reduce fraud, human error and helps ensure loans meet the underwriting criteria.
By combining both data & digital solutions, Opta and FundMore provide institutional lenders of all sizes the critical advantage needed in the current marketplace where digital and automated capabilities are increasingly in demand.
"Our award-winning platform is now even more efficient through our integration with Opta's leading property data solution," says Chris Grimes, CEO of FundMore. "Underwriting is now a one-day process, and lenders of all stripes should be rethinking their legacy systems for this industry paradigm shift. Powered by Opta, we continue to give the digital tools and automation they need to keep up with changing consumer demands and regulatory requirements."
"Our goal is to help streamline the mortgage process by leveraging the industry's most accurate property data sets," says Greg McCutcheon, President of Verisk's Opta. "FundMore's technology is revolutionizing the industry, and we are very excited to be working with such a forward thinking and innovative company. Through automation and Opta's data products, FundMore will be able to unlock significant time savings in the underwriting workflow while managing risk."
Opta Information Intelligence, a Verisk business, delivers Canada's most comprehensive property intelligence and loss control services nationwide. Offering streamlined services, Opta provides access to superior data and innovative property solutions, delivering more profitable underwriting results with greater accuracy and insights than ever before. For more information, visit optaintel.ca.
Verisk (Nasdaq: VRSK) provides data-driven analytic insights and solutions for the insurance and energy industries. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk empowers customers to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global issues, including climate change and extreme events as well as political and ESG topics. With offices in more than 30 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. For more, visit Verisk.com and the Verisk Newsroom.
FundMore's suite of products incorporates features and functions inclusive of the advancement in technology and software. FundMore's comprehensive automated LOS (Loan Origination System) utilizes machine learning to streamline funding, reduce risk, improve efficiency through analytics, and greatly improve the success and speed of the underwriting process. FundMore's automated underwriting front-end platform includes the latest technology including live google maps, automated property valuation, a secure document portal with e-signature, ID verification, and more. FundMore also provides document management and automation solutions for mortgage lenders that collect, classify, process, validate and securely store client documents.
As a result, FundMore has received numerous industry awards and recognitions, including being a 2021 Canadian Mortgage Awards finalist, winning the Go Global Awards 2021 Top Placer Award, being nominated as the Best AI-Driven Automated Underwriting Software 2021 by Corporate Vision, winner of The Canadian Proptech Innovation Award 2021, The Next Big Thing Award winner by Best Ottawa Business, 5-Star Mortgage Employers 2022, and more.