Solutions Info

Select a solution to learn about how Xenos is applied to address situations like your own.

Banking Building a Mortgage Factory Reduce Mortgage Approval Times from Days to Seconds

Problem

Banks’ mortgage businesses rely on a combination of people, applications, workflows and processes:

• information assembly
• credit analysis
• application evaluation
• risk-based pricing underwriting
• rate-lock guarantees
• approval
• closing

In many cases, the connections between steps and processes are disconnected and do not occur in real-time, leading to unacceptably long delays between mortgage application and final approval. Meanwhile, nimble banks have completely automated their mortgage process in a seamless and timely method from application to approval.

What is the bottleneck?

Incompatible applications and manual processes.

One standard approach to connecting and integrating incompatible applications is to re-write each application or to purchase new integrated applications. This approach is expensive and can disrupt existing operations and workflows within a bank.

The Xenos Solution

Integrate Incompatible Applications

The Xenos Banking Mortgage Factory Solution can integrate the incompatible applications in your mortgage processing chain, enabling your staff with powerful on-line tools to speed mortgages from application through approval in real-time. The Xenos Banking Mortgage Factory Solution integrates your applications at the data level, by dynamically transforming input and output data streams from each application to the required format, so no changes are required to any applications.

Automate Manual Processes

In addition, the Xenos Banking Mortage Factory Solution automates manual processes by eliminating the manual keying of data from one application to another in the mortgage processing chain. There are many benefits to automating manual processes – speed, reduction of personnel costs, accuracy and the elimination of keying errors. Xenos Banking Solutions for building Automated Mortgage Factories breaks down the walls between applications, lines of business, departments and individuals.

Benefits

• Become an innovator in your industry. The innovation is not in your mortgage itself, it is in moving the process from a slow, manual methodology to a fast, real-time system.
• Leverage your existing mortgage process into a powerful on-line and real-time solution that will satisfy your customers demand for a swift, smooth and automated mortgage experience.
• React quickly to changing business conditions. The Xenos Banking mortgage Factory Solution is not a, one time implementation. As technology, infrastructure and the business environment change, The Xenos Solution can be adjusted quickly to fine-tune your Mortgage Factory to adapt the changes.

Click here to read more about the Xenos terminalONE, the product underlying the Xenos Banking Mortgage Factory Solution.