FundMore is proud to announce that Meridian Credit Union has selected its state-of-the-art LOS as part of its lending transformation journey.
OTTAWA, ONTARIO, CANADA, September 7, 2023/ EINPresswire.com / — FundMore, an industry-leading fintech company focused on modernizing lending, is proud to announce that Ontario’s largest credit union, Meridian Credit Union, has selected its state-of-the-art Loan Origination System (LOS) as part of its lending transformation journey. The announcement comes on the heels of FundMore launching two other major enterprise lenders in Canada.
Historically, lenders have relied on in-house or legacy software to originate mortgages. FundMore’s AI-enhanced LOS disrupts this tradition of outdated technology solutions by deploying its cloud-native, user-friendly, and technologically advanced LOS tailored to enhance the lending experience, making it more efficient, accurate, and streamlined. Further, as part of the Meridian LOS launch, FundMore is building additional tools to provide retail lending clients like Meridian with a more holistic loan management package.
“Since founding FundMore, we’ve sought to bring more streamlined solutions to lenders,” said Chris Grimes, CEO of FundMore. “Our latest partnership with Meridian Credit Union continues to demonstrate that Canadian credit unions are leading the way by putting their members and borrowers first with cost-effective transparent solutions that reduce the friction during the underwriting process. Ultimately, this results in a more delightful experience for borrowers and reduced workloads for underwriting teams. Meridian’s member-centric view complements FundMore’s technology mission, and we couldn’t be happier to have such a great partner in the credit union ecosystem”.
FundMore will now optimize Meridian’s lending process by reducing processing time per file, decreasing the frequency of errors, and enabling management to measure ROI.
“Partnering with FundMore will help deliver on our Meridian for Good strategy by simplifying our processes and technologies and enabling innovation in our consumer lending products. Digitizing our mortgage application process will result in a more user-friendly and efficient experience for our Members, who will benefit from faster decision-making,” said Allison VanRooijen, VP of Consumer Credit at Meridian.
Meridian selecting FundMore’s LOS paves the way for more technological innovations in the credit union industry to create new opportunities in North America’s financial technology space.
FundMore’s end-to-end automated LOS (Loan Origination System) lets lenders confidently lend at speed and scale. , Fundmore’s products streamline funding processes, reduce risk, and improve efficiency through analytics. The automated underwriting front-end platform includes all the latest technology lenders need to process applications frictionlessly, from live Google Maps, automated property valuations, and a secure document portal with e-signature to automatic ID verification. On the back end, FundMore’s document management and automation solutions for mortgage lenders collect, classify, process, validate, and securely store client documents for a one-touch mortgage process.
For more information on FundMore, please visit the company website at www.fundmore.ai.