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Finastra to hone mortgage business with Fusion Mortgagebot Data Insights

Vincent Pugliese, SVP & GM, US Retail & Lending, Finastra

Finastra has announced the launch of Fusion Mortgagebot Data Insights in a bid to provide customer behavior insights to users for enhancing borrower experience through Big Data and Machine Learning. The new tool compares mortgage borrower behavior and demographics for banks and credit unions against that of the tool’s users.

Vincent Pugliese, SVP and General Manager, US Retail & Lending at Finastra said, “By reviewing and comparing the 1.5 terabytes of data stored in Fusion Mortgagebot, banks and credit unions can see, for example, how expanding their geographic lending parameters by a few miles or how shifting their minimum credit score threshold can impact the bottom line.”

According to the supplier, the tool is expected to provide access to dashboards for the delivery of insights. It will analyze data from borrower applications and facilitate the provision of information regarding application exit points, the average time for application submissions and average credit score. The tool has been built on top of Microsoft Power BI via FusionFabric.cloud.

“The abundance of Big Data may seem overwhelming, but in today’s competitive market it is important to understand how analytics offer banks and credit unions a necessary edge for their products, markets, and channels,” said Esther Henry, Vice President, Mortgage Lending, Bank Independent. “With a quick toggle, we can compare universal data from Fusion MortagebotPOS users, revealing new opportunities and providing the knowledge needed to quickly shift loan strategies to maximize profits.”

Recently, Finastra announced the launch of new applications built on its FusionFabric.cloud platform in partnership with Allied Payment Network, Certified Federal Credit Union and Monotto.

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